Home prices in 1992: US median, states and today's value
In 1992, the median price of a new US home was $121,375 (Census and HUD), or about $291,455 in September 2026 dollars. A typical US home in September 2026 is worth $366,157 (Zillow), after the FHFA house price index multiplied about 4.1 times since then.
- 1992 median sale price for a new house
- $121,375Sources: Census and HUD.
- Adjusted to September 2026 dollars
- Using CPI-U, this amount was adjusted to $291,455.
Median and average house price in 1992
New houses had a $121,375 median sale price and a $144,675 average in 1992. The average was 19% higher than the median because a few costly houses raise it. The FHFA index had a steady 1992, with a yearly gain of +2.8%.
| Year | Median new house | Average new house | FHFA index, change on the year |
|---|---|---|---|
| 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% |
| 1997 | $145,000 | $174,875 | +3.3% |
Yearly figures for new houses sold come from the U.S. Census Bureau and HUD (FRED MSPUS, ASPUS). The yearly average of the FHFA all-transactions index. Further reading explains both measures: the home price median and average price across America.
Home prices in 1992 by state
Utah had the largest FHFA index rise since 1992, at +550%, while Illinois had the smallest, at +212%. During 1992, the FHFA index declined in six states (New Hampshire −3.1%, Rhode Island −1.7%, California −1.2%, Connecticut −1.1%, Massachusetts −1.0%, Maine −0.3%).
| State | Typical value, September 2026 | FHFA change in 1992 | FHFA change since 1992 |
|---|---|---|---|
| Alabama | $238,614 | +4.0% | +249% |
| Alaska | $397,932 | +4.7% | +269% |
| Arizona | $416,733 | +3.0% | +424% |
| Arkansas | $224,158 | +3.3% | +258% |
| California | $761,538 | −1.2% | +333% |
| Colorado | $529,013 | +6.9% | +500% |
| Connecticut | $447,319 | −1.1% | +215% |
| Delaware | $405,061 | +1.1% | +237% |
| District of Columbia | $567,271 | +2.1% | +430% |
| Florida | $375,361 | +2.7% | +417% |
| Georgia | $329,115 | +2.6% | +299% |
| Hawaii | $832,932 | +1.4% | +273% |
| Idaho | $476,754 | +6.7% | +485% |
| Illinois | $295,943 | +3.7% | +212% |
| Indiana | $257,165 | +4.2% | +254% |
| Iowa | $236,623 | +4.3% | +261% |
| Kansas | $246,055 | +2.8% | +292% |
| Kentucky | $230,909 | +3.6% | +284% |
| Louisiana | $213,867 | +5.2% | +243% |
| Maine | $412,002 | −0.3% | +360% |
| Maryland | $424,890 | +2.0% | +244% |
| Massachusetts | $655,219 | −1.0% | +370% |
| Michigan | $263,760 | +3.5% | +269% |
| Minnesota | $348,778 | +3.3% | +314% |
| Mississippi | $194,531 | +3.7% | +227% |
| Missouri | $265,387 | +2.3% | +277% |
| Montana | $467,275 | +9.7% | +527% |
| Nebraska | $278,299 | +4.5% | +306% |
| Nevada | $440,739 | +3.8% | +304% |
| New Hampshire | $510,937 | −3.1% | +385% |
| New Jersey | $575,123 | +1.1% | +317% |
| New Mexico | $315,812 | +5.5% | +286% |
| New York | $524,942 | +2.2% | +316% |
| North Carolina | $332,159 | +2.9% | +315% |
| North Dakota | $290,657 | +4.0% | +352% |
| Ohio | $245,982 | +4.4% | +234% |
| Oklahoma | $220,801 | +3.3% | +270% |
| Oregon | $492,753 | +7.9% | +463% |
| Pennsylvania | $287,078 | +2.6% | +256% |
| Rhode Island | $508,507 | −1.7% | +333% |
| South Carolina | $304,319 | +3.2% | +324% |
| South Dakota | $317,874 | +6.3% | +365% |
| Tennessee | $330,844 | +3.2% | +362% |
| Texas | $296,424 | +3.6% | +329% |
| Utah | $532,920 | +6.5% | +550% |
| Vermont | $391,900 | +0.9% | +319% |
| Virginia | $412,252 | +1.6% | +308% |
| Washington | $587,533 | +4.1% | +438% |
| West Virginia | $176,576 | +4.6% | +229% |
| Wisconsin | $337,196 | +5.4% | +330% |
| Wyoming | $369,044 | +6.2% | +427% |
FHFA change: the FHFA house price index covering all transactions, from the 1992 yearly average through Q2 2026. FHFA HPI datasets
A 1992 home's value today
Consider a home with a 1992 price of $121,375, the median for new houses. With growth measured by the FHFA index, that home would now be worth about $502,671; with consumer prices alone, it would be worth $291,455. Once you adjust for inflation, the median new house today runs 35% above the price paid in 1992.
| A $121,375 home from 1992 | Worth now | As of |
|---|---|---|
| Growth using the US FHFA house price index | $502,671 | Q2 2026 |
| Grown with consumer prices only (CPI-U) | $291,455 | September 2026 |
Each series compared with itself in 1992 and today:
| Series | 1992 | Now | As of | Change |
|---|---|---|---|---|
| Median new house sold, Census and HUD | $121,375 | $393,300 | Q3 2026 | +224% |
| Average new house sold, Census and HUD | $144,675 | $494,400 | Q3 2026 | +242% |
| FHFA house price index (an index, not dollars) | 173.8 | 719.9 | Q2 2026 | +314% |
| Consumer prices (CPI-U) | 140.3 | 336.9 | September 2026 | +140% |
Use the home appreciation calculator for a specific city and purchase price.
Context for the year 1992
The steel line shows the median new house, while the grey line shows the average. A dashed line marks 1992.
See the previous year: home prices in 1991. See the following year: home prices in 1993. Find home prices by year for every year on one page. Review the housing market crash history for every fall since 1975. Find the current value in each city for a home purchased in 1992 with the home appreciation calculator.