Home prices in 2008: US median, top cities and today's value
The Zillow Home Value Index put the typical US home at $195,574 for 2008, averaging all twelve months of that year. The same index has reached $366,157 by September 2026, up roughly three quarters from its 2008 level.
- Typical home value during 2008
- $195,574Zillow ZHVI, averaged across the year.
- Median price of a new house sold in 2008
- $229,550Data from Census and HUD.
- Change since the 2008 baseline
- +87.2% change by September 2026, Zillow ZHVI.
House prices at the median and average in 2008
Homes of every age are covered by Zillow's typical value; only new houses are counted in the Census and HUD figures. The median sale price for a new house in 2008 was $229,550, compared with an average of $289,075. A few costly houses pulled that average 26% above the median. The FHFA index recorded its steepest series decline through that time in 2008, at −5.1% for the year.
| Year | Typical home (Zillow) | Median new house | Average new house | FHFA index, change on the year |
|---|---|---|---|---|
| 2003 | $155,308 | $192,125 | $244,550 | +6.2% |
| 2004 | $169,891 | $218,150 | $272,125 | +9.4% |
| 2005 | $189,732 | $236,550 | $291,275 | +11.4% |
| 2006 | $206,531 | $243,750 | $303,900 | +7.2% |
| 2007 | $208,448 | $244,950 | $309,800 | +1.1% |
| 2008 | $195,574 | $229,550 | $289,075 | −5.1% |
| 2009 | $177,542 | $215,650 | $269,350 | −5.5% |
| 2010 | $171,462 | $222,700 | $272,025 | −4.1% |
| 2011 | $162,508 | $224,900 | $264,600 | −3.9% |
| 2012 | $161,136 | $244,400 | $288,225 | −0.3% |
| 2013 | $171,420 | $266,225 | $321,650 | +3.7% |
The Zillow Home Value Index, averaged by year from monthly figures. Yearly new-house sales data from U.S. Census Bureau and HUD (FRED MSPUS, ASPUS). Yearly average from the FHFA all-transactions index. Learn more about median home prices and average home price in America.
2008 by month
From January 2008 to December 2008 the typical US home lost 8.8%, peaking at $204,002 in January 2008 and bottoming out at $185,958 in December 2008.
| Month | Typical US home value | Change on the month |
|---|---|---|
| January 2008 | $204,002 | −0.53% |
| February 2008 | $202,803 | −0.59% |
| March 2008 | $201,456 | −0.66% |
| April 2008 | $200,001 | −0.72% |
| May 2008 | $198,488 | −0.76% |
| June 2008 | $196,897 | −0.80% |
| July 2008 | $195,204 | −0.86% |
| August 2008 | $193,326 | −0.96% |
| September 2008 | $191,426 | −0.98% |
| October 2008 | $189,571 | −0.97% |
| November 2008 | $187,757 | −0.96% |
| December 2008 | $185,958 | −0.96% |
Zillow Home Value Index for the United States, seasonally adjusted and smoothed. Zillow Research data
Home prices in 2008 by city
Every one of the 259 cities that has both a page here and a 2008 value is worth more today. Since 2008, Buffalo has recorded the largest gain at +238%, while Detroit has the smallest at +8%. The forty cities people searched for most:
| City | Typical value, 2008 | Typical value, September 2026 | Change since the 2008 baseline |
|---|---|---|---|
| Austin | $236,690 | $491,960 | +108% |
| Seattle | $469,146 | $822,572 | +75% |
| San Francisco | $756,922 | $1,441,021 | +90% |
| Denver | $231,213 | $520,947 | +125% |
| Los Angeles | $494,113 | $927,891 | +88% |
