Measured FHFA data · through 2025
Home appreciation by state
All 50 states and DC ranked by measured home-price growth over the last five years, with 1-year and 10-year pace alongside so a hot window can't masquerade as a long-term trend. Then the part most state rankings leave out: how far apart the counties inside each state actually were. Computed from the FHFA all-transactions house price index. No forecasts and no model output, just what prices did.
How much states disagree with themselves
A state ranking implies the state is the unit that matters. It usually isn't. Below, each row is one state's counties: the band covers the middle 80% of them, and the tick is the state average you see in the table further down. In South Dakota, the widest state here, Walworth County grew at +2.6% a year while Custer County grew at +13.7%. Both sit inside the same state-level number.
- South Dakota6.5
- Montana5.3
- Wyoming5.0
- North Dakota4.7
- Mississippi4.7
- Michigan4.6
- California4.6
- Colorado4.5
- Kansas4.5
- Texas4.3
- New York4.3
- Oklahoma4.2
- West Virginia4.1
- Alabama4.0
- Arkansas4.0
- New Mexico4.0
- Idaho3.8
- Georgia3.7
- Pennsylvania3.5
- Alaska3.5
- Louisiana3.4
- Missouri3.3
- Illinois3.3
- Kentucky3.3
- Oregon3.3
- Minnesota3.3
- Florida3.2
- Nebraska3.1
- Virginia3.0
- Tennessee3.0
- Maryland3.0
- North Carolina2.9
- Iowa2.8
- New Jersey2.8
- Utah2.8
- Wisconsin2.7
- Massachusetts2.6
- Vermont2.5
- South Carolina2.5
- Indiana2.4
- New Hampshire2.3
- Ohio2.3
- Nevada2.2
- Arizona2.1
- Washington2.0
- Maine1.4
- Connecticut0.7
What the data shows
Fastest state
Maine +11.6%/yr
Five years through 2025. District of Columbia is slowest at +2.7%/yr, a national spread of 8.9 points a year.
Typical gap inside one state
3.3 pts/yr
Median distance between a state's 10th- and 90th-percentile county. 45 of 47 states are 2 points or wider; 31 are 3 or wider.
What that gap is worth
$95,000
A $400,000 home carried through the same five years at the median state's 10th-percentile county pace reached $561,000; at its 90th-percentile pace, $656,000.
Rankings are window-dependent
6 places
Median change in a state's rank between the 5-year and 10-year windows. Washington moves furthest: #38 over five years, #8 over ten.
State rankings by 5-year pace
| # | |||||
|---|---|---|---|---|---|
| 1 | Maine | +5.8% | +11.6% | +8.3% | +121.9% |
| 2 | New Hampshire | +5.7% | +11.0% | +8.1% | +118.7% |
| 3 | Rhode Island | +6.3% | +10.9% | +8.1% | +117.4% |
| 4 | Vermont | +4.4% | +10.9% | +6.9% | +95.4% |
| 5 | Montana | +3.8% | +10.8% | +7.9% | +114.8% |
| 6 | New Jersey | +6.9% | +10.7% | +6.8% | +93.7% |
| 7 | North Carolina | +3.7% | +10.7% | +8.1% | +117.7% |
| 8 | South Carolina | +5.0% | +10.7% | +8.0% | +116.2% |
| 9 | Tennessee | +3.6% | +10.6% | +8.5% | +125.4% |
| 10 | Connecticut | +7.1% | +10.5% | +6.1% | +80.8% |
| 11 | Florida | +0.7% | +10.4% | +8.9% | +134.7% |
| 12 | Georgia | +3.3% | +10.2% | +8.2% | +120.7% |
| 13 | Idaho | +2.6% | +10.0% | +10.0% | +160.3% |
| 14 | Wisconsin | +6.2% | +9.9% | +7.3% | +101.7% |
