3-digit ZIP regional index
Home appreciation in ZIP codes 165xxErie, PA area
FHFA HPI® data shows the regional home price index for ZIP codes beginning with 165 changed +6.7% over the year to Q2 2026, compared with +4.7% for Pennsylvania and +3.0% for the United States.
The region covers ZIP codes 16501–16563. Most of its 2010 population lived in Erie County (100%). Communities in the region include Northwest Harborcreek, Lawrence Park, Wesleyville, Penn State Erie (Behrend). This is a regional index, not a ZIP5, street, or individual-home estimate.
- 1-year change
- +6.7%
- 5-year change
- +62.6%
- Since Q1 1995
- +203%
- National rank (1 year)
- 95th
Year to Q2 2026
vs U.S. +41.3%
vs U.S. +292%
of 882 ZIP3 regions
ZIP3 165 vs Pennsylvania and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- ZIP3 165: 303.0
- Pennsylvania: 355.6
- Erie, PA metro: 305.6
- United States: 391.6
Want a different starting year? Rebase this chart or compare with another ZIP3.
Appreciation by time window
| Window | ZIP3 165 | PA | U.S. | Gap vs PA | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +6.7% | +4.7% | +3.0% | +2.0 pts | +3.6 pts |
| 3 years | +25.9% | +18.1% | +12.9% | +7.9 pts | +13.1 pts |
| 5 years | +62.6% | +44.2% | +41.3% | +18.4 pts | +21.3 pts |
| 10 years | +96.1% | +86.9% | +93.3% | +9.2 pts | +2.8 pts |
| Since Q1 1995 | +203% | +256% | +292% | −52.6 pts | −88.6 pts |
If you bought in ZIP3 165 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 | +204% | $913,079 |
| Q2 2000 | +169% | $806,182 |
| Q2 2005 | +123% | $667,575 |
| Q2 2010 | +109% | $626,962 |
| Q2 2015 | +102% | $607,397 |
| Q2 2020 | +77.3% | $531,966 |
| Q2 2021 | +62.6% | $487,828 |
| Q2 2023 | +25.9% | $377,777 |
| Q2 2025 | +6.7% | $320,015 |
How ZIP3 165 ranks
Over the past year ZIP3 165 ranks 95th of 882 3-digit ZIP regions nationally and 9th of 46 in Pennsylvania. Its one-year change is +3.6 pts versus the nation and +2.0 pts versus Pennsylvania. Rank 1 is the strongest appreciation.
| Window | National rank | Rank in Pennsylvania |
|---|---|---|
| 1 year | 95th of 882 | 9th of 46 |
| 3 years | 26th of 882 | 3rd of 46 |
| 5 years | 25th of 882 | 1st of 46 |
| 10 years | 371st of 882 | 11th of 46 |
| Since Q1 1995 | 772nd of 879 | 44th of 46 |
Boom, bust, and recovery in ZIP3 165
ZIP3 165's index peaked in Q2 2009, fell 2.3% to its low in Q2 2010, and regained its peak in Q3 2010, about 1.2 years after the top. Today it sits +104% 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 165 | Q2 2009 | Q2 2010 | -2.3% | Q3 2010 (1.2 yrs) | +104% |
| PA | Q1 2008 | Q2 2012 | -9.4% | Q2 2017 (9.2 yrs) | +83.0% |
| Metro | Q2 2009 | Q3 2011 | -1.8% | Q4 2011 (2.5 yrs) | +105% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, ZIP3 165's index has changed +36.9% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | ZIP3 165 after inflation | PA after inflation | Metro after inflation | U.S. after inflation |
|---|---|---|---|---|---|
| 1 year | +3.9% | +2.7% | +0.8% | +4.0% | -0.8% |
| 3 years | +9.8% | +14.7% | +7.5% | +15.1% | +2.8% |
| 5 years | +24.0% | +31.1% | +16.3% | +27.9% | +13.9% |
| 10 years | +39.1% | +41.0% | +34.4% | +37.5% | +39.0% |
| Since Q1 1995 | +121% | +36.9% | +60.6% | +38.0% | +76.8% |
Estimate appreciation for a home in ZIP3 165
Regional estimate
$588,368
- Estimated gain
- $288,368
- Index change
- +96.12%
- Start index
- 154.49
- End index
- 302.99
ZIP3 165 (Erie, PA 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 |
|---|---|---|---|---|
| 164 · Corry, PA area | PA | +8.0% | +58.6% | +206% |
| 163 · Meadville, PA area | PA | +5.7% | +50.5% | +248% |
| 147 · Jamestown, NY area | NY | +6.7% | +52.3% | +253% |
| 161 · New Castle, PA area | PA | +5.6% | +47.3% | +258% |
| 444 · Warren, OH area | OH | +5.4% | +51.3% | +194% |
| 445 · Youngstown, OH area | OH | +4.4% | +58.8% | +181% |
Recent quarterly index values
| Period | Index |
|---|---|
| Q2 2026 | 302.99 |
| Q1 2026 | 288.78 |
| Q4 2025 | 289.33 |
| Q3 2025 | 288.29 |
| Q2 2025 | 284.04 |
| Q1 2025 | 266.82 |
| Q4 2024 | 263.70 |
| Q3 2024 | 271.60 |
| Q2 2024 | 259.99 |
| Q1 2024 | 245.16 |
| Q4 2023 | 248.62 |
| Q3 2023 | 250.80 |
Frequently asked questions
- How much have home prices risen in ZIP codes starting with 165?
- Based on FHFA HPI® data for 3-digit ZIP region 165, the regional index changed +6.7% over the year to Q2 2026, +62.6% over five years, +96.1% over ten years, and +203% since Q1 1995.
- Is ZIP3 165 appreciating faster than Pennsylvania and the U.S.?
- Over the past year the region's index +6.7% compares with +4.7% for Pennsylvania and +3.0% for the U.S., a gap of +3.6 pts versus the nation. Over five years the gap versus the nation is +21.3 pts.
- Which ZIP codes are in 3-digit ZIP region 165?
- All ZIP codes that begin with 165. Census 2010 ZIP Code Tabulation Areas in this region run from 16501 to 16563 (13 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.