FHFA House Price Index by ZIP: Annual Change, Three-Year Change and Drawdown (2026)
The FHFA card is the price history on a dossier: the latest annual index value for the ZIP, the year-over-year and three-year change, the drawdown from the ZIP's own peak and a stress score that scales the drawdown. It is a repeat-sales index built from agency mortgages, so it tracks the same houses over time rather than the mix of what sold. This report ranks the ZIPs whose prices fell most in the latest year and gives the national averages.
- 19,024 ZIPs carry an FHFA ZIP5 index for 2025; the average annual change is 5.0% and the average three-year change 19.8%.
- 3,955 ZIPs show falling prices in the latest year and 1,792 sit more than five percent below their peak on the fhfa-hpi card.
- 43145 in Pickaway County, OH fell most at -50.2% in the year, -26.9% over three years.
- The fhfa-hpi index is repeat-sales, so it follows the same houses rather than the mix of what sold.
fhfa-hpi: the FHFA HPI card figures as of 2026-10-20; source the FHFA ZIP5 annual house-price index.
| ZIP (county, state) | HPI YoY | 3-year change | Drawdown from peak | HPI latest |
|---|---|---|---|---|
| 43145 (Pickaway, OH) | -50.2% | -26.9% | -50.2% | 168.0 |
| 14555 (Wayne, NY) | -39.5% | 0.0% | -39.5% | 277.4 |
| 46186 (Hancock, IN) | -39.3% | 10.8% | -39.3% | 355.1 |
| 85324 (Yavapai, AZ) | -35.9% | -0.8% | -35.9% | 359.5 |
| 71423 (Grant, LA) | -29.3% | -17.7% | -29.3% | 181.8 |
| 35984 (Dekalb, AL) | -28.7% | 33.0% | -28.7% | 157.7 |
| 29437 (Dorchester, SC) | -26.7% | 7.3% | -26.7% | 209.9 |
| 27306 (Montgomery, NC) | -26.6% | 6.3% | -26.7% | 342.5 |
| 29684 (Anderson, SC) | -26.6% | 11.1% | -26.6% | 403.3 |
| 33916 (Lee, FL) | -26.4% | -6.7% | -29.5% | 433.5 |
ZIPs with the largest annual price decline (fhfa-hpi, as of 2026-10-20)
ZIPs where prices fell fastest (fhfa-hpi)
43145 in Pickaway County, OH: -50.2% in the year, -26.9% over three years, -50.2% from peak; 14555 in Wayne County, NY: -39.5% in the year, 0.0% over three years, -39.5% from peak; 46186 in Hancock County, IN: -39.3% in the year, 10.8% over three years, -39.3% from peak; 85324 in Yavapai County, AZ: -35.9% in the year, -0.8% over three years, -35.9% from peak; 71423 in Grant County, LA: -29.3% in the year, -17.7% over three years, -29.3% from peak; 35984 in Dekalb County, AL: -28.7% in the year, 33.0% over three years, -28.7% from peak.
What fhfa-hpi measures
HPI latest (index value, base one hundred), latest year, year-over-year percent, three-year percent, drawdown from peak percent and the HPI stress score 0-100.
How fhfa-hpi is computed
FHFA publishes the ZIP5 index annually for ZIPs with enough repeat sales; DLRadar reads the latest release, computes the changes and the drawdown against the ZIP's maximum, and scales the drawdown to the stress score. ZIPs without an index inherit the metro series on the market-phase card instead.
How to use fhfa-hpi on a deal
The three-year change tells you whether a drawdown is a correction after a run or a long decline; a ZIP up thirty percent in three years and down two this year is the former. Buy distressed where the drawdown is deep and the three-year change is still positive; be careful where both are negative.
Read fhfa-hpi on your ZIPs
The market-phase radar turns the index into a phase for every ZIP; the live board shows the card on each parcel.
Fhfa-hpi refreshes with its source table.
FHFA House Price Index by ZIP: Annual Change, Three-Year Change and Drawdown (2026): questions
Why is the latest year not this year?
FHFA's ZIP5 series is annual and released with a lag; the latest year is on the card.
Is the index a price?
No. It is an index with a base of one hundred; changes are what matter.
Which ZIPs are missing?
Those with too few repeat agency sales; they use the metro index on the phase card.
More on the FHFA HPI card
FHFA House Price Index by ZIP: Annual Change, Three-Year Change and Drawdown (2026) (fhfa-hpi) is computed from the FHFA ZIP5 annual house-price index; the FHFA HPI card is research (fhfa-hpi), not legal advice; nothing on the fhfa-hpi page is tax or fhfa-hpi investment advice, so verify every fhfa-hpi figure with its issuing agency before acting.