Home prices in 1993: US median, states and today's value
In 1993, Census and HUD put the US median new-house price at $126,500, or about $295,054 in September 2026 dollars. Since then the FHFA house price index has multiplied about 4.0 times, and the typical US home is worth $366,157 in September 2026 (Zillow).
- New house sales, median, 1993
- $126,500Reported by Census and HUD.
- Value in September 2026 dollars
- $295,054. Adjusted using CPI-U.
House prices in 1993: median and average
A new house cost a median of $126,500 in 1993, while the average cost was $147,475. A few high-priced houses raise averages, so the average stood 17% above the median. The FHFA index showed steady growth in 1993, rising +2.3% over the year.
| Year | Median new house | Average new house | FHFA index, change on the year |
|---|---|---|---|
| 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% |
| 1998 | $151,925 | $181,150 | +5.1% |
U.S. Census Bureau and HUD data cover yearly new house sales (FRED MSPUS, ASPUS). Yearly average of the FHFA all-transactions index. Learn more about both measures: median home price and average price in America.
Home prices in 1993 by state
Utah recorded the largest FHFA index increase since 1993, at +486%, while Illinois had the smallest, at +202%. The FHFA index declined during 1993 in six states: California −3.8%, Connecticut −1.7%, District of Columbia −0.7%, New Hampshire −0.6%, Maine −0.4%, and Rhode Island −0.4%.
| State | Typical value, September 2026 | FHFA change in 1993 | FHFA change since 1993 |
|---|---|---|---|
| Alabama | $238,614 | +4.3% | +235% |
| Alaska | $397,932 | +1.9% | +262% |
| Arizona | $416,733 | +2.5% | +411% |
| Arkansas | $224,158 | +4.5% | +243% |
| California | $761,538 | −3.8% | +350% |
| Colorado | $529,013 | +9.1% | +450% |
| Connecticut | $447,319 | −1.7% | +220% |
| Delaware | $405,061 | +0.4% | +236% |
| District of Columbia | $567,271 | −0.7% | +434% |
| Florida | $375,361 | +2.3% | +406% |
| Georgia | $329,115 | +2.8% | +288% |
| Hawaii | $832,932 | +0.5% | +271% |
| Idaho | $476,754 | +8.8% | +438% |
| Illinois | $295,943 | +3.5% | +202% |
| Indiana | $257,165 | +3.7% | +242% |
| Iowa | $236,623 | +5.1% | +244% |
| Kansas | $246,055 | +3.1% | +281% |
| Kentucky | $230,909 | +3.7% | +270% |
| Louisiana | $213,867 | +5.0% | +226% |
| Maine | $412,002 | −0.4% | +362% |
| Maryland | $424,890 | +0.8% | +241% |
| Massachusetts | $655,219 | +0.2% | +369% |
| Michigan | $263,760 | +2.8% | +259% |
| Minnesota | $348,778 | +3.8% | +299% |
| Mississippi | $194,531 | +3.1% | +217% |
| Missouri | $265,387 | +2.0% | +270% |
| Montana | $467,275 | +10.1% | +470% |
| Nebraska | $278,299 | +4.7% | +287% |
| Nevada | $440,739 | +2.4% | +295% |
| New Hampshire | $510,937 | −0.6% | +388% |
| New Jersey | $575,123 | +1.4% | +312% |
| New Mexico | $315,812 | +6.3% | +263% |
| New York | $524,942 | +0.6% | +313% |
| North Carolina | $332,159 | +2.7% | +304% |
| North Dakota | $290,657 | +4.8% | +331% |
| Ohio | $245,982 | +3.9% | +221% |
| Oklahoma | $220,801 | +3.9% | +256% |
| Oregon | $492,753 | +7.7% | +422% |
| Pennsylvania | $287,078 | +1.7% | +250% |
| Rhode Island | $508,507 | −0.4% | +334% |
| South Carolina | $304,319 | +2.7% | +313% |
| South Dakota | $317,874 | +6.8% | +336% |
| Tennessee | $330,844 | +3.4% | +347% |
| Texas | $296,424 | +2.9% | +317% |
| Utah | $532,920 | +10.9% | +486% |
| Vermont | $391,900 | +0.9% | +315% |
| Virginia | $412,252 | +1.0% | +304% |
| Washington | $587,533 | +4.0% | +418% |
| West Virginia | $176,576 | +4.7% | +214% |
| Wisconsin | $337,196 | +5.0% | +309% |
| Wyoming | $369,044 | +7.9% | +388% |
FHFA change uses the FHFA all-transactions house price index from the 1993 yearly average through Q2 2026. FHFA HPI datasets
Current value of a 1993 home
Consider a house whose 1993 cost was $126,500, which equaled the median new-house price. Applying the FHFA index gives that home a current value of about $511,967. Applying consumer price growth alone gives $295,054. Once inflation is accounted for, a new house at today's median price costs 33% more than in 1993.
| A $126,500 home from 1993 | Worth now | As of |
|---|---|---|
| Growth based on the US FHFA house price index | $511,967 | Q2 2026 |
| Grown with consumer prices only (CPI-U) | $295,054 | September 2026 |
Each series shown against itself in 1993 and now:
| Series | 1993 | Now | As of | Change |
|---|---|---|---|---|
| Median new house sold, Census and HUD | $126,500 | $393,300 | Q3 2026 | +211% |
| Average new house sold, Census and HUD | $147,475 | $494,400 | Q3 2026 | +235% |
| FHFA house price index (an index, not dollars) | 177.9 | 719.9 | Q2 2026 | +305% |
| Consumer prices (CPI-U) | 144.5 | 336.9 | September 2026 | +133% |
Enter a city and purchase price in the appreciation calculator.
Where 1993 stands
Steel indicates the median new house, while grey represents the average. The dashed line identifies 1993.
Before this year: home prices in 1992. After this year: home prices in 1994. All years appear on one page in the home prices by year guide. Since 1975, each fall appears in the housing market crash history. Use the appreciation calculator to compare a 1993 purchase with its current city-by-city value.