Home prices in 1989: US median, states and today's value
The median new house in the US went for $120,425 in 1989 (Census and HUD), which comes to about $327,313 in September 2026 dollars. Since then the FHFA house price index has multiplied about 4.5 times, and the typical US home is worth $366,157 in September 2026 (Zillow).
- Median sale price for a new house, 1989
- $120,425Sources: Census and HUD.
- Adjusted to September 2026 dollars
- $327,313. CPI-U adjustment applied.
Median and average house price in 1989
The median new-house sale price in 1989 was $120,425. The average reached $148,125, which was 23% higher because a few costly houses raise the average. The FHFA index shows 1989 was a strong year, up +5.3% on the year.
| Year | Median new house | Average new house | FHFA index, change on the year |
|---|---|---|---|
| 1984 | $79,950 | $97,550 | +4.5% |
| 1985 | $84,275 | $100,825 | +5.1% |
| 1986 | $92,025 | $112,075 | +6.8% |
| 1987 | $104,700 | $127,575 | +6.5% |
| 1988 | $112,225 | $138,650 | +5.4% |
| 1989 | $120,425 | $148,125 | +5.3% |
| 1990 | $122,300 | $149,075 | +3.1% |
| 1991 | $119,975 | $147,275 | +1.9% |
| 1992 | $121,375 | $144,675 | +2.8% |
| 1993 | $126,500 | $147,475 | +2.3% |
| 1994 | $130,425 | $154,175 | +2.5% |
Yearly new-house sales data comes from U.S. Census Bureau and HUD (FRED MSPUS, ASPUS). Yearly average from the FHFA all-transactions index. Explore the two measures: median price of a home and average home price in America.
Home prices in 1989 by state
Oregon saw the biggest FHFA index gain since 1989, at +661%, while Connecticut saw the smallest, at +182%. The FHFA index declined during 1989 in three states: Alaska −11.2%, Connecticut −1.6%, and Arizona −0.9%.
| State | Typical value, September 2026 | FHFA change in 1989 | FHFA change since 1989 |
|---|---|---|---|
| Alabama | $238,614 | +1.4% | +281% |
| Alaska | $397,932 | −11.2% | +353% |
| Arizona | $416,733 | −0.9% | +450% |
| Arkansas | $224,158 | +0.5% | +281% |
| California | $761,538 | +21.0% | +362% |
| Colorado | $529,013 | +0.7% | +581% |
| Connecticut | $447,319 | −1.6% | +182% |
| Delaware | $405,061 | +9.7% | +258% |
| District of Columbia | $567,271 | +12.2% | +466% |
| Florida | $375,361 | +3.9% | +451% |
| Georgia | $329,115 | +2.1% | +315% |
| Hawaii | $832,932 | +23.1% | +417% |
| Idaho | $476,754 | +3.5% | +611% |
| Illinois | $295,943 | +7.6% | +253% |
| Indiana | $257,165 | +4.2% | +297% |
| Iowa | $236,623 | +5.0% | +314% |
| Kansas | $246,055 | +1.3% | +308% |
| Kentucky | $230,909 | +4.7% | +322% |
| Louisiana | $213,867 | +0.2% | +275% |
| Maine | $412,002 | +4.5% | +338% |
| Maryland | $424,890 | +10.3% | +272% |
| Massachusetts | $655,219 | +0.2% | +322% |
| Michigan | $263,760 | +6.6% | +317% |
| Minnesota | $348,778 | +3.1% | +348% |
| Mississippi | $194,531 | +0.4% | +249% |
| Missouri | $265,387 | +1.9% | +294% |
| Montana | $467,275 | +1.7% | +657% |
| Nebraska | $278,299 | +2.8% | +355% |
| Nevada | $440,739 | +4.9% | +379% |
| New Hampshire | $510,937 | +0.2% | +304% |
| New Jersey | $575,123 | +0.5% | +293% |
| New Mexico | $315,812 | +1.5% | +324% |
| New York | $524,942 | +1.3% | +317% |
| North Carolina | $332,159 | +2.9% | +345% |
| North Dakota | $290,657 | +1.8% | +390% |
| Ohio | $245,982 | +5.0% | +279% |
| Oklahoma | $220,801 | +1.9% | +299% |
| Oregon | $492,753 | +8.7% | +661% |
| Pennsylvania | $287,078 | +6.3% | +282% |
| Rhode Island | $508,507 | +3.9% | +306% |
| South Carolina | $304,319 | +4.0% | +365% |
| South Dakota | $317,874 | +2.9% | +439% |
| Tennessee | $330,844 | +1.3% | +386% |
| Texas | $296,424 | +0.5% | +361% |
| Utah | $532,920 | +1.4% | +656% |
| Vermont | $391,900 | +8.5% | +323% |
| Virginia | $412,252 | +8.1% | +321% |
| Washington | $587,533 | +13.6% | +629% |
| West Virginia | $176,576 | +2.9% | +264% |
| Wisconsin | $337,196 | +5.5% | +399% |
| Wyoming | $369,044 | +2.6% | +538% |
The change uses the FHFA all-transactions house price index, from the 1989 yearly average through Q2 2026. See FHFA HPI datasets.
A 1989 home's value today
Consider a house that cost $120,425 in 1989, which was the median new-house price. With growth measured by the FHFA index, that home would now be worth about $538,751. Using only consumer prices, it would be worth $327,313. After adjusting for inflation, the median new-house price today is 20% above its 1989 level.
| A $120,425 home from 1989 | Worth now | As of |
|---|---|---|
| Grown with the FHFA house price index for the US | $538,751 | Q2 2026 |
| Grown with consumer prices only (CPI-U) | $327,313 | September 2026 |
Each series compared with its own 1989 and current values:
| Series | 1989 | Now | As of | Change |
|---|---|---|---|---|
| Median new house sold, Census and HUD | $120,425 | $393,300 | Q3 2026 | +227% |
| Average new house sold, Census and HUD | $148,125 | $494,400 | Q3 2026 | +234% |
| FHFA house price index (an index, not dollars) | 160.9 | 719.9 | Q2 2026 | +347% |
| Consumer prices (CPI-U) | 124.0 | 336.9 | September 2026 | +172% |
Use the home appreciation calculator with a city and the price paid.
1989 seen in context
The steel line shows the median price for a new home. The grey line shows the average, and the dashed line identifies 1989.
See an earlier year: home prices in 1985. A later year: home prices in 1990. Browse all years on a single page: home prices by year. The housing market crash history covers every fall since 1975. City by city, the appreciation calculator shows what a home purchased in 1989 is worth now.