Metro area index
Home appreciation in the Watertown-Fort Drum, NY metro area
FHFA HPI® data shows the Watertown-Fort Drum, NY metro area's all-transactions index changed +8.9% over the year to Q2 2026, versus +5.3% for New York and +3.0% for the U.S. That ranks 14th of 410 metro areas and divisions FHFA tracks.
- 1-year change
- +8.9%
- 5-year change
- +39.1%
- Since Q1 1995
- +236%
- Metro rank (1 year)
- 14th
U.S. +3.0%
U.S. +41.3%
U.S. +292%
of 410
Watertown-Fort Drum, NY vs New York and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- Watertown-Fort Drum, NY: 335.8
- 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 | +8.9% | +5.3% | +3.0% | +3.6 pts | +5.9 pts |
| 3 years | +21.5% | +22.4% | +12.9% | −0.9 pts | +8.7 pts |
| 5 years | +39.1% | +49.9% | +41.3% | −10.7 pts | −2.1 pts |
| 10 years | +67.5% | +96.6% | +93.3% | −29.1 pts | −25.8 pts |
| Since Q1 1995 | +236% | +333% | +292% | −97.6 pts | −55.7 pts |
3-digit ZIP regions in the Watertown-Fort Drum, 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 |
|---|---|---|---|---|---|
| 136 · Watertown, NY area | NY | +8.9% | +39.1% | +236% | 49% |
Boom, bust, and recovery in Watertown-Fort Drum, NY area
Watertown-Fort Drum, NY area's index peaked in Q2 2009, fell 4.6% to its low in Q4 2009, and regained its peak in Q1 2010, about 0.8 years after the top. Today it sits +66.6% 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 | Q4 2009 | -4.6% | Q1 2010 (0.8 yrs) | +66.6% |
| 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, Watertown-Fort Drum, NY area's index has changed +51.7% 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% | +4.8% | +1.4% | -0.8% |
| 3 years | +9.8% | +10.7% | +11.5% | +2.8% |
| 5 years | +24.0% | +12.2% | +20.8% | +13.9% |
| 10 years | +39.1% | +20.4% | +41.4% | +39.0% |
| Since Q1 1995 | +121% | +51.7% | +95.8% | +76.8% |
If you bought in the Watertown-Fort Drum, 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 | +240% | $1,018,635 |
| Q2 2000 | +226% | $978,848 |
| Q2 2005 | +113% | $638,422 |
| Q2 2010 | +64.7% | $494,129 |
| Q2 2015 | +58.7% | $476,236 |
| Q2 2020 | +49.7% | $449,164 |
| Q2 2021 | +39.1% | $417,449 |
| Q2 2023 | +21.5% | $364,628 |
| Q2 2025 | +8.9% | $326,685 |
Frequently asked questions
- How much have home prices risen in the Watertown-Fort Drum, NY area?
- FHFA HPI® data for the Watertown-Fort Drum, NY metro area shows changes of +8.9% over one year, +39.1% over five years, and +67.5% over ten years to Q2 2026, and +236% since Q1 1995.
- Is the Watertown-Fort Drum, NY area beating the national average?
- Over the past year the metro's index moved +5.9 pts versus the U.S.; over five years the gap is −2.1 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.