| Dallas | $119,612 | $303,442 | +154% |
| Houston | $128,984 | $259,465 | +101% |
| San Diego | $437,957 | $980,490 | +124% |
| Phoenix | $201,710 | $404,067 | +100% |
| Chicago | $268,678 | $334,108 | +24% |
| Las Vegas | $243,525 | $417,475 | +71% |
| Portland, Oregon | $304,177 | $524,318 | +72% |
| Nashville | $182,560 | $425,889 | +133% |
| Atlanta | $211,834 | $380,331 | +80% |
| Boise | $201,710 | $500,215 | +148% |
| San Jose | $528,985 | $1,353,869 | +156% |
| Miami | $311,404 | $583,705 | +87% |
| San Antonio | $130,789 | $244,623 | +87% |
| Sacramento | $234,021 | $470,552 | +101% |
| Washington, DC | $378,968 | $566,961 | +50% |
| Boston | $372,760 | $761,236 | +104% |
| Tucson | $194,606 | $318,760 | +64% |
| Orlando | $205,378 | $372,775 | +82% |
| Colorado Springs | $217,527 | $439,542 | +102% |
| Charlotte | $177,572 | $389,648 | +119% |
| Philadelphia | $131,797 | $231,584 | +76% |
| New York City | $508,825 | $825,854 | +62% |
| Reno | $286,979 | $571,562 | +99% |
| Charleston, SC | $260,929 | $587,511 | +125% |
| Tampa | $181,002 | $375,619 | +108% |
| Pittsburgh | $105,541 | $234,620 | +122% |
| Cape Coral | $184,526 | $334,660 | +81% |
| Salt Lake City | $244,972 | $568,970 | +132% |
| Bend | $353,345 | $721,430 | +104% |
| Raleigh | $222,012 | $424,663 | +91% |
| Naples | $329,482 | $545,587 | +66% |
| Jacksonville | $169,467 | $284,832 | +68% |
| Detroit | $68,929 | $74,742 | +8% |
| Columbus, Ohio | $112,757 | $243,122 | +116% |
| Indianapolis | $93,694 | $227,445 | +143% |
Zillow Home Value Index: the 2008 yearly average and the September 2026 figure. See home prices by city for every city today.
Home prices in 2008 by state
By Zillow's typical value, Montana has climbed the most since 2008 at +141%, and Louisiana the least at +29%. During 2008, the FHFA index declined in 38 states, with Nevada posting the largest drop at −20.1%.
| State | Typical value, 2008 | Typical value, September 2026 | FHFA change in 2008 | FHFA change since 2008 |
|---|---|---|---|---|
| Alabama | $138,602 | $238,614 | +1.1% | +82% |
| Alaska | $249,539 | $397,932 | −0.4% | +75% |
| Arizona | $227,124 | $416,733 | −13.9% | +105% |
| Arkansas | $127,556 | $224,158 | −0.3% | +91% |
| California | $380,078 | $761,538 | −20.0% | +100% |
| Colorado | $232,728 | $529,013 | −0.9% | +140% |
| Connecticut | $290,825 | $447,319 | −4.3% | +65% |
| Delaware | $269,756 | $405,061 | −3.3% | +63% |
| District of Columbia | $379,292 | $567,271 | −6.0% | +76% |
| Florida | $206,141 | $375,361 | −17.1% | +116% |
| Georgia | $166,338 | $329,115 | −2.3% | +108% |
| Hawaii | $465,037 | $832,932 | −4.9% | +92% |
| Idaho | $201,758 | $476,754 | −2.6% | +147% |
| Illinois | $201,059 | $295,943 | −3.9% | +59% |
| Indiana | $119,570 | $257,165 | −0.6% | +113% |
| Iowa | $123,446 | $236,623 | +0.5% | +88% |
| Kansas | $121,206 | $246,055 | −0.2% | +105% |
| Kentucky | $117,101 | $230,909 | +0.6% | +103% |
| Louisiana | $165,446 | $213,867 | +0.4% | +55% |
| Maine | $201,307 | $412,002 | −1.7% | +115% |
| Maryland | $315,135 | $424,890 | −7.4% | +47% |
| Massachusetts | $330,703 | $655,219 | −5.4% | +104% |
| Michigan | $129,122 | $263,760 | −7.8% | +112% |
| Minnesota | $196,331 | $348,778 | −5.0% | +78% |
| Mississippi | $126,439 | $194,531 | −0.1% | +68% |
