The typical owner-occupied home in Deep River is worth about $95,200, 54% below the Iowa median of $208,000 and 71% below the national median of $332,700. Owners pay a median $1,128 a year in property taxes, about 1.18% of their home's value, lower than the Iowa rate of 1.39%. The median household earns $83,125 a year, so the median home costs 1.1 times the median income (2.8 times for Iowa). 85% of occupied homes here are lived in by their owners, and 60% of those owners still have a mortgage.
Deep River at a glance
| Deep River | Iowa | U.S. | |
|---|---|---|---|
| Median home value | $95,200 | $208,000 | $332,700 |
| Median property tax paid per year | $1,128 | $2,897 | $3,119 |
| Property tax as a share of value | 1.18% | 1.39% | 0.94% |
| Median household income | $83,125 | $75,059 | $80,734 |
| Homes lived in by their owners | 85% | 72% | 65% |
| Owner homes with a mortgage | 60% | 59% | 61% |
| Median monthly costs, owners with a mortgage | $1,189 | $1,533 | $1,963 |
| Those costs as a share of the owners' income | 12.5% | 18.7% | 21.0% |
| Median rent | $481 | $972 | $1,413 |
| Rent as a share of renters' income | 20.4% | 27.4% | 30.6% |
| Median year homes were built | 1938 | 1972 | 1980 |
| Vacant homes | 0.0% | 8.5% | 10.1% |
| Population | 335 | 3,210,507 | 334,922,499 |
What a typical home costs per month in Deep River
At this week's average 30-year rate of 7.11%, buying the median Deep River home of $95,200 with 20% down costs about $646 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $804, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $27,669 for the 20%-down payment. That payment is 9% of the median Deep River household income of $83,125; at that income and 20% down, the 28% guideline points to a home of about $286,000.
The median rent here is $481 a month, so owning the median home costs about $165 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $19,040 |
|---|---|
| Loan amount | $76,160 |
| Principal and interest | $512 |
| Property taxes (1.18% a year) | $94 |
| Homeowners insurance (our estimate, 0.5% a year) | $40 |
| PMI | $0 |
| Total per month | $646 |
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| Down payment | $3,332 |
|---|---|
| Loan amount | $93,476 |
| Principal and interest | $629 |
| Property taxes (1.18% a year) | $94 |
| Homeowners insurance (our estimate, 0.5% a year) | $40 |
| FHA mortgage insurance | $42 |
| Total per month | $804 |
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Questions about home buying in Deep River
What is the median home value in Deep River?
About $95,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Deep River?
Homeowners pay a median $1,128 a year, which is about 1.18% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Deep River?
For the median home with 20% down at 7.11%, the payment is about $646 a month. Keeping that under 28% of gross income takes about $27,669 a year.
More about Deep River
- Mortgage Refinance in Deep River
- Debt Relief in Deep River
- Home Equity Loans in Deep River
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data