3-digit ZIP regional index
Home appreciation in ZIP codes 122xxAlbany, NY area
FHFA HPI® data shows the regional home price index for ZIP codes beginning with 122 changed +7.0% over the year to Q2 2026, compared with +5.3% for New York and +3.0% for the United States.
The region covers ZIP codes 12202–12222. Most of its 2010 population lived in Albany County (100%). Communities in the region include Colonie, Westmere, Menands. This is a regional index, not a ZIP5, street, or individual-home estimate.
- 1-year change
- +7.0%
- 5-year change
- +47.9%
- Since Q1 1995
- +221%
- National rank (1 year)
- 75th
Year to Q2 2026
vs U.S. +41.3%
vs U.S. +292%
of 882 ZIP3 regions
ZIP3 122 vs New York and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- ZIP3 122: 320.7
- New York: 433.4
- Albany-Schenectady-Troy, NY metro: 353.2
- United States: 391.6
Want a different starting year? Rebase this chart or compare with another ZIP3.
Appreciation by time window
| Window | ZIP3 122 | NY | U.S. | Gap vs NY | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +7.0% | +5.3% | +3.0% | +1.7 pts | +3.9 pts |
| 3 years | +18.7% | +22.4% | +12.9% | −3.7 pts | +5.8 pts |
| 5 years | +47.9% | +49.9% | +41.3% | −2.0 pts | +6.6 pts |
| 10 years | +76.3% | +96.6% | +93.3% | −20.2 pts | −17.0 pts |
| Since Q1 1995 | +221% | +333% | +292% | −112.7 pts | −70.9 pts |
If you bought in ZIP3 122 in…
Applying the regional index change from the same quarter of each year to Q2 2026 to an example $300,000 purchase price. Individual homes can differ widely from the regional average.
| Bought in | Index change | $300,000 then, at the regional rate |
|---|---|---|
| Q2 1995 | +224% | $971,395 |
| Q2 2000 | +221% | $964,481 |
| Q2 2005 | +103% | $607,982 |
| Q2 2010 | +79.2% | $537,499 |
| Q2 2015 | +80.9% | $542,715 |
| Q2 2020 | +59.9% | $479,835 |
| Q2 2021 | +47.9% | $443,677 |
| Q2 2023 | +18.7% | $355,966 |
| Q2 2025 | +7.0% | $320,904 |
How ZIP3 122 ranks
Over the past year ZIP3 122 ranks 75th of 882 3-digit ZIP regions nationally and 10th of 49 in New York. Its one-year change is +3.9 pts versus the nation and +1.7 pts versus New York. Rank 1 is the strongest appreciation.
| Window | National rank | Rank in New York |
|---|---|---|
| 1 year | 75th of 882 | 10th of 49 |
| 3 years | 252nd of 882 | 41st of 49 |
| 5 years | 324th of 882 | 30th of 49 |
| 10 years | 651st of 882 | 42nd of 49 |
| Since Q1 1995 | 681st of 879 | 44th of 49 |
Boom, bust, and recovery in ZIP3 122
ZIP3 122's index peaked in Q1 2009, fell 7.8% to its low in Q1 2014, and regained its peak in Q3 2017, about 8.5 years after the top. Today it sits +72.8% 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 |
|---|---|---|---|---|---|
| ZIP3 122 | Q1 2009 | Q1 2014 | -7.8% | Q3 2017 (8.5 yrs) | +72.8% |
| NY | Q1 2007 | Q2 2012 | -14.0% | Q3 2017 (10.5 yrs) | +85.2% |
| Metro | Q1 2008 | Q1 2014 | -7.0% | Q3 2017 (9.5 yrs) | +80.7% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, ZIP3 122's index has changed +44.8% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | ZIP3 122 after inflation | NY after inflation | Metro after inflation | U.S. after inflation |
|---|---|---|---|---|---|
| 1 year | +3.9% | +3.0% | +1.4% | +3.0% | -0.8% |
| 3 years | +9.8% | +8.1% | +11.5% | +11.5% | +2.8% |
| 5 years | +24.0% | +19.2% | +20.8% | +21.8% | +13.9% |
| 10 years | +39.1% | +26.8% | +41.4% | +33.0% | +39.0% |
| Since Q1 1995 | +121% | +44.8% | +95.8% | +59.5% | +76.8% |
Estimate appreciation for a home in ZIP3 122
Regional estimate
$529,046
- Estimated gain
- $229,046
- Index change
- +76.35%
- Start index
- 181.85
- End index
- 320.69
ZIP3 122 (Albany, NY area), Q2 2016 to Q2 2026. Index type: Native 3-Digit ZIP index.
Nearby 3-digit ZIP regions
| 3-digit ZIP region | State | 1 year | 5 years | Since Q1 1995 |
|---|---|---|---|---|
| 121 · Troy, NY area | NY | +3.9% | +48.0% | +244% |
| 123 · Schenectady, NY area | NY | +8.0% | +54.7% | +241% |
| 120 · Amsterdam, NY area | NY | +6.3% | +51.3% | +265% |
| 012 · Pittsfield, MA area | MA | +6.3% | +55.4% | +309% |
| 052 · Bennington, VT area | VT | +6.1% | +62.9% | +305% |
| 128 · Saratoga Springs, NY area | NY | +6.0% | +50.0% | +304% |
Recent quarterly index values
| Period | Index |
|---|---|
| Q2 2026 | 320.69 |
| Q1 2026 | 314.25 |
| Q4 2025 | 309.73 |
| Q3 2025 | 313.89 |
| Q2 2025 | 299.80 |
| Q1 2025 | 304.40 |
| Q4 2024 | 304.38 |
| Q3 2024 | 296.16 |
| Q2 2024 | 288.79 |
| Q1 2024 | 280.74 |
| Q4 2023 | 279.84 |
| Q3 2023 | 275.95 |
Frequently asked questions
- How much have home prices risen in ZIP codes starting with 122?
- Based on FHFA HPI® data for 3-digit ZIP region 122, the regional index changed +7.0% over the year to Q2 2026, +47.9% over five years, +76.3% over ten years, and +221% since Q1 1995.
- Is ZIP3 122 appreciating faster than New York and the U.S.?
- Over the past year the region's index +7.0% compares with +5.3% for New York and +3.0% for the U.S., a gap of +3.9 pts versus the nation. Over five years the gap versus the nation is +6.6 pts.
- Which ZIP codes are in 3-digit ZIP region 122?
- All ZIP codes that begin with 122. Census 2010 ZIP Code Tabulation Areas in this region run from 12202 to 12222 (11 areas). FHFA publishes one index for the whole 3-digit region, not for each 5-digit ZIP code.
- Can I use this to value my home?
- No. The FHFA HPI® is a broad regional index of average price movement. It is not an appraisal, tax assessment, or automated valuation of any individual property. Use it as general context alongside local sales and a professional opinion.