| 15 | Arizona | +1.9% | +9.7% | +8.5% | +127.0% |
| 16 | Ohio | +5.8% | +9.5% | +7.2% | +101.1% |
| 17 | Indiana | +5.3% | +9.4% | +7.3% | +101.5% |
| 18 | Arkansas | +4.3% | +9.3% | +6.4% | +86.1% |
| 19 | Utah | +3.2% | +9.3% | +8.6% | +129.2% |
| 20 | New York | +7.0% | +9.2% | +6.8% | +92.5% |
| 21 | Michigan | +5.7% | +9.1% | +7.4% | +104.4% |
| 22 | Missouri | +4.8% | +9.1% | +6.9% | +95.1% |
| 23 | Delaware | +4.5% | +9.0% | +6.0% | +79.6% |
| 24 | Kentucky | +5.0% | +8.9% | +6.6% | +90.3% |
| 25 | New Mexico | +3.9% | +8.9% | +6.5% | +87.7% |
| 26 | South Dakota | +3.7% | +8.9% | +6.8% | +92.6% |
| 27 | Alabama | +3.9% | +8.8% | +6.4% | +86.7% |
| 28 | Kansas | +4.9% | +8.8% | +6.7% | +90.4% |
| 29 | Virginia | +4.8% | +8.8% | +6.1% | +80.9% |
| 30 | Massachusetts | +4.8% | +8.7% | +6.8% | +93.5% |
| 31 | Pennsylvania | +5.8% | +8.7% | +6.3% | +83.4% |
| 32 | Nebraska | +3.9% | +8.6% | +6.8% | +92.2% |
| 33 | Illinois | +6.6% | +8.4% | +5.5% | +70.3% |
| 34 | Nevada | +2.7% | +8.4% | +8.4% | +124.9% |
| 35 | Oklahoma | +3.6% | +8.3% | +5.9% | +76.7% |
| 36 | Texas | +1.8% | +8.1% | +7.0% | +96.8% |
| 37 | Wyoming | +5.1% | +8.1% | +5.6% | +73.1% |
| 38 | Washington | +3.1% | +8.0% | +8.3% | +121.2% |
| 39 | Hawaii | +2.6% | +7.7% | +5.7% | +74.4% |
| 40 | Mississippi | +4.4% | +7.7% | +5.3% | +68.0% |
| 41 | West Virginia | +5.6% | +7.7% | +5.0% | +62.2% |
| 42 | Iowa | +4.0% | +7.5% | +5.5% | +70.0% |
| 43 | California | +1.9% | +7.2% | +6.4% | +85.2% |
| 44 | Maryland | +3.7% | +7.2% | +5.1% | +64.2% |
| 45 | Colorado | +1.4% | +7.1% | +7.3% | +102.4% |
| 46 | Alaska | +4.6% | +7.0% | +4.5% | +55.1% |
| 47 | Minnesota | +3.6% | +6.9% | +5.9% | +78.1% |
| 48 | Oregon | +2.0% | +6.7% | +6.8% | +93.9% |
| 49 | North Dakota | +5.4% | +6.3% | +4.1% | +49.3% |
| 50 | Louisiana | +2.9% | +4.5% | +3.7% | +43.3% |
| 51 | District of Columbia | +1.4% | +2.7% | +3.7% | +43.7% |
County spread inside each state
| South Dakota | 35 | Walworth+2.6% | +6.6% | +8.6% | +13.1% | Custer+13.7% | 6.5 |
|---|---|---|---|---|---|---|---|
| Montana | 35 | Dawson+4.4% | +7.0% | +10.8% | +12.3% | Deer Lodge+15.3% | 5.3 |
| Wyoming | 21 | Weston+3.6% | +5.6% | +8.1% | +10.6% | Big Horn+11.3% | 5.0 |
| North Dakota | 21 | Cavalier+2.1% | +4.8% | +6.3% | +9.5% | Bottineau+11.3% | 4.7 |
| Mississippi | 59 | Leflore+2.7% | +4.5% | +6.7% | +9.3% | Panola+11.2% | 4.7 |
| Michigan | 82 | Washtenaw+7.6% | +8.2% | +10.3% | +12.8% | Benzie+13.2% | 4.6 |
| California | 56 | San Francisco+2.6% | +4.3% | +6.3% | +8.9% | Imperial+9.8% | 4.6 |
| Colorado | 49 | Phillips+5.1% | +6.3% | +8.1% | +10.8% | San Juan+14.2% | 4.5 |
| Kansas | 62 | Stevens+4.0% | +6.3% | +8.4% | +10.8% | Anderson+12.4% | 4.5 |
| Texas | 170 | Pecos+0.6% | +5.9% | +8.3% | +10.2% | Hamilton+13.2% | 4.3 |
| New York | 60 | Kings+3.7% | +6.7% | +9.3% | +11.0% | Sullivan+12.2% | 4.3 |
| Oklahoma | 52 | Woods+2.9% | +5.5% | +8.0% | +9.7% | Choctaw+11.8% | 4.2 |
| West Virginia | 37 | Lincoln+0.7% | +5.3% | +7.3% | +9.4% | Hardy+13.4% | 4.1 |
| Alabama | 57 | Clarke+3.6% | +6.4% | +8.3% | +10.4% | Clay+14.9% | 4.0 |
