Deephaven, Minnesota.
Typical home $1,092,848 (+3.5% in a year). Minneapolis-St. Paul-Bloomington, MN-WI metro.
to buy the typical home at today's mortgage rate — +$3,222 (+128%) since Jan 2020.
- 1 year
- Up $37,463 +4%
- $1,055,386$1,092,848 since Sep 2025
- 5 years
- Up $240,964 +28%
- $851,884$1,092,848 since Sep 2021
Monthly payment to buy the typical home
Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.
- Deephaven$5,736
- Minnesota$1,831
- United States$1,922
At the last five years' pace, a typical home here doubles in price every 14 years.
Typical home values in Deephaven, MN rose 3.5% over the past year — faster than the nation's +1.2%.
Living in Deephaven, Hennepin County, Minnesota
Deephaven is a city of 3,899 people in Hennepin County. Half its households earn more than $197,679 a year and half less, against $97,653 across Hennepin County; 2% of its people live below the poverty line. 89% of its homes are lived in by their owners and 11% are rented. Unemployment in Hennepin County was 4.6% in August 2026, and the county had 0.2% more jobs in 2025 than the year before. The most residents work in professional services, then finance and property.
Written by AI Claude Sonnet 5.5 wrote this on 23 October 2026 from the figures here, a list of nearby places and what it knows. It can be wrong or out of date.
What it’s like
The place. Deephaven is a small city on the shore of Lake Minnetonka, and it is a place where most households own their homes. Residents are older than in much of the country, incomes run well above the county's, and very few households live below the poverty line. Nearly all adults hold a four-year degree, and home values are high.
Work. Many residents work in professional and business services, in banks, insurance and property, in schools, hospitals and social care, and in manufacturing. Workplaces within the city itself include St. Therese of Deephaven, Fairview Health Services and Streeter Homes. The commute is a little longer than a short hop, which fits a town set on the lake and apart from the busier parts of the county.
Things to do. Lake Minnetonka lies in or beside town, so the water is close at hand. A longer drive brings you to the Minneapolis Institute of Art, a museum, and to Saint Anthony Falls, a waterfall on the Mississippi. Winters are cold and snowy, and summers are pleasantly warm, so the lake and the city's museums each suit a different season.
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- 1,504households
- 84%of adults have a degree
- 2%below the poverty line
- 26 mintypical commute
What residents work in
Employed residents by industry, from the Census survey. Hennepin County had 919,062 jobs in 2025, 0.2% more than the year before (Bureau of Labor Statistics).
Weather through the year
Coldest in January, with highs near 22° and lows near 6°; warmest in July, with highs near 81° and lows near 62°. About 55 inches of snow and 33 inches of rain and melted snow a year.
Average daily high and low, 1991–2020, at the Chanhassen Wsfo weather station, 6 miles away (NOAA).
Largest workplaces in Deephaven
- St. Therese of DeephavenChurches117
- Fairview Health Services65
- Streeter HomesResidential construction, single-family, general contractors60
Staff on average in 2025, as each workplace reported it to OSHA with its injury records: 3 workplaces with 20 or more staff, 242 people in all. Not listed: many offices and banks, which need not report to OSHA; military bases, whose staff OPM withholds; and, in about half the states, city and county governments.
Natural hazards
- HailRelatively high
- Cold wavesRelatively high
- TornadoesRelatively high
- Heat wavesRelatively moderate
- Strong windRelatively moderate
- Inland floodingRelatively moderate
FEMA’s National Risk Index (December 2025) rates the risk each natural hazard poses to the people, buildings and farms in Deephaven’s census tracts, against the rest of the country; all of them together, relatively low. It is meant for planning, not a substitute for a local risk assessment or a flood map: FEMA’s index.
From the U.S. Census Bureau’s 2020 census and its American Community Survey (2020–2024 five-year estimates), and the Bureau of Labor Statistics. A survey, so each figure has a margin of error, and figures it is not sure of are left out. More on Hennepin County and the Minneapolis-St. Paul-Bloomington, MN-WI metro.
Deephaven home values
Zillow measures a city over its municipal boundary. Against the state and national figures, mid-tier homes, smoothed and seasonally adjusted.
- Deephaven$1,092,848
- Minnesota$348,778
- United States$366,157
Sellers are cutting prices on about 1 in 4 Deephaven listings — the market is roughly in balance.
When this market ran hot
Each cell is that month's year-on-year home-value growth. Read left to right, top row is the latest year — the 2021–22 band is the boom.
Market heat, inside the city limits
Share of listings with a price cut
The early-warning dial: sellers cut when buyers stop reaching. Rising cuts cool a market months before prices notice.
- Deephaven25.36%
- United States26.90%
Homes for sale
Active for-sale inventory. More supply hands power to buyers.
- Deephaven27
New listings per month
Sellers arriving at the market.
Not enough data to draw this yet.
Zip codes with a Deephaven address
A different geography, not a breakdown. The figure above covers the municipality; these zips cover everywhere the Post Office calls Deephaven — often including townships beyond the city limits. Both come straight from Zillow, and they are not expected to average out.
Zillow publishes no zip-level series with this city on the address.