VITAL SIGNS INDICATOR Home Prices (EC7)

FULL MEASURE NAME Home Prices

LAST UPDATED August 2019

DESCRIPTION Home prices refer to the cost of purchasing one’s own house or condominium. While a significant share of residents may choose to rent, home prices represent a primary driver of housing affordability in a given region, county or city.

DATA SOURCE Zillow Median Sale Price (1997-2018) http://www.zillow.com/research/data/

Bureau of Labor Statistics: Consumer Price Index All Urban Consumers Data Table (1997-2018; specific to each metro area) http://data.bls.gov

CONTACT INFORMATION vitalsigns.info@bayareametro.gov

METHODOLOGY NOTES (across all datasets for this indicator) Median housing price estimates for the region, counties, cities, and zip code come from analysis of individual home sales by Zillow. The median sale price is the price separating the higher half of the sales from the lower half. In other words, 50 percent of home sales are below or above the median value. Zillow defines all homes as single-family residential, condominium, and co-operative homes with a county record. Single-family residences are detached, which means the home is an individual structure with its own lot. Condominiums are units that you own in a multi-unit complex, such as an apartment building. Co-operative homes are slightly different from condominiums where the homeowners own shares in the corporation that owns the building, not the actual units themselves.

For metropolitan area comparison values, the Bay Area metro area’s median home sale price is the population-weighted average of the nine counties’ median home prices. Home sales prices are not reliably available for Houston, because Texas is a non-disclosure state. For more information on non-disclosure states, see: http://www.zillow.com/blog/chronicles-of-data-collection-ii-non-disclosure-states-3783/

Inflation-adjusted data are presented to illustrate how home prices have grown relative to overall price increases; that said, the use of the Consumer Price Index does create some challenges given the fact that housing represents a major chunk of consumer goods bundle used to calculate CPI. This reflects a methodological tradeoff between precision and accuracy and is a common concern when working with any commodity that is a major component of CPI itself.

The median house price in 94027, Atherton, California, was about 8.3 million U.S. dollars. This made it the most expensive zip code in the United States in 2023. 11962 Sagaponack, N.Y., was the runner-up with a median house price of about 8.1 million U.S. dollars. Of the 10 most expensive zip codes in the United States in 2026, six were in California.

VITAL SIGNS INDICATOR
Home Prices (EC7)

FULL MEASURE NAME
Home Prices

LAST UPDATED
December 2022

DESCRIPTION
Home prices refer to the cost of purchasing one’s own house or condominium. While a significant share of residents may choose to rent, home prices represent a primary driver of housing affordability in a given region, county or city.

DATA SOURCE
Zillow: Zillow Home Value Index (ZHVI) - http://www.zillow.com/research/data/
2000-2021

California Department of Finance: E-4 Historical Population Estimates for Cities, Counties, and the State - https://dof.ca.gov/forecasting/demographics/estimates/
2000-2021

US Census Population and Housing Unit Estimates - https://www.census.gov/programs-surveys/popest.html
2000-2021

Bureau of Labor Statistics: Consumer Price Index - http://data.bls.gov
2000-2021

US Census ZIP Code Tabulation Areas (ZCTAs) - https://www.census.gov/programs-surveys/geography/guidance/geo-areas/zctas.html
2020 Census Blocks

CONTACT INFORMATION
vitalsigns.info@bayareametro.gov

METHODOLOGY NOTES (across all datasets for this indicator)
Housing price estimates at the regional-, county-, city- and zip code-level come from analysis of individual home sales by Zillow based upon transaction records. Zillow Home Value Index (ZHVI) is a smoothed, seasonally adjusted measure of the typical home value and market changes across a given region and housing type. It reflects the typical value for homes in the 35th to 65th percentile range. ZHVI is computed from public record transaction data as reported by counties. All standard real estate transactions are included in this metric, including REO sales and auctions. Zillow makes a substantial effort to remove transactions not typically considered a standard sale. Examples of these include bank takeovers of foreclosed properties, title transfers after a death or divorce and non arms-length transactions. Zillow defines all homes as single-family residential, condominium and co-operative homes with a county record. Single-family residences are detached, which means the home is an individual structure with its own lot. Condominiums are units that can be owned in a multi-unit complex, such as an apartment building. Co-operative homes are slightly different from condominiums in that the homeowners own shares in the corporation that owns the building, not the actual units themselves.