| Arkansas | 59 | Saint Francis+3.4% | +6.4% | +8.3% | +10.4% | Benton+12.1% | 4.0 |
| New Mexico | 26 | Union+3.9% | +5.8% | +8.8% | +9.8% | Valencia+10.5% | 4.0 |
| Idaho | 41 | Ada+8.2% | +8.8% | +10.4% | +12.6% | Adams+16.6% | 3.8 |
| Georgia | 126 | Washington+5.7% | +8.1% | +10.2% | +11.8% | Macon+15.8% | 3.7 |
| Pennsylvania | 64 | Greene+4.6% | +6.3% | +8.0% | +9.8% | Carbon+11.6% | 3.5 |
| Alaska | 8 | Kodiak Island+4.5% | +5.1% | +6.3% | +8.6% | Kenai Peninsula+8.9% | 3.5 |
| Louisiana | 54 | Morehouse+1.6% | +2.4% | +4.5% | +5.8% | Jackson+8.3% | 3.4 |
| Missouri | 97 | Pemiscot+5.6% | +7.7% | +9.3% | +11.0% | Harrison+18.9% | 3.3 |
| Illinois | 91 | Greene+3.1% | +5.9% | +7.6% | +9.2% | Putnam+12.9% | 3.3 |
| Kentucky | 95 | Lawrence+4.7% | +7.3% | +9.0% | +10.6% | Butler+12.3% | 3.3 |
| Oregon | 33 | Multnomah+4.0% | +5.9% | +8.1% | +9.2% | Baker+12.2% | 3.3 |
| Minnesota | 85 | Pennington+3.1% | +6.2% | +7.7% | +9.6% | Lac Qui Parle+11.7% | 3.3 |
| Florida | 63 | Sumter+6.2% | +8.0% | +9.9% | +11.2% | Miami-Dade+12.4% | 3.2 |
| Nebraska | 56 | Box Butte+5.7% | +7.2% | +8.5% | +10.2% | Polk+11.6% | 3.1 |
| Virginia | 123 | Alexandria City+4.3% | +7.4% | +8.9% | +10.4% | Charlotte+14.0% | 3.0 |
| Tennessee | 91 | Shelby+6.6% | +9.4% | +11.3% | +12.4% | Union+13.9% | 3.0 |
| Maryland | 24 | Baltimore City+5.5% | +6.6% | +7.7% | +9.7% | Worcester+10.2% | 3.0 |
| North Carolina | 97 | Northampton+3.7% | +8.8% | +10.2% | +11.7% | Avery+13.6% | 2.9 |
| Iowa | 96 | Ida+4.6% | +6.3% | +7.5% | +9.1% | Montgomery+12.8% | 2.8 |
| New Jersey | 21 | Hudson+8.1% | +8.9% | +10.7% | +11.7% | Atlantic+12.5% | 2.8 |
| Utah | 25 | Grand+7.8% | +8.5% | +9.7% | +11.3% | Carbon+11.7% | 2.8 |
| Wisconsin | 71 | Saint Croix+8.0% | +8.9% | +10.0% | +11.6% | Door+12.5% | 2.7 |
| Massachusetts | 13 | Suffolk+6.1% | +7.7% | +8.9% | +10.4% | Dukes+11.9% | 2.6 |
| Vermont | 14 | Chittenden+9.8% | +10.0% | +10.6% | +12.5% | Essex+16.5% | 2.5 |
| South Carolina | 44 | Darlington+7.1% | +8.7% | +10.0% | +11.2% | Bamberg+11.8% | 2.5 |
| Indiana | 91 | Spencer+7.2% | +8.0% | +9.3% | +10.4% | Ohio+13.4% | 2.4 |
| New Hampshire | 10 | Rockingham+10.1% | +10.3% | +11.2% | +12.6% | Coos+13.3% | 2.3 |
| Ohio | 87 | Belmont+6.3% | +7.8% | +9.1% | +10.1% | Crawford+11.4% | 2.3 |
| Nevada | 12 | Elko+6.5% | +6.7% | +8.0% | +8.9% | White Pine+11.0% | 2.2 |
| Arizona | 14 | Mohave+8.3% | +8.7% | +9.3% | +10.8% | Apache+11.8% | 2.1 |
| Washington | 39 | Ferry+5.4% | +7.3% | +8.5% | +9.3% | Pend Oreille+10.6% | 2.0 |
| Maine | 16 | Aroostook+10.6% | +10.8% | +11.3% | +12.2% | Knox+13.0% | 1.4 |
| Connecticut | 9 | Western CT+9.3% | +9.8% | +10.1% | +10.5% | Southeastern CT+10.6% | 0.7 |
How to read this: “5-yr /yr” is compound annual growth over the five years ending 2025; “10-yr total” is the cumulative change over ten years. “p10” and “p90” are the 10th and 90th percentiles of county pace within a state, and “Gap” is the distance between them in percentage points a year. All figures are nominal (not inflation-adjusted).
