Home prices in 1991: US median, states and today's value
For a median new house sold in the US in 1991, the price was $119,975 (Census and HUD). Adjusted for inflation, that was about $296,819 in September 2026 dollars. From that point, the FHFA house price index has grown to about 4.3 times its former level. Zillow reports a typical US home at $366,157 in September 2026.
- 1991: median new house sold
- $119,975HUD and Census.
- Adjusted to September 2026 dollars
- Adjusted with CPI-U: $296,819.
Average and median house prices in 1991
During 1991, the median new house cost $119,975 and the average cost $147,275. A few costly houses pushed the average 23% above the median. The FHFA index changed by +1.9% in 1991, making it a nearly flat year.
| Year | Median new house | Average new house | FHFA index, change on the year |
|---|---|---|---|
| 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% |
| 1995 | $133,475 | $157,750 | +3.0% |
| 1996 | $140,250 | $165,525 | +3.4% |
U.S. Census Bureau and HUD report yearly new house sales (FRED MSPUS, ASPUS). Yearly average for the FHFA all-transactions index. Two measures explained further: median home prices and average home price in America.
Home prices in 1991 by state
The FHFA index has climbed most in Utah since 1991, at +592%, and least in Connecticut, at +212%. The FHFA index declined in 10 states during 1991. The largest drop was in New Hampshire at −8.0%.
| State | Typical value, September 2026 | FHFA change in 1991 | FHFA change since 1991 |
|---|---|---|---|
| Alabama | $238,614 | +3.2% | +263% |
| Alaska | $397,932 | +13.8% | +287% |
| Arizona | $416,733 | +2.1% | +440% |
| Arkansas | $224,158 | +2.3% | +270% |
| California | $761,538 | −0.3% | +328% |
| Colorado | $529,013 | +3.8% | +541% |
| Connecticut | $447,319 | −4.9% | +212% |
| Delaware | $405,061 | +1.6% | +241% |
| District of Columbia | $567,271 | +0.8% | +441% |
| Florida | $375,361 | +1.7% | +431% |
| Georgia | $329,115 | +1.1% | +309% |
| Hawaii | $832,932 | +10.3% | +278% |
| Idaho | $476,754 | +6.4% | +525% |
| Illinois | $295,943 | +3.8% | +224% |
| Indiana | $257,165 | +3.9% | +269% |
| Iowa | $236,623 | +4.6% | +277% |
| Kansas | $246,055 | +1.0% | +303% |
| Kentucky | $230,909 | +3.3% | +297% |
| Louisiana | $213,867 | +2.9% | +261% |
| Maine | $412,002 | −2.8% | +359% |
| Maryland | $424,890 | +1.7% | +251% |
| Massachusetts | $655,219 | −5.4% | +365% |
| Michigan | $263,760 | +3.9% | +282% |
| Minnesota | $348,778 | +2.8% | +328% |
| Mississippi | $194,531 | +1.7% | +239% |
| Missouri | $265,387 | +1.4% | +286% |
| Montana | $467,275 | +5.5% | +588% |
| Nebraska | $278,299 | +3.4% | +324% |
| Nevada | $440,739 | +6.1% | +319% |
| New Hampshire | $510,937 | −8.0% | +370% |
| New Jersey | $575,123 | −3.5% | +322% |
| New Mexico | $315,812 | +3.1% | +307% |
| New York | $524,942 | −1.0% | +325% |
| North Carolina | $332,159 | +2.1% | +327% |
| North Dakota | $290,657 | +2.7% | +370% |
| Ohio | $245,982 | +4.0% | +249% |
| Oklahoma | $220,801 | +3.2% | +283% |
| Oregon | $492,753 | +9.6% | +507% |
| Pennsylvania | $287,078 | +1.8% | +266% |
| Rhode Island | $508,507 | −3.5% | +326% |
| South Carolina | $304,319 | +2.7% | +338% |
| South Dakota | $317,874 | +5.3% | +395% |
| Tennessee | $330,844 | +1.4% | +376% |
| Texas | $296,424 | +2.3% | +344% |
| Utah | $532,920 | +5.8% | +592% |
| Vermont | $391,900 | −1.1% | +323% |
| Virginia | $412,252 | −0.1% | +315% |
| Washington | $587,533 | +6.7% | +460% |
| West Virginia | $176,576 | +4.0% | +244% |
| Wisconsin | $337,196 | +4.8% | +353% |
| Wyoming | $369,044 | +5.3% | +460% |
FHFA change: from the 1991 yearly average through Q2 2026, using FHFA’s all-transactions house price index. FHFA HPI datasets
Current value of a 1991 home
Consider a home with a 1991 cost of $119,975, which matched the median new-house price. If it grew with the FHFA index, it would now be worth about $510,681. With consumer prices alone, it would be worth $296,819. With inflation accounted for, the median new house today costs 33% more than the median new-house price in 1991.
| A $119,975 home from 1991 | Worth now | As of |
|---|---|---|
| Grown with the FHFA house price index for the US | $510,681 | Q2 2026 |
| Grown with consumer prices only (CPI-U) | $296,819 | September 2026 |
Comparing each series with its own 1991 and current values:
| Series | 1991 | Now | As of | Change |
|---|---|---|---|---|
| Median new house sold, Census and HUD | $119,975 | $393,300 | Q3 2026 | +228% |
| Average new house sold, Census and HUD | $147,275 | $494,400 | Q3 2026 | +236% |
| FHFA house price index (an index, not dollars) | 169.1 | 719.9 | Q2 2026 | +326% |
| Consumer prices (CPI-U) | 136.2 | 336.9 | September 2026 | +147% |
Use the home appreciation calculator for a specific city and purchase price.
The year 1991 in context
The grey line shows average new house prices, while the steel line shows the median. A dashed line identifies 1991.
For the previous year, see home prices in 1990. For the following year, see home prices in 1992. See home prices by year for every year on one page. See housing market crash history for every fall since 1975. Use the home appreciation calculator to find the current city-by-city value of a home bought in 1991.