3-digit ZIP regional index
Home appreciation in ZIP codes 238xxPetersburg, VA area
FHFA HPI® data shows the regional home price index for ZIP codes beginning with 238 changed +3.3% over the year to Q2 2026, compared with +3.8% for Virginia and +3.0% for the United States.
The region covers ZIP codes 23801–23899. Most of its 2010 population lived in Chesterfield County (34%), Prince George County (11%), Petersburg city (10%). Communities in the region include Hopewell, Chester, Colonial Heights, Franklin, Ettrick. This is a regional index, not a ZIP5, street, or individual-home estimate.
- 1-year change
- +3.3%
- 5-year change
- +49.7%
- Since Q1 1995
- +251%
- National rank (1 year)
- 498th
Year to Q2 2026
vs U.S. +41.3%
vs U.S. +292%
of 882 ZIP3 regions
ZIP3 238 vs Virginia and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- ZIP3 238: 351.0
- Virginia: 403.8
- Richmond, VA metro: 399.3
- United States: 391.6
Want a different starting year? Rebase this chart or compare with another ZIP3.
Appreciation by time window
| Window | ZIP3 238 | VA | U.S. | Gap vs VA | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +3.3% | +3.8% | +3.0% | −0.5 pts | +0.3 pts |
| 3 years | +16.9% | +15.9% | +12.9% | +0.9 pts | +4.0 pts |
| 5 years | +49.7% | +44.1% | +41.3% | +5.6 pts | +8.4 pts |
| 10 years | +99.3% | +83.4% | +93.3% | +15.9 pts | +6.0 pts |
| Since Q1 1995 | +251% | +304% | +292% | −52.7 pts | −40.5 pts |
If you bought in ZIP3 238 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 | +246% | $1,038,785 |
| Q2 2000 | +201% | $902,494 |
| Q2 2005 | +113% | $638,487 |
| Q2 2010 | +92.0% | $575,979 |
| Q2 2015 | +104% | $612,742 |
| Q2 2020 | +67.5% | $502,611 |
| Q2 2021 | +49.7% | $449,015 |
| Q2 2023 | +16.9% | $350,678 |
| Q2 2025 | +3.3% | $309,914 |
How ZIP3 238 ranks
Over the past year ZIP3 238 ranks 498th of 882 3-digit ZIP regions nationally and 17th of 28 in Virginia. Its one-year change is +0.3 pts versus the nation and −0.5 pts versus Virginia. Rank 1 is the strongest appreciation.
| Window | National rank | Rank in Virginia |
|---|---|---|
| 1 year | 498th of 882 | 17th of 28 |
| 3 years | 358th of 882 | 14th of 28 |
| 5 years | 281st of 882 | 9th of 28 |
| 10 years | 332nd of 882 | 3rd of 28 |
| Since Q1 1995 | 491st of 879 | 21st of 28 |
Boom, bust, and recovery in ZIP3 238
ZIP3 238's index peaked in Q4 2007, fell 21.2% to its low in Q4 2013, and regained its peak in Q1 2020, about 12.2 years after the top. Today it sits +68.8% 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 238 | Q4 2007 | Q4 2013 | -21.2% | Q1 2020 (12.2 yrs) | +68.8% |
| VA | Q2 2007 | Q2 2012 | -17.4% | Q2 2019 (12 yrs) | +66.9% |
| Metro | Q2 2007 | Q2 2012 | -19.5% | Q2 2018 (11 yrs) | +82.0% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, ZIP3 238's index has changed +58.5% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | ZIP3 238 after inflation | VA after inflation | Metro after inflation | U.S. after inflation |
|---|---|---|---|---|---|
| 1 year | +3.9% | -0.5% | -0.1% | -0.5% | -0.8% |
| 3 years | +9.8% | +6.5% | +5.6% | +5.4% | +2.8% |
| 5 years | +24.0% | +20.7% | +16.2% | +19.1% | +13.9% |
| 10 years | +39.1% | +43.3% | +31.9% | +44.3% | +39.0% |
| Since Q1 1995 | +121% | +58.5% | +82.4% | +80.3% | +76.8% |
Estimate appreciation for a home in ZIP3 238
Regional estimate
$597,956
- Estimated gain
- $297,956
- Index change
- +99.32%
- Start index
- 176.12
- End index
- 351.04
ZIP3 238 (Petersburg, VA 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 |
|---|---|---|---|---|
| 231 · Williamsburg, VA area | VA | +3.1% | +47.2% | +255% |
| 232 · Richmond, VA area | VA | +3.2% | +47.1% | +347% |
| 230 · Ashland, VA area | VA | +4.3% | +49.1% | +277% |
| 239 · Farmville, VA area | VA | +6.0% | +53.3% | +245% |
| 236 · Newport News, VA area | VA | +2.2% | +41.0% | +245% |
| 237 · Portsmouth, VA area | VA | +3.6% | +43.4% | +289% |
Recent quarterly index values
| Period | Index |
|---|---|
| Q2 2026 | 351.04 |
| Q1 2026 | 345.62 |
| Q4 2025 | 346.52 |
| Q3 2025 | 341.80 |
| Q2 2025 | 339.81 |
| Q1 2025 | 323.96 |
| Q4 2024 | 324.04 |
| Q3 2024 | 326.18 |
| Q2 2024 | 320.69 |
| Q1 2024 | 315.38 |
| Q4 2023 | 305.56 |
| Q3 2023 | 305.60 |
Frequently asked questions
- How much have home prices risen in ZIP codes starting with 238?
- Based on FHFA HPI® data for 3-digit ZIP region 238, the regional index changed +3.3% over the year to Q2 2026, +49.7% over five years, +99.3% over ten years, and +251% since Q1 1995.
- Is ZIP3 238 appreciating faster than Virginia and the U.S.?
- Over the past year the region's index +3.3% compares with +3.8% for Virginia and +3.0% for the U.S., a gap of +0.3 pts versus the nation. Over five years the gap versus the nation is +8.4 pts.
- Which ZIP codes are in 3-digit ZIP region 238?
- All ZIP codes that begin with 238. Census 2010 ZIP Code Tabulation Areas in this region run from 23801 to 23899 (55 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.