Source & method: State figures: FHFA quarterly all-transactions index, annualized as the mean of the four quarterly (NSA) values. County figures: FHFA annual county index (experimental), counties and county equivalents with sufficient transaction history. States with fewer than 8 counties carrying full history are left out of the spread analysis, because percentiles over a handful of counties do not mean anything. Data published by the FHFA House Price Index, covering 2,604 counties through 2025; this edition compiled 2026-09-07. Educational data, not investment advice.
Reuse: the FHFA index is public domain, and the rankings and county spreads compiled here are free to use with attribution and a link to this page. Download the CSV. State averages hide wide local variation; even homes in the same ZIP code appreciate differently.
Frequently asked questions
Which state has the highest home appreciation?
Over the five years ending 2025, Maine leads with a measured pace of +11.6% per year in the FHFA all-transactions index, against +2.7% for District of Columbia at the other end. Leaders change across windows, and the 1-year and 10-year columns often tell a different story than the 5-year ranking.
How much does home appreciation vary inside a single state?
More than most state-level coverage implies. Across the 47 states with enough counties to measure, the median gap between a state's 10th-percentile and 90th-percentile county is 3.3 percentage points a year over the five years ending 2025. 31 of those states have a gap of 3 points or more. Applied to a $400,000 home over that same five-year window, the difference between those two paces is about $95,000.
Are these numbers adjusted for inflation?
No. These are nominal price changes, as measured by the FHFA all-transactions house price index. Subtract inflation over the same window if you want real (inflation-adjusted) appreciation.
Does a state average tell me what a specific home will do?
No, and the spread data on this page is the reason. A state average is a fair description of that state's typical county (the median gap between the two is only 0.4 points a year) but it says very little about any particular county, and less about any particular house. Use state and county rankings for context, then evaluate the specific property within its own local market.
Can I reuse this data?
Yes. The underlying index is published by the Federal Housing Finance Agency and is in the public domain; the rankings, percentiles and county spreads compiled here are free to use with attribution to Good Investment and a link to this page. A CSV of the full table is linked above.
How often is this updated?
Annually, when the FHFA publishes the next complete year of index data. This edition covers data through 2025 and was compiled on 2026-09-07.
Averages end where the decision starts
These are area averages from measured history. Individual homes inside the same area follow meaningfully different paths. Good Investment ranks a specific property within its own market, with context and a confidence flag.