Lenawee County, Michigan
Local mortgage guidance for Deerfield buyers and homeowners, with options shopped across multiple wholesale lenders and one Michigan broker who stays with your file.
Tucked along the River Raisin in southern Lenawee County, Deerfield is a farming village of roughly 874 to 901 residents just minutes from the Michigan-Ohio border. Settled in 1826 as "Kedzie's Grove" and incorporated in 1873, the village keeps a walkable historic downtown surrounded by working farmland. Most residents own their homes (about 86%) and commute out for work, with manufacturing the top employment sector followed by healthcare and retail (Data USA). Adrian sits about 15 to 20 minutes west, and Toledo is a quick 25-minute drive south. The median household income here is about $70,556. For buyers, 49238 offers something increasingly rare in Michigan: an affordable, owner-occupied, rural market within easy reach of two regional job hubs.
By the numbers
Values move. Treat these as orientation and let us pull current figures for the address you are considering.
Typical home value, from the market research on this page
Typical rise in taxable value the year after a home sells in Deerfield Township, 2026 Uncapping Study
Property tax current owners pay, as a share of value. A buyer's bill can reset higher the year after a sale
Residential ZIP code: 49238
To buy a median-priced (about $200,000) Deerfield home, plan on roughly $55,000 to $70,000 in household income, a range the local median income of about $70,556 comfortably supports. Current owners in Lenawee County pay an effective property tax rate of about 1.14%, and a buyer's bill can reset higher the year after a sale, so confirm whether a home carries the lower homestead (principal-residence) millage. At this price point you are well under conforming loan limits, so jumbo financing is rarely a concern. First-time buyers should look hard at MSHDA down-payment assistance and, because 49238 is rural, USDA Rural Development loans and their down payment options for eligible buyers.
Nearly every Deerfield purchase fits well under the 2026 conforming limit of $832,750, so loan size is rarely the constraint.
The market
Deerfield's median listing price sits near $197,500 as of June 2026, up about 9.8% year over year, though estimates range widely from roughly $167,600 (Data USA median value) to $229,000 at the ZIP-sales level. Most homes trade between $165,000 and $250,000, comfortably below the national median. Homes spend a median of about 32 days on market, essentially flat from a year ago. The single biggest factor here is inventory: with often only a handful of active listings in the entire village, a single sale can swing the median, and a well-priced home can sell fast while an atypical property lingers. Demand is driven by affordability, large rural parcels, and proximity to Adrian and Toledo employers.
Where to look
Farmhouses, ranches, and colonials on larger parcels; price driven by land. Prices run about $200,000 to $350,000 and up.
A small unincorporated community within the ZIP, mixing single-family and farm properties. Prices run about $150,000 to $275,000.
Homes near the river along US-223/M-50. Prices run about $180,000 to $300,000.
Deerfield is a rural village rather than a city of subdivisions, so these are geographic pockets, not formal developments: Children attend Britton Deerfield Schools, a small rural district (about 388 students) including the Deerfield Building.
Downtown Detroit is about 67 miles, a 75 to 85 minute drive via US-23/M-50 to I-94.
Michigan property taxes
The year after a Michigan home sells, its taxable value resets to half of the assessor's market value, so the seller's tax bill is not your tax bill.
In Deerfield Township, which assesses Deerfield, our 2026 Uncapping Study found taxable value typically rises about 33% the year after a sale. On a $200,000 home, near the typical Deerfield value, that is roughly $1,000 more in first-year tax at the village's homestead millage. We build your payment on that post-sale number.
Looking at a Deerfield address? Our Michigan property tax calculator finds that property's published 2025 millage and works out the tax to plan for after you buy.
Don't build your budget around somebody else's tax bill. The seller's tax history tells us something about the property. It does not automatically tell us what your taxes are going to look like as the new owner.
Local resources
The official offices behind the tax and school details on this page.
Can’t say enough great things about Samantha and her team at Align Lending! Highly recommend
As a first-time homebuyer in Ferndale, I was unsure of some things. Samantha was awesome. She was extremely helpful and made sure I understood every part of the process.
Want to shout out Samantha for the expert guidance, made my first-time homebuyer experience seamless! It exceeded expectations and was a stress free process throughout. Grateful for all your help and loving my new home in Bloomfield Hills!
Samantha Shelton is amazing!! She helped me get into my first home in Ferndale. The closing process was easy I was able to take care of everything without taking a day off of work. Being a first time homebuyer was stressful but she provided clear communication and true experience guidance throughout the entire process
Individual experiences. Results vary.
If yours is not here, ask it on the call. There are no dumb questions.
As of mid-2026, the median listing price in Deerfield is around $197,500, up roughly 9.8% year-over-year, though estimates range from about $167,000 (Data USA median value) to $229,000 (ZIP-level median sales price). Homes generally fall between $165,000 and $250,000, well below the U.S. median, making 49238 an affordable, rural market. Note that with only a handful of homes listed at any time, prices can swing significantly.
Homes in Deerfield spent a median of about 32 days on the market as of June 2026, essentially unchanged from the prior year. Because inventory is very thin (often only a few active listings in the whole village), a well-priced home can move quickly while atypical properties may sit longer.
Lenawee County’s effective property tax rate runs about 1.14% (median), with the county collecting on average around 1.39% of market value. Michigan taxes taxable value, which resets the year after a sale to half of the assessor’s estimate of market value, and your bill depends on whether the home is your homestead (principal residence millage is lower than non-homestead). On a roughly $200,000 home, expect annual taxes in the low-to-mid thousands; ask us or the township assessor for an exact estimate before you buy.
Roughly $55,000 to $70,000 in household income. That covers a roughly $200,000 home, taxes and insurance included; the exact figure depends on your down payment, rate and other debts, and Samantha can work it out for your situation. Deerfield’s median household income is about $70,556, so the median home lines up with a typical local income, often a strong case for first-time-buyer and rural housing loan programs.
Yes. Because 49238 is a rural area, many homes may qualify for USDA Rural Development loans, which offer down payment options for an eligible address and income, alongside FHA’s low down payment option, VA (for eligible veterans), and MSHDA (Michigan State Housing Development Authority) down-payment-assistance programs. With Deerfield’s affordable prices and high homeownership rate (about 86%), these programs can make buying very accessible. A lender can confirm USDA eligibility for a specific address.
Deerfield is served by Britton Deerfield Schools, a small rural district of about 388 students. For jobs, most residents commute to Adrian, Tecumseh, Blissfield, Dundee, or Toledo, OH, with manufacturing (Van-Rob, Wacker Chemical, Inteva, Hi-Lex), healthcare (ProMedica), and higher education (Adrian College, Siena Heights) among the region’s largest employers. Downtown Detroit is about 67 miles (a 75 to 85 minute drive).
Tell Samantha what you are trying to do in Deerfield and she will tell you what actually matters for your situation, including whether the timing is right.
Not what product you want. What you are actually trying to accomplish.
She works out what matters most for you specifically.
Your options, the tradeoffs, and your next step. No obligation to go further.
Align Lending LLC, NMLS #2041154. Samantha Shelton, NMLS 1647301. Equal Housing Opportunity. Licensed in Michigan, Ohio, North Carolina, Florida, Louisiana and Texas. Figures on this page are market research for orientation, not a quote. This page is for educational purposes only. It is not a credit decision, a preapproval, a commitment to lend, or an offer of credit.
Deerfield village home? I'll confirm whether it carries the homestead millage.
Samantha Shelton · Broker Owner · NMLS 1647301
Text Samantha
Texts go to Samantha at (248) 506-5727. 7 days a week, evenings included.