3-digit ZIP regional index
Home appreciation in ZIP codes 208xxRockville, MD area
FHFA HPI® data shows the regional home price index for ZIP codes beginning with 208 changed +1.8% over the year to Q2 2026, compared with +2.2% for Maryland and +3.0% for the United States.
The region covers ZIP codes 20812–20899. Most of its 2010 population lived in Montgomery County (100%). Communities in the region include Germantown, Bethesda, Gaithersburg, Potomac, North Bethesda. This is a regional index, not a ZIP5, street, or individual-home estimate.
- 1-year change
- +1.8%
- 5-year change
- +29.4%
- Since Q1 1995
- +263%
- National rank (1 year)
- 685th
Year to Q2 2026
vs U.S. +41.3%
vs U.S. +292%
of 882 ZIP3 regions
ZIP3 208 vs Maryland and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- ZIP3 208: 362.6
- Maryland: 348.0
- Frederick-Gaithersburg-Bethesda, MD metro: 361.0
- United States: 391.6
Want a different starting year? Rebase this chart or compare with another ZIP3.
Appreciation by time window
| Window | ZIP3 208 | MD | U.S. | Gap vs MD | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +1.8% | +2.2% | +3.0% | −0.5 pts | −1.2 pts |
| 3 years | +9.7% | +11.2% | +12.9% | −1.6 pts | −3.2 pts |
| 5 years | +29.4% | +32.0% | +41.3% | −2.6 pts | −11.8 pts |
| 10 years | +51.8% | +63.8% | +93.3% | −11.9 pts | −41.5 pts |
| Since Q1 1995 | +263% | +248% | +292% | +14.7 pts | −28.9 pts |
If you bought in ZIP3 208 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 | +259% | $1,076,663 |
| Q2 2000 | +207% | $920,433 |
| Q2 2005 | +53.0% | $458,935 |
| Q2 2010 | +66.7% | $500,005 |
| Q2 2015 | +54.8% | $464,481 |
| Q2 2020 | +41.3% | $423,968 |
| Q2 2021 | +29.4% | $388,341 |
| Q2 2023 | +9.7% | $329,046 |
| Q2 2025 | +1.8% | $305,381 |
How ZIP3 208 ranks
Over the past year ZIP3 208 ranks 685th of 882 3-digit ZIP regions nationally and 9th of 13 in Maryland. Its one-year change is −1.2 pts versus the nation and −0.5 pts versus Maryland. Rank 1 is the strongest appreciation.
| Window | National rank | Rank in Maryland |
|---|---|---|
| 1 year | 685th of 882 | 9th of 13 |
| 3 years | 726th of 882 | 11th of 13 |
| 5 years | 797th of 882 | 10th of 13 |
| 10 years | 847th of 882 | 13th of 13 |
| Since Q1 1995 | 435th of 879 | 6th of 13 |
Boom, bust, and recovery in ZIP3 208
ZIP3 208's index peaked in Q3 2006, fell 18.3% to its low in Q2 2011, and regained its peak in Q1 2021, about 14.5 years after the top. Today it sits +37.7% 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 208 | Q3 2006 | Q2 2011 | -18.3% | Q1 2021 (14.5 yrs) | +37.7% |
| MD | Q2 2007 | Q2 2012 | -25.3% | Q2 2021 (14 yrs) | +35.2% |
| Metro | Q4 2006 | Q2 2011 | -22.1% | Q1 2021 (14.2 yrs) | +37.3% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, ZIP3 208's index has changed +63.8% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | ZIP3 208 after inflation | MD after inflation | Metro after inflation | U.S. after inflation |
|---|---|---|---|---|---|
| 1 year | +3.9% | -2.0% | -1.6% | -2.5% | -0.8% |
| 3 years | +9.8% | -0.1% | +1.3% | -0.5% | +2.8% |
| 5 years | +24.0% | +4.4% | +6.5% | +4.3% | +13.9% |
| 10 years | +39.1% | +9.2% | +17.8% | +12.6% | +39.0% |
| Since Q1 1995 | +121% | +63.8% | +57.2% | +63.1% | +76.8% |
Estimate appreciation for a home in ZIP3 208
Regional estimate
$455,515
- Estimated gain
- $155,515
- Index change
- +51.84%
- Start index
- 238.82
- End index
- 362.62
ZIP3 208 (Rockville, MD 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 |
|---|---|---|---|---|
| 209 · Takoma Park, MD area | MD | -0.7% | +23.1% | +272% |
| 200 · Washington, DC area | DC | -0.6% | +4.2% | +464% |
| 222 · Arlington, VA area | VA | -2.5% | +16.8% | +386% |
| 220 · Fairfax, VA area | VA | +1.5% | +30.6% | +325% |
| 207 · Bowie, MD area | MD | -0.1% | +25.1% | +231% |
| 201 · Leesburg, VA area | VA | +1.6% | +36.1% | +297% |
Recent quarterly index values
| Period | Index |
|---|---|
| Q2 2026 | 362.62 |
| Q1 2026 | 361.49 |
| Q4 2025 | 354.12 |
| Q3 2025 | 354.93 |
| Q2 2025 | 356.23 |
| Q1 2025 | 345.72 |
| Q4 2024 | 349.87 |
| Q3 2024 | 348.14 |
| Q2 2024 | 351.52 |
| Q1 2024 | 345.32 |
| Q4 2023 | 331.63 |
| Q3 2023 | 329.32 |
Frequently asked questions
- How much have home prices risen in ZIP codes starting with 208?
- Based on FHFA HPI® data for 3-digit ZIP region 208, the regional index changed +1.8% over the year to Q2 2026, +29.4% over five years, +51.8% over ten years, and +263% since Q1 1995.
- Is ZIP3 208 appreciating faster than Maryland and the U.S.?
- Over the past year the region's index +1.8% compares with +2.2% for Maryland and +3.0% for the U.S., a gap of −1.2 pts versus the nation. Over five years the gap versus the nation is −11.8 pts.
- Which ZIP codes are in 3-digit ZIP region 208?
- All ZIP codes that begin with 208. Census 2010 ZIP Code Tabulation Areas in this region run from 20812 to 20899 (37 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.