| Missouri | $140,197 | $265,387 | −1.6% | +96% |
| Montana | $193,989 | $467,275 | +1.4% | +128% |
| Nebraska | $130,926 | $278,299 | −0.3% | +119% |
| Nevada | $251,273 | $440,739 | −20.1% | +104% |
| New Hampshire | $240,411 | $510,937 | −4.7% | +112% |
| New Jersey | $340,988 | $575,123 | −5.5% | +80% |
| New Mexico | $191,124 | $315,812 | −1.2% | +73% |
| New York | $279,766 | $524,942 | −3.0% | +93% |
| North Carolina | $172,697 | $332,159 | +1.1% | +110% |
| North Dakota | $290,657 | +3.2% | +118% | |
| Ohio | $126,649 | $245,982 | −2.6% | +103% |
| Oklahoma | $113,407 | $220,801 | +2.0% | +96% |
| Oregon | $263,970 | $492,753 | −3.6% | +95% |
| Pennsylvania | $170,773 | $287,078 | −0.9% | +86% |
| Rhode Island | $270,310 | $508,507 | −8.1% | +99% |
| South Carolina | $164,446 | $304,319 | +0.6% | +113% |
| South Dakota | $146,715 | $317,874 | +2.5% | +121% |
| Tennessee | $150,743 | $330,844 | +0.4% | +136% |
| Texas | $145,537 | $296,424 | +1.8% | +136% |
| Utah | $241,299 | $532,920 | −1.2% | +133% |
| Vermont | $220,665 | $391,900 | −0.2% | +97% |
| Virginia | $247,069 | $412,252 | −4.9% | +77% |
| Washington | $307,411 | $587,533 | −2.7% | +113% |
| West Virginia | $176,576 | −0.5% | +74% | |
| Wisconsin | $176,790 | $337,196 | −1.6% | +101% |
| Wyoming | $205,295 | $369,044 | +2.1% | +86% |
The typical value uses the 2008 average and September 2026 figures from the Zillow Home Value Index. For FHFA changes, the all-transactions house price index compares the 2008 yearly average with Q2 2026. FHFA HPI datasets
What a home from 2008 is worth today
A home priced at $195,574 during 2008 matched the typical US value for that year. Applying the Zillow index gives that home about $366,157 today, while consumer prices alone give $306,065. With inflation accounted for, the median new house now costs 9% more than it did in 2008.
| A $195,574 home from 2008 | Worth now | As of |
|---|---|---|
| Grown with the Zillow index for the US | $366,157 | September 2026 |
| Grown with the FHFA house price index for the US | $392,977 | Q2 2026 |
| Grown with consumer prices only (CPI-U) | $306,065 | September 2026 |
Every series measured against itself, in 2008 and today:
| Series | 2008 | Now | As of | Change |
|---|---|---|---|---|
| Median new house sold, Census and HUD | $229,550 | $393,300 | Q3 2026 | +71% |
| Average new house sold, Census and HUD | $289,075 | $494,400 | Q3 2026 | +71% |
| Typical home value, Zillow ZHVI | $195,574 | $366,157 | September 2026 | +87% |
| FHFA house price index (an index, not dollars) | 358.3 | 719.9 | Q2 2026 | +101% |
| Consumer prices (CPI-U) | 215.3 | 336.9 | September 2026 | +56% |
Use the home appreciation calculator for any city and amount paid.
2008 in a wider setting
For the Zillow line covering the entire country, a dashed line shows 2008. The national downturn that included 2008 saw the typical home fall 24% from April 2007 to February 2012, with its old high passed again in January 2017.
Before that: home prices in 2007. After that: home prices in 2009. All years on a single page: home prices by year. The housing market crash history covers every fall since 1975. For each city, see what a home purchased in 2008 is worth now with the home appreciation calculator.