Metro area index
Home appreciation in the Bellingham, WA metro area
FHFA HPI® data shows the Bellingham, WA metro area's all-transactions index changed +0.5% over the year to Q2 2026, versus +1.1% for Washington and +3.0% for the U.S. That ranks 347th of 410 metro areas and divisions FHFA tracks.
- 1-year change
- +0.5%
- 5-year change
- +34.4%
- Since Q1 1995
- +390%
- Metro rank (1 year)
- 347th
U.S. +3.0%
U.S. +41.3%
U.S. +292%
of 410
Bellingham, WA vs Washington and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- Bellingham, WA: 490.3
- Washington: 486.5
- United States: 391.6
Appreciation by time window
| Window | Metro | WA | U.S. | Gap vs WA | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +0.5% | +1.1% | +3.0% | −0.6 pts | −2.5 pts |
| 3 years | +11.6% | +8.2% | +12.9% | +3.4 pts | −1.3 pts |
| 5 years | +34.4% | +29.7% | +41.3% | +4.6 pts | −6.9 pts |
| 10 years | +116% | +105% | +93.3% | +11.1 pts | +22.6 pts |
| Since Q1 1995 | +390% | +387% | +292% | +3.8 pts | +98.8 pts |
3-digit ZIP regions in the Bellingham, WA area
Regions with at least 10% of their 2010 population inside the metro, largest overlap first. A 3-digit ZIP region can extend beyond the metro boundary.
| 3-digit ZIP region | State | 1 year | 5 years | Since Q1 1995 | Population in metro |
|---|---|---|---|---|---|
| 982 · Everett, WA area | WA | +0.8% | +33.6% | +377% | 23% |
Boom, bust, and recovery in Bellingham, WA area
Bellingham, WA area's index peaked in Q1 2008, fell 17.2% to its low in Q2 2012, and regained its peak in Q3 2016, about 8.5 years after the top. Today it sits +115% versus that 2000s peak. How every state and ZIP region fared
| Area | 2000s peak | Low point | Peak to low | Back to peak | Today vs peak |
|---|---|---|---|---|---|
| Metro | Q1 2008 | Q2 2012 | -17.2% | Q3 2016 (8.5 yrs) | +115% |
| WA | Q4 2007 | Q2 2012 | -25.2% | Q2 2016 (8.5 yrs) | +106% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, Bellingham, WA area's index has changed +121% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | Metro after inflation | WA after inflation | U.S. after inflation |
|---|---|---|---|---|
| 1 year | +3.9% | -3.3% | -2.7% | -0.8% |
| 3 years | +9.8% | +1.6% | -1.4% | +2.8% |
| 5 years | +24.0% | +8.3% | +4.6% | +13.9% |
| 10 years | +39.1% | +55.3% | +47.3% | +39.0% |
| Since Q1 1995 | +121% | +121% | +120% | +76.8% |
If you bought in the Bellingham, WA area in…
An example $300,000 purchase grown at the metro index rate to Q2 2026.
| Bought in | Index change | $300,000 then, at the metro rate |
|---|---|---|
| Q2 1995 | +389% | $1,467,029 |
| Q2 2000 | +339% | $1,316,558 |
| Q2 2005 | +159% | $777,931 |
| Q2 2010 | +143% | $727,781 |
| Q2 2015 | +131% | $693,242 |
| Q2 2020 | +56.4% | $469,335 |
| Q2 2021 | +34.4% | $403,055 |
| Q2 2023 | +11.6% | $334,841 |
| Q2 2025 | +0.5% | $301,457 |
Frequently asked questions
- How much have home prices risen in the Bellingham, WA area?
- FHFA HPI® data for the Bellingham, WA metro area shows changes of +0.5% over one year, +34.4% over five years, and +116% over ten years to Q2 2026, and +390% since Q1 1995.
- Is the Bellingham, WA area beating the national average?
- Over the past year the metro's index moved −2.5 pts versus the U.S.; over five years the gap is −6.9 pts.
- What area does this metro index cover?
- FHFA computes metro indexes using the counties in each OMB-defined metropolitan statistical area. The index covers the whole area, so individual neighborhoods and homes can differ from it.