Metro area index
Home appreciation in the Elmira, NY metro area
FHFA HPI® data shows the Elmira, NY metro area's all-transactions index changed +3.0% over the year to Q2 2026, versus +5.3% for New York and +3.0% for the U.S. That ranks 228th of 410 metro areas and divisions FHFA tracks.
- 1-year change
- +3.0%
- 5-year change
- +41.2%
- Since Q1 1995
- +170%
- Metro rank (1 year)
- 228th
U.S. +3.0%
U.S. +41.3%
U.S. +292%
of 410
Elmira, NY vs New York and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- Elmira, NY: 270.3
- New York: 433.4
- United States: 391.6
Appreciation by time window
| Window | Metro | NY | U.S. | Gap vs NY | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +3.0% | +5.3% | +3.0% | −2.3 pts | −0.0 pts |
| 3 years | +8.8% | +22.4% | +12.9% | −13.6 pts | −4.1 pts |
| 5 years | +41.2% | +49.9% | +41.3% | −8.7 pts | −0.1 pts |
| 10 years | +67.8% | +96.6% | +93.3% | −28.8 pts | −25.5 pts |
| Since Q1 1995 | +170% | +333% | +292% | −163.1 pts | −121.2 pts |
3-digit ZIP regions in the Elmira, NY 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 |
|---|---|---|---|---|---|
| 149 · Elmira, NY area | NY | +3.0% | +41.2% | +170% | 100% |
| 148 · Ithaca, NY area | NY | +8.6% | +52.0% | +253% | 14% |
Boom, bust, and recovery in Elmira, NY area
Elmira, NY area's index peaked in Q2 2009, fell 3.9% to its low in Q3 2009, and regained its peak in Q4 2010, about 1.5 years after the top. Today it sits +71.7% 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 | Q2 2009 | Q3 2009 | -3.9% | Q4 2010 (1.5 yrs) | +71.7% |
| NY | Q1 2007 | Q2 2012 | -14.0% | Q3 2017 (10.5 yrs) | +85.2% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, Elmira, NY area's index has changed +22.1% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | Metro after inflation | NY after inflation | U.S. after inflation |
|---|---|---|---|---|
| 1 year | +3.9% | -0.8% | +1.4% | -0.8% |
| 3 years | +9.8% | -0.9% | +11.5% | +2.8% |
| 5 years | +24.0% | +13.9% | +20.8% | +13.9% |
| 10 years | +39.1% | +20.7% | +41.4% | +39.0% |
| Since Q1 1995 | +121% | +22.1% | +95.8% | +76.8% |
If you bought in the Elmira, NY 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 | +190% | $871,376 |
| Q2 2000 | +139% | $718,008 |
| Q2 2005 | +97.9% | $593,784 |
| Q2 2010 | +78.5% | $535,448 |
| Q2 2015 | +67.9% | $503,783 |
| Q2 2020 | +47.1% | $441,307 |
| Q2 2021 | +41.2% | $423,693 |
| Q2 2023 | +8.8% | $326,328 |
| Q2 2025 | +3.0% | $308,949 |
Frequently asked questions
- How much have home prices risen in the Elmira, NY area?
- FHFA HPI® data for the Elmira, NY metro area shows changes of +3.0% over one year, +41.2% over five years, and +67.8% over ten years to Q2 2026, and +170% since Q1 1995.
- Is the Elmira, NY area beating the national average?
- Over the past year the metro's index moved −0.0 pts versus the U.S.; over five years the gap is −0.1 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.