Metro area index
Home appreciation in the Boston, MA metropolitan division
FHFA HPI® data shows the Boston, MA metropolitan division's all-transactions index changed +3.2% over the year to Q2 2026, versus +3.2% for Massachusetts and +3.0% for the U.S. That ranks 216th of 410 metro areas and divisions FHFA tracks.
- 1-year change
- +3.2%
- 5-year change
- +39.7%
- Since Q1 1995
- +402%
- Metro rank (1 year)
- 216th
U.S. +3.0%
U.S. +41.3%
U.S. +292%
of 410
Boston, MA vs Massachusetts and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- Boston, MA: 502.1
- Massachusetts: 471.6
- United States: 391.6
Appreciation by time window
| Window | Metro | MA | U.S. | Gap vs MA | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +3.2% | +3.2% | +3.0% | +0.0 pts | +0.2 pts |
| 3 years | +15.7% | +16.1% | +12.9% | −0.3 pts | +2.9 pts |
| 5 years | +39.7% | +41.9% | +41.3% | −2.1 pts | −1.5 pts |
| 10 years | +88.1% | +91.9% | +93.3% | −3.8 pts | −5.2 pts |
| Since Q1 1995 | +402% | +372% | +292% | +30.6 pts | +110.6 pts |
3-digit ZIP regions in the Boston, MA area
Regions with at least 10% of their 2010 population inside the metro division, 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 |
|---|---|---|---|---|---|
| 022 · Boston, MA area | MA | +3.2% | +39.7% | +402% | 100% |
| 023 · Brockton, MA area | MA | +3.6% | +42.3% | +387% | 95% |
| 020 · Franklin Town, MA area | MA | +3.1% | +41.1% | +356% | 94% |
| 021 · Boston, MA area | MA | +3.2% | +34.4% | +492% | 70% |
| 024 · Newton, MA area | MA | +3.5% | +32.2% | +395% | 30% |
| 025 · Nantucket, MA area | MA | +4.3% | +49.4% | +470% | 19% |
Boom, bust, and recovery in Boston, MA area
Boston, MA area's index peaked in Q1 2006, fell 17.9% to its low in Q2 2011, and regained its peak in Q4 2016, about 10.8 years after the top. Today it sits +84.2% 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 2006 | Q2 2011 | -17.9% | Q4 2016 (10.8 yrs) | +84.2% |
| MA | Q1 2006 | Q2 2012 | -17.6% | Q2 2017 (11.2 yrs) | +84.2% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, Boston, MA area's index has changed +127% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | Metro after inflation | MA after inflation | U.S. after inflation |
|---|---|---|---|---|
| 1 year | +3.9% | -0.6% | -0.7% | -0.8% |
| 3 years | +9.8% | +5.4% | +5.7% | +2.8% |
| 5 years | +24.0% | +12.7% | +14.4% | +13.9% |
| 10 years | +39.1% | +35.3% | +38.0% | +39.0% |
| Since Q1 1995 | +121% | +127% | +113% | +76.8% |
If you bought in the Boston, MA 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 | +391% | $1,471,803 |
| Q2 2000 | +227% | $980,085 |
| Q2 2005 | +87.9% | $563,832 |
| Q2 2010 | +120% | $659,800 |
| Q2 2015 | +98.8% | $596,496 |
| Q2 2020 | +55.6% | $466,736 |
| Q2 2021 | +39.7% | $419,210 |
| Q2 2023 | +15.7% | $347,190 |
| Q2 2025 | +3.2% | $309,613 |
Frequently asked questions
- How much have home prices risen in the Boston, MA area?
- FHFA HPI® data for the Boston, MA metropolitan division shows changes of +3.2% over one year, +39.7% over five years, and +88.1% over ten years to Q2 2026, and +402% since Q1 1995.
- Is the Boston, MA area beating the national average?
- Over the past year the metro's index moved +0.2 pts versus the U.S.; over five years the gap is −1.5 pts.
- What area does this metro index cover?
- FHFA computes metro indexes using the counties in each OMB-defined metropolitan division. The index covers the whole area, so individual neighborhoods and homes can differ from it.