For metropolitan area comparison values, the Bay Area metro area’s median home sale price is the population-weighted average of the nine counties’ median home prices. Data is adjusted for inflation using Bureau of Labor Statistics metropolitan statistical area (MSA)-specific series. Inflation-adjusted data are presented to illustrate how home prices have grown relative to overall price increases; that said, the use of the Consumer Price Index (CPI) does create some challenges given the fact that housing represents a major chunk of consumer goods bundle used to calculate CPI. This reflects a methodological tradeoff between precision and accuracy and is a common concern when working with any commodity that is a major component of the CPI itself.

Graph and download economic data for S&P CoreLogic Case-Shiller CA-San Diego Home Price Index (SDXRSA) from Jan 1987 to Jan 2025 about San Diego, CA, HPI, housing, price index, indexes, price, and USA.

Graph and download economic data for S&P CoreLogic Case-Shiller IL-Chicago Home Price Index (CHXRSA) from Jan 1987 to Jan 2025 about Chicago, IL, IN, WI, HPI, housing, price index, indexes, price, and USA.

The FHFA House Price Index (FHFA HPI®) is the nation’s only collection of public, freely available house price indexes that measure changes in single-family home values based on data from all 50 states and over 400 American cities that extend back to the mid-1970s. The FHFA HPI incorporates tens of millions of home sales and offers insights about house price fluctuations at the national, census division, state, metro area, county, ZIP code, and census tract levels. FHFA uses a fully transparent methodology based upon a weighted, repeat-sales statistical technique to analyze house price transaction data. ​ What does the FHFA HPI represent? The FHFA HPI is a broad measure of the movement of single-family house prices. The FHFA HPI is a weighted, repeat-sales index, meaning that it measures average price changes in repeat sales or refinancings on the same properties. This information is obtained by reviewing repeat mortgage transactions on single-family properties whose mortgages have been purchased or securitized by Fannie Mae or Freddie Mac since January 1975. The FHFA HPI serves as a timely, accurate indicator of house price trends at various geographic levels. Because of the breadth of the sample, it provides more information than is available in other house price indexes. It also provides housing economists with an improved analytical tool that is useful for estimating changes in the rates of mortgage defaults, prepayments and housing affordability in specific geographic areas. U.S. Federal Housing Finance Agency, All-Transactions House Price Index for Connecticut [CTSTHPI], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/CTSTHPI, August 2, 2023.

Graph and download economic data for S&P CoreLogic Case-Shiller NY-New York Home Price Index (NYXRSA) from Jan 1987 to Jan 2025 about New York, NY, HPI, housing, price index, indexes, price, and USA.

Graph and download economic data for S&P CoreLogic Case-Shiller DC-Washington Home Price Index (WDXRSA) from Jan 1987 to Dec 2024 about DC, Washington, MD, WV, VA, HPI, housing, price index, indexes, price, and USA.

FHFA House Price IndexThe FHFA House Price Index (FHFA HPI®) is a comprehensive​ collection of publicly available house price indexes that measure changes in single-family home values based on data that extend back to the mid-1970s from all 50 states and over 400 American cities. The FHFA HPI incorporates tens of millions of home sales and offers insights about house price fluctuations at the national, census division, state, metro area, county, ZIP code, and census tract levels. FHFA uses a fully transparent methodology based upon a weighted, repeat-sales statistical technique to analyze house price transaction data.What does the FHFA HPI represent?The FHFA HPI is a broad measure of the movement of single-family house prices. The FHFA HPI is a weighted, repeat-sales index, meaning that it measures average price changes in repeat sales or refinancings on the same properties. This information is obtained by reviewing repeat mortgage transactions on single-family properties whose mortgages have been purchased or securitized by Fannie Mae or Freddie Mac since January 1975.The FHFA HPI serves as a timely, accurate indicator of house price trends at various geographic levels. Because of the breadth of the sample, it provides more information than is available in other house price indexes. It also provides housing economists with an improved analytical tool that is useful for estimating changes in the rates of mortgage defaults, prepayments and housing affordability in specific geographic areas.

In 2023, Sagaponack, NY (zip code 11962) was the zip code that witnessed the highest luxury house price increase in the United States. Year-on-year, prices in that zip code increased by 40 percent. Ross, CA (zip code 94957) stood at the other end of the scale, with a decline of 39 percent.

This map uses a two-color thematic shading to emphasize where areas experience the least to the most affordable housing across the US. This web map is part of the How Affordable is the American Dream story map.

