Home prices in 1996: US median, states and today's value
New houses sold in the US had a median price of $140,250 in 1996 (Census and HUD), or about $301,280 when expressed in September 2026 dollars. More than three times its former level, the FHFA house price index has risen since then. Zillow valued a typical US home at $366,157 in September 2026.
- 1996: median new house sold
- $140,250Census, HUD.
- September 2026 dollar value
- $301,280. Adjusted using CPI-U.
1996 median and average house prices
In 1996 the median price of a new house was $140,250 and the average $165,525, 18% above the median. Averages run high because a few costly houses push the figure up. The FHFA index recorded its fastest annual rise in 1996 since 1989, increasing by +3.4%.
| Year | Median new house | Average new house | FHFA index, change on the year |
|---|---|---|---|
| 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% |
| 1999 | $160,125 | $194,675 | +4.9% |
| 2000 | $167,550 | $205,375 | +6.4% |
| 2001 | $173,100 | $211,050 | +7.5% |
New houses sold, yearly: HUD and the U.S. Census Bureau (FRED MSPUS, ASPUS). A yearly average of the FHFA all-transactions index. Read more about both measures, the median home price and the average home price in America.
Home prices in 1996 by state
The FHFA index has climbed the most in District of Columbia, +444%, since 1996, and the least in Illinois, +169%. The FHFA index fell in two states during 1996, with Hawaii dropping 5.0% and California dropping 0.2%.
| State | Typical value, September 2026 | FHFA change in 1996 | FHFA change since 1996 |
|---|---|---|---|
| Alabama | $238,614 | +4.0% | +199% |
| Alaska | $397,932 | +4.5% | +218% |
| Arizona | $416,733 | +4.8% | +338% |
| Arkansas | $224,158 | +3.4% | +199% |
| California | $761,538 | −0.2% | +384% |
| Colorado | $529,013 | +5.8% | +329% |
| Connecticut | $447,319 | +1.4% | +228% |
| Delaware | $405,061 | +1.7% | +235% |
| District of Columbia | $567,271 | +1.9% | +444% |
| Florida | $375,361 | +2.8% | +377% |
| Georgia | $329,115 | +4.6% | +250% |
| Hawaii | $832,932 | −5.0% | +298% |
| Idaho | $476,754 | +3.3% | +358% |
| Illinois | $295,943 | +3.5% | +169% |
| Indiana | $257,165 | +4.9% | +197% |
| Iowa | $236,623 | +4.6% | +191% |
| Kansas | $246,055 | +4.6% | +224% |
| Kentucky | $230,909 | +4.6% | +217% |
| Louisiana | $213,867 | +5.2% | +178% |
| Maine | $412,002 | +3.0% | +354% |
| Maryland | $424,890 | +1.7% | +236% |
| Massachusetts | $655,219 | +3.6% | +345% |
| Michigan | $263,760 | +7.9% | +196% |
| Minnesota | $348,778 | +5.0% | +248% |
| Mississippi | $194,531 | +4.3% | +175% |
| Missouri | $265,387 | +4.2% | +225% |
| Montana | $467,275 | +5.0% | +359% |
| Nebraska | $278,299 | +5.4% | +224% |
| Nevada | $440,739 | +2.9% | +265% |
| New Hampshire | $510,937 | +3.4% | +372% |
| New Jersey | $575,123 | +1.9% | +305% |
| New Mexico | $315,812 | +2.7% | +200% |
| New York | $524,942 | +1.9% | +317% |
| North Carolina | $332,159 | +4.6% | +252% |
| North Dakota | $290,657 | +3.8% | +273% |
| Ohio | $245,982 | +5.1% | +179% |
| Oklahoma | $220,801 | +3.8% | +218% |
| Oregon | $492,753 | +7.6% | +302% |
| Pennsylvania | $287,078 | +2.1% | +241% |
| Rhode Island | $508,507 | +0.7% | +344% |
| South Carolina | $304,319 | +4.4% | +273% |
| South Dakota | $317,874 | +4.5% | +272% |
| Tennessee | $330,844 | +5.5% | +282% |
| Texas | $296,424 | +2.6% | +291% |
| Utah | $532,920 | +8.7% | +314% |
| Vermont | $391,900 | +1.3% | +306% |
| Virginia | $412,252 | +2.0% | +289% |
| Washington | $587,533 | +3.1% | +363% |
| West Virginia | $176,576 | +3.8% | +175% |
| Wisconsin | $337,196 | +4.6% | +239% |
| Wyoming | $369,044 | +5.1% | +292% |
FHFA change: from the 1996 yearly average to Q2 2026, measured with the FHFA house price index for all transactions. HPI datasets
Current value of a 1996 home
Take a home priced at $140,250 in 1996, the median price for a new house. With the FHFA index, that home would now be worth about $519,324. Consumer prices alone would put its value at $301,280. Once inflation is taken out, today's median new house price is 31% above the 1996 figure.
| A $140,250 home from 1996 | Worth now | As of |
|---|---|---|
| Grown with the US FHFA house price index | $519,324 | Q2 2026 |
| Grown with consumer prices only (CPI-U) | $301,280 | September 2026 |
Each series compared with its own 1996 and current values:
| Series | 1996 | Now | As of | Change |
|---|---|---|---|---|
| Median new house sold, Census and HUD | $140,250 | $393,300 | Q3 2026 | +180% |
| Average new house sold, Census and HUD | $165,525 | $494,400 | Q3 2026 | +199% |
| FHFA house price index (an index, not dollars) | 194.4 | 719.9 | Q2 2026 | +270% |
| Consumer prices (CPI-U) | 156.8 | 336.9 | September 2026 | +115% |
For a specific city and the price paid there: the home appreciation calculator.
The year 1996 in context
The median new house appears as the steel line and the average as the grey line, while a dashed line marks 1996.
Before: home prices from 1995. After: home prices from 1997. Each year, all on a single page: home prices by year. The housing market crash timeline covers every fall from 1975 onward. The current value, city by city, of a home bought in 1996: the home appreciation calculator.