Deerwood is a city in Crow Wing County, Minnesota, United States. The population was 532 at the 2010 census. It is part of the Brainerd Micropolitan Statistical Area.
According to the United States Census Bureau, the city has a total area of 2.0 square miles (5.3 km²), of which, 1.4 square miles (3.5 km²) of it is land and 0.7 square miles (1.7 km²) of it (32.84%) is water. Minnesota State Highways 6 and 210 are two of the main routes in the community.
As of the census of 2000, there were 590 people, 256 households, and 153 families residing in the city. The population density was 431.1 people per square mile (166.3/km²). There were 309 housing units at an average density of 225.8 per square mile (87.1/km²). The racial makeup of the city was 97.12% White, 1.02% African American, 1.19% Native American, 0.17% Asian, 0.17% from other races, and 0.34% from two or more races. Hispanic or Latino of any race were 0.51% of the population.