docs/us_housing/housing_home_values_county_year

housing_home_values_county_year

Home value index by county and year, 1975–2025. FHFA House Price Index (HPI) tracks average house price appreciation using repeat-sales methodology on conforming-loan transactions.

tier —regression_modelhousingfhfahpihome_priceappreciationrepeat_sales
grain
county-year
years
1975 – 2025
cadence
Quarterly; annual averages for county-level
overview

overview

~2,300 counties x 51 years = 106,252 rows. FHFA HPI covers counties with sufficient repeat-sale conforming-loan transactions.

current vintage — 2025 Q4 / annual

history — FHFA county HPI: 1975-present

provenance

source & licensing

authority
Federal Housing Finance Agency
dataset
House Price Index (HPI)
license
citation
Federal Housing Finance Agency. House Price Index (HPI), county-level annual, 1975-2025.
schema

fields

nametypedefinition
_ingested_attimestampTimestamp when this record was written to BigQuery.Pipeline metadata field.
_ingestor_versionstringVersion of the ingestor script that produced this record.Pipeline metadata field.
_reliability_tierstringData quality tier (A/B/C) assigned at ingestion.Pipeline metadata field.
_source_dataset_idstringInternal dataset identifier linking to meta.datasets.Pipeline metadata field.
country_idstringISO alpha-2 country code (always 'US' for domestic tables).
county_idkeystring5-character FIPS code identifying the county.Joins dim.counties on county_id.
county_namestringHuman-readable county name corresponding to county_id.
home_price_change_20yr_pctfloat64 · percentPercentage change in the county's home price index over the trailing twenty-year window ending in the current year. Captures long-run structural appreciation or depreciation trends in the local housing market.
home_price_change_5yr_pctfloat64 · percentPercentage change in the county's home price index over the trailing five-year window ending in the current year. Captures medium-term price trends; positive values indicate appreciation over the period.
home_price_change_yoy_pctfloat64 · percentPercentage change in the county's home price index from the prior year to the current year. Positive values indicate year-over-year appreciation; negative values indicate depreciation.
hpifloat64 · indexFederal Housing Finance Agency (FHFA) House Price Index for the county, measuring single-family home price levels relative to a reference period. Higher values indicate higher home prices relative to the index base.
hpi_1990_basefloat64 · index (1990=100)FHFA House Price Index rebased so that the county's home price level in 1990 equals 100. Enables long-run comparisons anchored to 1990 price levels; values above 100 indicate appreciation since 1990.
hpi_2000_basefloat64 · index (2000=100)FHFA House Price Index rebased so that the county's home price level in 2000 equals 100. Values above 100 indicate appreciation since 2000; below 100 indicate depreciation.
state_idstring2-character FIPS code identifying the state.Joins dim.states on state_id.
yearkeyint64Reference year of the observation.
relationships

joins

primary key
county_id, year
common joins
dim.geographies on county_id
housing_affordability_county_year on (county_id, year)
economy_homeownership_finance_county_year on (county_id, year)
usage

how to use this table

method

Repeat-sales index from Fannie Mae/Freddie Mac conforming-loan acquisitions. County-level requires sufficient transaction volume (small counties may be missing or volatile).

do not use for

Cash-only transactions (FHFA covers conforming loans only); luxury-segment properties above conforming limit; counties with thin transaction volume.

known issues

Conforming-loan-only - undercounts cash buyers and jumbos. Index is unitless; cannot infer dollar levels without anchoring.

last updated · May 5, 2026