Metro area index
Home appreciation in the Flagstaff, AZ metro area
FHFA HPI® data shows the Flagstaff, AZ metro area's all-transactions index changed +2.9% over the year to Q2 2026, versus +0.9% for Arizona and +3.0% for the U.S. That ranks 231st of 410 metro areas and divisions FHFA tracks.
- 1-year change
- +2.9%
- 5-year change
- +46.7%
- Since Q1 1995
- +394%
- Metro rank (1 year)
- 231st
U.S. +3.0%
U.S. +41.3%
U.S. +292%
of 410
Flagstaff, AZ vs Arizona and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- Flagstaff, AZ: 494.1
- Arizona: 471.5
- United States: 391.6
Appreciation by time window
| Window | Metro | AZ | U.S. | Gap vs AZ | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +2.9% | +0.9% | +3.0% | +2.0 pts | −0.1 pts |
| 3 years | +12.2% | +8.2% | +12.9% | +4.0 pts | −0.7 pts |
| 5 years | +46.7% | +36.3% | +41.3% | +10.4 pts | +5.4 pts |
| 10 years | +118% | +116% | +93.3% | +1.9 pts | +24.7 pts |
| Since Q1 1995 | +394% | +372% | +292% | +22.6 pts | +102.6 pts |
3-digit ZIP regions in the Flagstaff, AZ 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 |
|---|---|---|---|---|---|
| 860 · Flagstaff, AZ area | AZ | +2.8% | +47.5% | +393% | 72% |
Boom, bust, and recovery in Flagstaff, AZ area
Flagstaff, AZ area's index peaked in Q2 2007, fell 33.9% to its low in Q1 2012, and regained its peak in Q2 2018, about 11 years after the top. Today it sits +90.1% 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 2007 | Q1 2012 | -33.9% | Q2 2018 (11 yrs) | +90.1% |
| AZ | Q4 2006 | Q2 2011 | -46.0% | Q3 2019 (12.8 yrs) | +72.5% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, Flagstaff, AZ area's index has changed +123% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | Metro after inflation | AZ after inflation | U.S. after inflation |
|---|---|---|---|---|
| 1 year | +3.9% | -0.9% | -2.8% | -0.8% |
| 3 years | +9.8% | +2.2% | -1.4% | +2.8% |
| 5 years | +24.0% | +18.3% | +9.9% | +13.9% |
| 10 years | +39.1% | +56.7% | +55.4% | +39.0% |
| Since Q1 1995 | +121% | +123% | +113% | +76.8% |
If you bought in the Flagstaff, AZ 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% | $1,472,524 |
| Q2 2000 | +304% | $1,212,192 |
| Q2 2005 | +145% | $733,784 |
| Q2 2010 | +152% | $755,705 |
| Q2 2015 | +131% | $691,930 |
| Q2 2020 | +71.4% | $514,344 |
| Q2 2021 | +46.7% | $440,048 |
| Q2 2023 | +12.2% | $336,608 |
| Q2 2025 | +2.9% | $308,670 |
Frequently asked questions
- How much have home prices risen in the Flagstaff, AZ area?
- FHFA HPI® data for the Flagstaff, AZ metro area shows changes of +2.9% over one year, +46.7% over five years, and +118% over ten years to Q2 2026, and +394% since Q1 1995.
- Is the Flagstaff, AZ area beating the national average?
- Over the past year the metro's index moved −0.1 pts versus the U.S.; over five years the gap is +5.4 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.