Metro area index
Home appreciation in the Frederick-Gaithersburg-Bethesda, MD metropolitan division
FHFA HPI® data shows the Frederick-Gaithersburg-Bethesda, MD metropolitan division's all-transactions index changed +1.3% over the year to Q2 2026, versus +2.2% for Maryland and +3.0% for the U.S. That ranks 305th of 410 metro areas and divisions FHFA tracks.
- 1-year change
- +1.3%
- 5-year change
- +29.4%
- Since Q1 1995
- +261%
- Metro rank (1 year)
- 305th
U.S. +3.0%
U.S. +41.3%
U.S. +292%
of 410
Frederick-Gaithersburg-Bethesda, MD vs Maryland and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- Frederick-Gaithersburg-Bethesda, MD: 361.0
- Maryland: 348.0
- United States: 391.6
Appreciation by time window
| Window | Metro | MD | U.S. | Gap vs MD | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +1.3% | +2.2% | +3.0% | −0.9 pts | −1.7 pts |
| 3 years | +9.2% | +11.2% | +12.9% | −2.0 pts | −3.6 pts |
| 5 years | +29.4% | +32.0% | +41.3% | −2.6 pts | −11.9 pts |
| 10 years | +56.6% | +63.8% | +93.3% | −7.1 pts | −36.7 pts |
| Since Q1 1995 | +261% | +248% | +292% | +13.0 pts | −30.5 pts |
3-digit ZIP regions in the Frederick-Gaithersburg-Bethesda, MD 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 |
|---|---|---|---|---|---|
| 208 · Rockville, MD area | MD | +1.8% | +29.4% | +263% | 100% |
| 209 · Takoma Park, MD area | MD | -0.7% | +23.1% | +272% | 97% |
| 217 · Frederick, MD area | MD | +1.4% | +35.6% | +231% | 50% |
Boom, bust, and recovery in Frederick-Gaithersburg-Bethesda, MD area
Frederick-Gaithersburg-Bethesda, MD area's index peaked in Q4 2006, fell 22.1% to its low in Q2 2011, and regained its peak in Q1 2021, about 14.2 years after the top. Today it sits +37.3% 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 | Q4 2006 | Q2 2011 | -22.1% | Q1 2021 (14.2 yrs) | +37.3% |
| MD | Q2 2007 | Q2 2012 | -25.3% | Q2 2021 (14 yrs) | +35.2% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, Frederick-Gaithersburg-Bethesda, MD area's index has changed +63.1% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | Metro after inflation | MD after inflation | U.S. after inflation |
|---|---|---|---|---|
| 1 year | +3.9% | -2.5% | -1.6% | -0.8% |
| 3 years | +9.8% | -0.5% | +1.3% | +2.8% |
| 5 years | +24.0% | +4.3% | +6.5% | +13.9% |
| 10 years | +39.1% | +12.6% | +17.8% | +39.0% |
| Since Q1 1995 | +121% | +63.1% | +57.2% | +76.8% |
If you bought in the Frederick-Gaithersburg-Bethesda, MD 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 | +258% | $1,074,358 |
| Q2 2000 | +209% | $927,198 |
| Q2 2005 | +54.4% | $463,302 |
| Q2 2010 | +72.5% | $517,591 |
| Q2 2015 | +60.5% | $481,574 |
| Q2 2020 | +42.5% | $427,445 |
| Q2 2021 | +29.4% | $388,194 |
| Q2 2023 | +9.2% | $327,733 |
| Q2 2025 | +1.3% | $303,957 |
Frequently asked questions
- How much have home prices risen in the Frederick-Gaithersburg-Bethesda, MD area?
- FHFA HPI® data for the Frederick-Gaithersburg-Bethesda, MD metropolitan division shows changes of +1.3% over one year, +29.4% over five years, and +56.6% over ten years to Q2 2026, and +261% since Q1 1995.
- Is the Frederick-Gaithersburg-Bethesda, MD area beating the national average?
- Over the past year the metro's index moved −1.7 pts versus the U.S.; over five years the gap is −11.9 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.