Deephaven, MN housing market
The typical Deephaven home is worth about $1,081,000, up 3.4% in a year, 208% above the Minnesota typical home.
Home values, sales, trends and how Deephaven compares with the towns next door — updated as new data is published.
Deephaven at a glance
Only 4 sales in May 2026: in a market this size, monthly medians swing a lot, so the typical value above is the steadier guide.
Typical home value, 2016–2026
Show as a table
| January | Deephaven | Minnesota |
|---|---|---|
| 2017 | $632,000 | $217,000 |
| 2018 | $666,000 | $232,000 |
| 2019 | $684,000 | $246,000 |
| 2020 | $684,000 | $259,000 |
| 2021 | $751,000 | $282,000 |
| 2022 | $874,000 | $313,000 |
| 2023 | $950,000 | $325,000 |
| 2024 | $997,000 | $331,000 |
| 2025 | $1,035,000 | $341,000 |
| 2026 | $1,064,000 | $349,000 |
| August 2026 | $1,081,000 | $351,000 |
7 new homes permitted in 2025
Builders were permitted 7 new homes in Deephaven in 2025, all single-family houses, worth about $11.8 million to build. That's 1.8 per 1,000 residents, slower than across Minnesota (3.8). Over the past 10 years, Deephaven has permitted 116 homes in all.
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Deephaven gained 257 residents while 112 new homes were permitted: about 2.3 new residents per new home. Building and growth moved roughly in step. Across Minnesota: 2.2 new residents per new home.
How Deephaven ranks on housing keeping up with growth →
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 3 | 3 | 0 | $2.7 million |
| 2025 | 7 | 7 | 0 | $11.8 million |
| 2024 | 6 | 6 | 0 | $8.2 million |
| 2023 | 11 | 11 | 0 | $17.1 million |
| 2022 | 3 | 3 | 0 | $3.3 million |
| 2021 | 19 | 19 | 0 | $19.4 million |
| 2020 | 13 | 13 | 0 | $18.2 million |
| 2019 | 10 | 10 | 0 | $9.9 million |
| 2018 | 12 | 12 | 0 | $14.4 million |
| 2017 | 18 | 18 | 0 | $15.9 million |
| 2016 | 17 | 17 | 0 | $12.7 million |
| 2015 | 8 | 8 | 0 | $4.6 million |
| 2014 | 13 | 13 | 0 | $18.7 million |
| 2013 | 16 | 16 | 0 | $9.2 million |
| 2012 | 9 | 9 | 0 | $5.5 million |
| 2011 | 5 | 5 | 0 | $2.2 million |
| 2010 | 4 | 4 | 0 | $6.1 million |
| 2009 | 5 | 5 | 0 | $4.3 million |
| 2008 | 6 | 6 | 0 | $3.6 million |
| 2007 | 6 | 6 | 0 | $3.4 million |
| 2006 | 20 | 20 | 0 | $5.1 million |
| 2005 | 1 | 1 | 0 | $475,000 |
| 2004 | 7 | 7 | 0 | $3 million |
| 2003 | 12 | 12 | 0 | $5.3 million |
| 2002 | 9 | 9 | 0 | $4.5 million |
| 2001 | 7 | 7 | 0 | $4.4 million |
| 2000 | 5 | 5 | 0 | $2 million |
How Deephaven ranks on new homes being built →
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
Deephaven and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Deephaven | $1.08M | +3.4% | $1,780 | 7 | $197,679 |
| Minnetonka | $485K | +3% | $1,970 | 64 | $119,517 |
| Shorewood | $829K | +4.6% | $1,520 | 24 | $171,063 |
| Greenwood | $1.71M | +8.7% | $1,520 | 0 | $215,278 |
| Woodland | $1.69M | +6.2% | $1,950 | 9 | $190,000 |
| Wayzata | $945K | +5.7% | $1,950 | 16 | $131,614 |
5.5 years of income
The typical Deephaven home costs about 5.5 years of the town's median household income, more than across Minnesota (3.9 years).
How Deephaven ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,780
HUD's Fair Market Rent for a two-bedroom in Deephaven is $1,780 a month, utilities included: roughly what a modest, recently rented unit costs. A two-bedroom takes about 11% of the town's median household income.
Studio $1,290 · 4 bedrooms $2,650
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (55331, 55391; Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Recent listings in Deephaven
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.