Zillow Home Value Index · U.S. metro areas

U.S. Housing Market Dynamics

Typical home values for every U.S. metro in the Zillow data. Part of a graduate research project at Iowa State University. View the project on GitHub

Metro explorer

Typical home value by month. Add up to four metros to compare; the dashed line is the median of all metros.

Post-COVID price growth

Change in typical home value, March 2020 to the latest month

Seasonality

How far home values sit above or below their yearly trend, by calendar month, averaged across all metros and years

Values run above trend from May to September and below it in winter.

Market clusters

K-Means groups from the project's notebook, plotted by post-COVID growth and price volatility. Each dot is a metro.

Medians per cluster. Growth is March 2020 to the latest month; volatility and average value cover the whole period.

Median home value by state

About the data

Source: Zillow Home Value Index (ZHVI) for all homes, middle price tier, smoothed and seasonally adjusted, by metro area. Data provided by Zillow Group.

Post-COVID growth compares March 2020 with the latest month in the data. 10-year CAGR is the compound annual growth over the last ten years. Volatility is the standard deviation of a metro's monthly values over the whole period.

The figures in the research report use data through January 2024; this dashboard uses the full file, so its numbers can differ slightly from the report.