US home prices: the FHFA index, 2026Q2
In the second quarter of 2026, the typical US state was up +3.24% over the year on the FHFA repeat-sales index, +7.49% a year over five and +6.66%a year over ten. Below are the states and metros that moved most, read straight from the index for this quarter. The index measures repeat-sales price change relative to each area’s own base period; it is not a dollar price.
Federal Housing Finance Agency, All-Transactions House Price Index, data to 2026Q2. Source
Each figure is the median across the states publishing that window, annualised: the average yearly rate over the window, not the total change across it.
Fastest-appreciating states over the year
| State | 1yr rank | 1 year | 5 year | 10 year |
|---|---|---|---|---|
| Hawaii | +8.7% | +8.7% | +7.17% | +5.75% |
| West Virginia | +8.02% | +8.02% | +7.49% | +5.36% |
| Illinois | +5.99% | +5.99% | +8% | +5.79% |
| Connecticut | +5.67% | +5.67% | +9.32% | +6.66% |
| Wisconsin | +5.6% | +5.6% | +9.01% | +7.48% |
| New Jersey | +5.45% | +5.45% | +9.62% | +7.13% |
| New York | +5.31% | +5.31% | +8.43% | +6.99% |
| Rhode Island | +5.02% | +5.02% | +9.25% | +8.2% |
Slowest and cooling states
| State | 1yr rank | 1 year | 5 year | 10 year |
|---|---|---|---|---|
| District of Columbia | -0.59% | -0.59% | +0.83% | +2.87% |
| Colorado | +0.2% | +0.2% | +4.57% | +6.36% |
| California | +0.9% | +0.9% | +5.08% | +5.83% |
| Arizona | +0.93% | +0.93% | +6.38% | +8.01% |
| Washington | +1.05% | +1.05% | +5.35% | +7.43% |
| Florida | +1.4% | +1.4% | +7.86% | +8.2% |
| Texas | +1.57% | +1.57% | +6.08% | +6.47% |
| Oregon | +1.65% | +1.65% | +4.37% | +6.05% |
Fastest-appreciating metros over the year
| Metro | 1 year | 5 year | 10 year |
|---|---|---|---|
| Muncie, IN | +13.93% | +9.93% | +7.6% |
| Owensboro, KY | +12.99% | +8.25% | +6.72% |
| Anniston-Oxford, AL | +12% | +8.65% | +6.55% |
| Paducah, KY-IL | +11.38% | +8.05% | +6% |
| Sumter, SC | +11.11% | +9.73% | +7.42% |
| Lima, OH | +11.09% | +8.23% | +7.33% |
| Urban Honolulu, HI | +11.06% | +6.75% | +4.94% |
| Charleston, WV | +10.54% | +6.98% | +4.47% |
| Lawton, OK | +10.22% | +7.48% | +5.07% |
| Valdosta, GA | +10.03% | +9.4% | +6.6% |
| Beckley, WV | +9.99% | +8.85% | +5.31% |
| Weirton-Steubenville, WV-OH | +9.08% | +9.28% | +7.45% |
A single quarter moves a long way in smaller metros; the state pages carry the full five and ten year windows.
Cooling metros
| Metro | 1 year | 5 year | 10 year |
|---|---|---|---|
| Grants Pass, OR | -5.2% | +2.88% | +5.52% |
| Ithaca, NY | -5.2% | +7.19% | +5.55% |
| Brunswick-St. Simons, GA | -4.9% | +8.21% | +7.07% |
| Oakland-Fremont-Berkeley, CA (MSAD) | -4.8% | +1.59% | +3.83% |
| Mansfield, OH | -3.64% | +8.43% | +7.8% |
| Pueblo, CO | -2.9% | +3.96% | +7.4% |
| Sherman-Denison, TX | -2.42% | +7% | +7.78% |
| Wenatchee-East Wenatchee, WA | -2.33% | +5.96% | +7.65% |
| Boulder, CO | -2.26% | +4.14% | +5.44% |
| Pinehurst-Southern Pines, NC | -2.24% | +9.14% | +7.23% |
| College Station-Bryan, TX | -2.23% | +7.32% | +6.1% |
| Rocky Mount, NC | -2.22% | +7.61% | +6.64% |
Highest-priced states, relative to their own history
| State | Index level | 1 year | 30 year |
|---|---|---|---|
| Massachusetts | 1,327 | +3.17% | +5.12% |
| New York | 1,184 | +5.31% | +4.86% |
| Rhode Island | 1,065 | +5.02% | +5.09% |
| Maine | 1,044 | +3.24% | +5.19% |
| District of Columbia | 1,038 | -0.59% | +5.81% |
| Washington | 1,033 | +1.05% | +5.26% |
| Hawaii | 983 | +8.7% | +4.66% |
| California | 975 | +0.9% | +5.41% |
A higher index means prices have risen further from that state’s base period, not that homes there cost more in dollars. Two states with different base periods cannot be compared in dollars from the index alone.
Fastest-appreciating states over ten years
| State | 10yr rank | 1 year | 5 year | 10 year |
|---|---|---|---|---|
| Idaho | +9.7% | +2.95% | +6.05% | +9.7% |
| Maine | +8.34% | +3.24% | +9.35% | +8.34% |
| Utah | +8.25% | +2.58% | +6.08% | +8.25% |
| New Hampshire | +8.22% | +3.95% | +9.14% | +8.22% |
| Florida | +8.2% | +1.4% | +7.86% | +8.2% |
| Rhode Island | +8.2% | +5.02% | +9.25% | +8.2% |
| Tennessee | +8.16% | +2.59% | +8.44% | +8.16% |
| Arizona | +8.01% | +0.93% | +6.38% | +8.01% |
the second quarter of 2026 house prices: common questions
How much did US home prices change in the second quarter of 2026?
On the FHFA all-transactions index, the typical US state moved +3.24% over the year to the second quarter of 2026, +7.49% a year over five years and +6.66% a year over ten. Each figure is the median across the 51 states covered, annualised. The FHFA revises these figures, so later releases can differ.
Which state's home prices rose fastest in the second quarter of 2026?
Hawaii led the states over the year at +8.7% on the FHFA index, data to 2026Q2. The full list of the fastest and slowest states for this release is in the tables above.
Which metro area's home prices rose fastest in the second quarter of 2026?
Muncie, IN led the 410 metros covered at +13.93% over the year. A single quarter can move a long way in smaller metros, so the five and ten year windows in the table are a steadier read.
Which state has seen the fastest home price growth over ten years?
As of this 2026Q2 release, Idaho has the fastest ten-year growth among the states, at +9.7% a year annualised on the FHFA index.
Does this report show average home prices?
No. The FHFA house price index measures repeat-sales price change relative to each area's own base period, so it is not a dollar price. A higher index level means prices have risen further from that base, not that homes cost more in dollars.
Index values are not dollar prices. They measure repeat-sales price change for a geography relative to its own base period. Figures are subject to revision by the FHFA. This report is data, not an appraisal: your own home turns on the price you paid and when, which the estimator works out from your figures.