The typical owner-occupied home in Deerfield is worth about $315,900, 19% above the Wisconsin median of $266,500 and 5% below the national median of $332,700. Owners pay a median $4,194 a year in property taxes, about 1.33% of their home's value, lower than the Wisconsin rate of 1.42%. The median household earns $91,029 a year, so the median home costs 3.5 times the median income (3.4 times for Wisconsin). 80% of occupied homes here are lived in by their owners, and 81% of those owners still have a mortgage.
Deerfield at a glance
| Deerfield | Wisconsin | U.S. | |
|---|---|---|---|
| Median home value | $315,900 | $266,500 | $332,700 |
| Median property tax paid per year | $4,194 | $3,792 | $3,119 |
| Property tax as a share of value | 1.33% | 1.42% | 0.94% |
| Median household income | $91,029 | $77,485 | $80,734 |
| Homes lived in by their owners | 80% | 68% | 65% |
| Owner homes with a mortgage | 81% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,856 | $1,689 | $1,963 |
| Those costs as a share of the owners' income | 22.4% | 19.5% | 21.0% |
| Median rent | $1,156 | $1,087 | $1,413 |
| Rent as a share of renters' income | 27.1% | 27.2% | 30.6% |
| Median year homes were built | 1984 | 1975 | 1980 |
| Vacant homes | 2.0% | 10.8% | 10.1% |
| Population | 2,541 | 5,914,872 | 334,922,499 |
What a typical home costs per month in Deerfield
At this week's average 30-year rate of 7.11%, buying the median Deerfield home of $315,900 with 20% down costs about $2,182 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,708, 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 $93,506 for the 20%-down payment. That payment is 29% of the median Deerfield household income of $91,029; at that income and 20% down, the 28% guideline points to a home of about $308,000.
The median rent here is $1,156 a month, so owning the median home costs about $1,026 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $63,180 |
|---|---|
| Loan amount | $252,720 |
| Principal and interest | $1,700 |
| Property taxes (1.33% a year) | $350 |
| Homeowners insurance (our estimate, 0.5% a year) | $132 |
| PMI | $0 |
| Total per month | $2,182 |
Change the numbers in the calculator
| Down payment | $11,056 |
|---|---|
| Loan amount | $310,178 |
| Principal and interest | $2,087 |
| Property taxes (1.33% a year) | $350 |
| Homeowners insurance (our estimate, 0.5% a year) | $132 |
| FHA mortgage insurance | $140 |
| Total per month | $2,708 |
Change the numbers in the calculator
Questions about home buying in Deerfield
What is the median home value in Deerfield?
About $315,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Deerfield?
Homeowners pay a median $4,194 a year, which is about 1.33% 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 Deerfield?
For the median home with 20% down at 7.11%, the payment is about $2,182 a month. Keeping that under 28% of gross income takes about $93,506 a year.
More about Deerfield
- Mortgage Refinance in Deerfield
- Debt Relief in Deerfield
- Home Equity Loans in Deerfield
- 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