Esri’s Housing Affordability Index (HAI) is a powerful tool to analyze local real estate markets. Esri’s housing affordability index measures the financial ability of a typical household to purchase an existing home in an area. A HAI of 100 represents an area that on average has sufficient household income to qualify for a loan on a home valued at the median home price. An index greater than 100 suggests homes are easily afforded by the average area resident. A HAI less than 100 suggests that homes are less affordable. The housing affordability index is not applicable in areas with no households or in predominantly rental markets . Esri’s home value estimates cover owner-occupied homes only. For a full demographic analysis of US growth refer to Esri's Trending in 2017: The Selectivity of Growth.

The pop-up is configured to show the following 2017 demographics for each County and ZIP Code:

Total Households 2010-17 Annual Pop Change Median Age Percent Owner-Occupied Housing Units Median Household Income Median Home Value Housing Affordability Index Share of Income to Mortgage

The median house prices in the most expensive zip codes in New York reached as high as 8.1 billion U.S. in 2023. That was the median property price in dollars in 11962, Sagaponack, Suffolk County in that year. In 11976, Water Mill, the median price amounted to 4.5 million U.S. dollars. The two zip codes also ranked among the 10 zip codes with the highest median house price in the entire United States.

The median house prices in the most expensive zip codes in California reached as high as 8.3 million U.S dollars. Atherton (94027), had the most expensive median house price, followed by Santa Barbara (93108), and Beverly Hills (90210). Six of the ranked zip codes were among the top ten most expensive zip codes in the United States in 2023.

Graph and download economic data for S&P CoreLogic Case-Shiller CO-Denver Home Price Index (DNXRSA) from Jan 1987 to Jan 2025 about Denver, CO, HPI, housing, price index, indexes, price, and USA.

The median house prices in the most expensive zip codes in New England, United States ranged from 1.9 to 2.8 million U.S. dollars. Boston (zip code 02199) was the most expensive in New England with a median house price of 2.8 million U.S. dollars. Nevertheless, that was more affordable than in the ten zip codes with the highest median house price in the entire United States.

Graph and download economic data for S&P CoreLogic Case-Shiller CA-Los Angeles Home Price Index (LXXRSA) from Jan 1987 to Jan 2025 about Los Angeles, CA, HPI, housing, price index, indexes, price, and USA.

Graph and download economic data for S&P CoreLogic Case-Shiller WA-Seattle Home Price Index (SEXRNSA) from Jan 1990 to Dec 2024 about Seattle, WA, HPI, housing, price index, indexes, price, and USA.

Median price paid for residential property in England and Wales, for all property types by lower layer super output area. Annual data..

Average annual and quarterly house prices based on Land Registry data, by borough.

Lower and Upper quartile prices are included in the table. Quarterly Lower Quartile data is taken from DCLG Table 583 up to Q3 2011. All other data is from Land Registry.
Excluded from the above figures are sales at less than market price (e.g. Right To Buy), sales below £1,000 and sales above £20m.
The "median" property price is determined by ranking all property prices in ascending order.
The median is the mid-point of this ranking with 50 per cent of prices below the median and 50 per cent above
The figures for the latest quarter are provisional and figures for all other quarters have been revised.

Data from CLG Table numbers: 581, 582, 585 and 586.

From the 1st of November 2012 DCLG no longer publishes this data at regional level.

Now also includes monthly data from the Land Registry.

Also available are Average house prices for London, by borough, ward, LSOA and MSOA, based on GLA calculations of Land Registry price paid datasets.

Price Paid Datasets

The full land registry price paid datasets are available to download here. This shows details of each house sale since 1995 in England and Wales. The files are broken down into smaller chunks to make it possible to open in Excel2010.

The England and Wales files contain the following fields:

unique_id
price
date
Post code
Property type
Whether newbuild
Freehold
Address1
Town

Local_authority
County
Record_status
Year
Month
Quarter
Region
Country

The London files contain the following fields:

id (London)
transaction_id
Price
Date_processed
Quarter
Month
Year
Year_month
Post_code
Property_type
Whether_new
Tenure
Address1
Address2
Address3
Address4
Town
Local_authority
County
Record_status
Post_code_clean
Inner_outer
Borough_code
Borough_name
Ward_code
Ward_name
MSOA11
LSOA11
OA11

Download (Beware: large file sizes):

England and Wales 1995-2013 (Zip) 911MB

London 1995-2013 (Zip) 190MB

NB Files correct to end of March 2014.

https://www.gov.uk/government/statistical-data-sets/house-price-index-background-tables

https://www.gov.uk/government/statistical-data-sets/live-tables-on-housing-market-and-house-prices

Graph and download economic data for S&P CoreLogic Case-Shiller TX-Dallas Home Price Index (DAXRNSA) from Jan 2000 to Jan 2025 about Dallas, HPI, TX, housing, price index, indexes, price, and USA.