3-digit ZIP regional index
Home appreciation in ZIP codes 128xxSaratoga Springs, NY area
FHFA HPI® data shows the regional home price index for ZIP codes beginning with 128 changed +6.0% 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 12801–12887. Most of its 2010 population lived in Saratoga County (40%), Warren County (29%), Washington County (27%). Communities in the region include Glens Falls, Glens Falls North, Hudson Falls, West Glens Falls, South Glens Falls. This is a regional index, not a ZIP5, street, or individual-home estimate.
- 1-year change
- +6.0%
- 5-year change
- +50.0%
- Since Q1 1995
- +304%
- National rank (1 year)
- 149th
Year to Q2 2026
vs U.S. +41.3%
vs U.S. +292%
of 882 ZIP3 regions
ZIP3 128 vs New York and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- ZIP3 128: 403.6
- New York: 433.4
- Glens Falls, NY metro: 371.9
- United States: 391.6
Want a different starting year? Rebase this chart or compare with another ZIP3.
Appreciation by time window
| Window | ZIP3 128 | NY | U.S. | Gap vs NY | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +6.0% | +5.3% | +3.0% | +0.7 pts | +3.0 pts |
| 3 years | +24.4% | +22.4% | +12.9% | +2.1 pts | +11.6 pts |
| 5 years | +50.0% | +49.9% | +41.3% | +0.1 pts | +8.7 pts |
| 10 years | +88.8% | +96.6% | +93.3% | −7.8 pts | −4.5 pts |
| Since Q1 1995 | +304% | +333% | +292% | −29.8 pts | +12.1 pts |
If you bought in ZIP3 128 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 | +299% | $1,196,886 |
| Q2 2000 | +269% | $1,106,644 |
| Q2 2005 | +116% | $647,500 |
| Q2 2010 | +94.3% | $582,887 |
| Q2 2015 | +90.0% | $569,857 |
| Q2 2020 | +65.5% | $496,368 |
| Q2 2021 | +50.0% | $450,095 |
| Q2 2023 | +24.4% | $373,340 |
| Q2 2025 | +6.0% | $317,936 |
How ZIP3 128 ranks
Over the past year ZIP3 128 ranks 149th of 882 3-digit ZIP regions nationally and 19th of 49 in New York. Its one-year change is +3.0 pts versus the nation and +0.7 pts versus New York. Rank 1 is the strongest appreciation.
| Window | National rank | Rank in New York |
|---|---|---|
| 1 year | 149th of 882 | 19th of 49 |
| 3 years | 51st of 882 | 10th of 49 |
| 5 years | 268th of 882 | 26th of 49 |
| 10 years | 486th of 882 | 24th of 49 |
| Since Q1 1995 | 296th of 879 | 20th of 49 |
Boom, bust, and recovery in ZIP3 128
ZIP3 128's index peaked in Q1 2008, fell 7.4% to its low in Q2 2011, and regained its peak in Q2 2017, about 9.2 years after the top. Today it sits +84.3% 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 |
|---|---|---|---|---|---|
| ZIP3 128 | Q1 2008 | Q2 2011 | -7.4% | Q2 2017 (9.2 yrs) | +84.3% |
| NY | Q1 2007 | Q2 2012 | -14.0% | Q3 2017 (10.5 yrs) | +85.2% |
| Metro | Q1 2008 | Q3 2014 | -11.5% | Q1 2020 (12 yrs) | +75.7% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, ZIP3 128's index has changed +82.3% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | ZIP3 128 after inflation | NY after inflation | Metro after inflation | U.S. after inflation |
|---|---|---|---|---|---|
| 1 year | +3.9% | +2.0% | +1.4% | +4.0% | -0.8% |
| 3 years | +9.8% | +13.3% | +11.5% | +13.6% | +2.8% |
| 5 years | +24.0% | +21.0% | +20.8% | +22.1% | +13.9% |
| 10 years | +39.1% | +35.8% | +41.4% | +36.9% | +39.0% |
| Since Q1 1995 | +121% | +82.3% | +95.8% | +68.0% | +76.8% |
Estimate appreciation for a home in ZIP3 128
Regional estimate
$566,419
- Estimated gain
- $266,419
- Index change
- +88.81%
- Start index
- 213.78
- End index
- 403.63
ZIP3 128 (Saratoga Springs, 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 |
|---|---|---|---|---|
| 052 · Bennington, VT area | VT | +6.1% | +62.9% | +305% |
| 120 · Amsterdam, NY area | NY | +6.3% | +51.3% | +265% |
| 123 · Schenectady, NY area | NY | +8.0% | +54.7% | +241% |
| 121 · Troy, NY area | NY | +3.9% | +48.0% | +244% |
| 057 · Rutland, VT area | VT | +6.1% | +62.9% | +305% |
| 122 · Albany, NY area | NY | +7.0% | +47.9% | +221% |
Recent quarterly index values
| Period | Index |
|---|---|
| Q2 2026 | 403.63 |
| Q1 2026 | 397.33 |
| Q4 2025 | 391.95 |
| Q3 2025 | 384.52 |
| Q2 2025 | 380.86 |
| Q1 2025 | 372.88 |
| Q4 2024 | 357.57 |
| Q3 2024 | 364.48 |
| Q2 2024 | 355.57 |
| Q1 2024 | 336.27 |
| Q4 2023 | 350.85 |
| Q3 2023 | 348.13 |
Frequently asked questions
- How much have home prices risen in ZIP codes starting with 128?
- Based on FHFA HPI® data for 3-digit ZIP region 128, the regional index changed +6.0% over the year to Q2 2026, +50.0% over five years, +88.8% over ten years, and +304% since Q1 1995.
- Is ZIP3 128 appreciating faster than New York and the U.S.?
- Over the past year the region's index +6.0% compares with +5.3% for New York and +3.0% for the U.S., a gap of +3.0 pts versus the nation. Over five years the gap versus the nation is +8.7 pts.
- Which ZIP codes are in 3-digit ZIP region 128?
- All ZIP codes that begin with 128. Census 2010 ZIP Code Tabulation Areas in this region run from 12801 to 12887 (63 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.