3-digit ZIP regional index
Home appreciation in ZIP codes 465xxElkhart, IN area
FHFA HPI® data shows the regional home price index for ZIP codes beginning with 465 changed +6.4% over the year to Q2 2026, compared with +4.6% for Indiana and +3.0% for the United States.
The region covers ZIP codes 46501–46595. Most of its 2010 population lived in Elkhart County (42%), St. Joseph County (26%), Kosciusko County (15%). Communities in the region include Mishawaka, Goshen, Granger, Warsaw, Plymouth. This is a regional index, not a ZIP5, street, or individual-home estimate.
- 1-year change
- +6.4%
- 5-year change
- +49.4%
- Since Q1 1995
- +235%
- National rank (1 year)
- 104th
Year to Q2 2026
vs U.S. +41.3%
vs U.S. +292%
of 882 ZIP3 regions
ZIP3 465 vs Indiana and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- ZIP3 465: 334.9
- Indiana: 319.8
- Elkhart-Goshen, IN metro: 322.1
- United States: 391.6
Want a different starting year? Rebase this chart or compare with another ZIP3.
Appreciation by time window
| Window | ZIP3 465 | IN | U.S. | Gap vs IN | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +6.4% | +4.6% | +3.0% | +1.8 pts | +3.4 pts |
| 3 years | +18.4% | +16.2% | +12.9% | +2.1 pts | +5.5 pts |
| 5 years | +49.4% | +46.7% | +41.3% | +2.7 pts | +8.1 pts |
| 10 years | +106% | +104% | +93.3% | +1.9 pts | +12.2 pts |
| Since Q1 1995 | +235% | +220% | +292% | +15.1 pts | −56.7 pts |
If you bought in ZIP3 465 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 | +229% | $987,555 |
| Q2 2000 | +167% | $799,682 |
| Q2 2005 | +122% | $667,225 |
| Q2 2010 | +126% | $677,666 |
| Q2 2015 | +115% | $644,537 |
| Q2 2020 | +68.6% | $505,708 |
| Q2 2021 | +49.4% | $448,060 |
| Q2 2023 | +18.4% | $355,097 |
| Q2 2025 | +6.4% | $319,248 |
How ZIP3 465 ranks
Over the past year ZIP3 465 ranks 104th of 882 3-digit ZIP regions nationally and 5th of 20 in Indiana. Its one-year change is +3.4 pts versus the nation and +1.8 pts versus Indiana. Rank 1 is the strongest appreciation.
| Window | National rank | Rank in Indiana |
|---|---|---|
| 1 year | 104th of 882 | 5th of 20 |
| 3 years | 285th of 882 | 8th of 20 |
| 5 years | 289th of 882 | 10th of 20 |
| 10 years | 247th of 882 | 8th of 20 |
| Since Q1 1995 | 611th of 879 | 7th of 20 |
Boom, bust, and recovery in ZIP3 465
ZIP3 465's index peaked in Q1 2008, fell 9.9% to its low in Q2 2011, and regained its peak in Q2 2016, about 8.2 years after the top. Today it sits +109% 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 465 | Q1 2008 | Q2 2011 | -9.9% | Q2 2016 (8.2 yrs) | +109% |
| IN | Q1 2008 | Q2 2011 | -7.3% | Q3 2015 (7.5 yrs) | +110% |
| Metro | Q2 2007 | Q2 2011 | -13.4% | Q2 2016 (9 yrs) | +106% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, ZIP3 465's index has changed +51.3% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | ZIP3 465 after inflation | IN after inflation | Metro after inflation | U.S. after inflation |
|---|---|---|---|---|---|
| 1 year | +3.9% | +2.5% | +0.7% | +1.4% | -0.8% |
| 3 years | +9.8% | +7.8% | +5.8% | +6.2% | +2.8% |
| 5 years | +24.0% | +20.4% | +18.3% | +18.7% | +13.9% |
| 10 years | +39.1% | +47.8% | +46.4% | +47.6% | +39.0% |
| Since Q1 1995 | +121% | +51.3% | +44.5% | +45.5% | +76.8% |
Estimate appreciation for a home in ZIP3 465
Regional estimate
$616,608
- Estimated gain
- $316,608
- Index change
- +106%
- Start index
- 162.93
- End index
- 334.88
ZIP3 465 (Elkhart, IN 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 |
|---|---|---|---|---|
| 466 · South Bend, IN area | IN | +6.3% | +55.9% | +240% |
| 491 · Niles, MI area | MI | +7.3% | +51.6% | +273% |
| 467 · Huntington, IN area | IN | +6.8% | +53.8% | +246% |
| 490 · Kalamazoo, MI area | MI | +2.8% | +45.8% | +240% |
| 468 · Fort Wayne, IN area | IN | +3.5% | +55.1% | +228% |
| 469 · Kokomo, IN area | IN | +5.2% | +52.4% | +206% |
Recent quarterly index values
| Period | Index |
|---|---|
| Q2 2026 | 334.88 |
| Q1 2026 | 325.50 |
| Q4 2025 | 322.86 |
| Q3 2025 | 318.23 |
| Q2 2025 | 314.69 |
| Q1 2025 | 305.18 |
| Q4 2024 | 306.68 |
| Q3 2024 | 303.93 |
| Q2 2024 | 299.50 |
| Q1 2024 | 288.59 |
| Q4 2023 | 285.65 |
| Q3 2023 | 283.63 |
Frequently asked questions
- How much have home prices risen in ZIP codes starting with 465?
- Based on FHFA HPI® data for 3-digit ZIP region 465, the regional index changed +6.4% over the year to Q2 2026, +49.4% over five years, +106% over ten years, and +235% since Q1 1995.
- Is ZIP3 465 appreciating faster than Indiana and the U.S.?
- Over the past year the region's index +6.4% compares with +4.6% for Indiana and +3.0% for the U.S., a gap of +3.4 pts versus the nation. Over five years the gap versus the nation is +8.1 pts.
- Which ZIP codes are in 3-digit ZIP region 465?
- All ZIP codes that begin with 465. Census 2010 ZIP Code Tabulation Areas in this region run from 46501 to 46595 (46 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.