3-digit ZIP regional index
Home appreciation in ZIP codes 487xxBay City, MI area
FHFA HPI® data shows the regional home price index for ZIP codes beginning with 487 changed +3.9% over the year to Q2 2026, compared with +4.6% for Michigan and +3.0% for the United States.
The region covers ZIP codes 48701–48770. Most of its 2010 population lived in Bay County (38%), Tuscola County (25%), Iosco County (12%). Communities in the region include Frankenmuth, Caro, Essexville, East Tawas, Skidway Lake. This is a regional index, not a ZIP5, street, or individual-home estimate.
- 1-year change
- +3.9%
- 5-year change
- +55.2%
- Since Q1 1995
- +212%
- National rank (1 year)
- 404th
Year to Q2 2026
vs U.S. +41.3%
vs U.S. +292%
of 882 ZIP3 regions
ZIP3 487 vs Michigan and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- ZIP3 487: 312.4
- Michigan: 328.0
- Bay City, MI metro: 290.0
- United States: 391.6
Want a different starting year? Rebase this chart or compare with another ZIP3.
Appreciation by time window
| Window | ZIP3 487 | MI | U.S. | Gap vs MI | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +3.9% | +4.6% | +3.0% | −0.7 pts | +0.9 pts |
| 3 years | +22.0% | +18.0% | +12.9% | +4.0 pts | +9.1 pts |
| 5 years | +55.2% | +45.6% | +41.3% | +9.6 pts | +13.9 pts |
| 10 years | +115% | +104% | +93.3% | +11.6 pts | +21.8 pts |
| Since Q1 1995 | +212% | +228% | +292% | −15.7 pts | −79.2 pts |
If you bought in ZIP3 487 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 | +209% | $928,078 |
| Q2 2000 | +124% | $670,588 |
| Q2 2005 | +78.8% | $536,486 |
| Q2 2010 | +125% | $676,250 |
| Q2 2015 | +120% | $661,079 |
| Q2 2020 | +76.2% | $528,617 |
| Q2 2021 | +55.2% | $465,514 |
| Q2 2023 | +22.0% | $365,918 |
| Q2 2025 | +3.9% | $311,664 |
How ZIP3 487 ranks
Over the past year ZIP3 487 ranks 404th of 882 3-digit ZIP regions nationally and 15th of 20 in Michigan. Its one-year change is +0.9 pts versus the nation and −0.7 pts versus Michigan. Rank 1 is the strongest appreciation.
| Window | National rank | Rank in Michigan |
|---|---|---|
| 1 year | 404th of 882 | 15th of 20 |
| 3 years | 137th of 882 | 4th of 20 |
| 5 years | 118th of 882 | 5th of 20 |
| 10 years | 136th of 882 | 8th of 20 |
| Since Q1 1995 | 717th of 879 | 13th of 20 |
Boom, bust, and recovery in ZIP3 487
ZIP3 487's index peaked in Q4 2006, fell 25.4% to its low in Q1 2014, and regained its peak in Q2 2020, about 13.5 years after the top. Today it sits +76.8% 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 487 | Q4 2006 | Q1 2014 | -25.4% | Q2 2020 (13.5 yrs) | +76.8% |
| MI | Q3 2005 | Q2 2011 | -29.4% | Q2 2018 (12.8 yrs) | +83.3% |
| Metro | Q1 2006 | Q1 2014 | -23.6% | Q4 2020 (14.8 yrs) | +65.5% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, ZIP3 487's index has changed +41.1% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | ZIP3 487 after inflation | MI after inflation | Metro after inflation | U.S. after inflation |
|---|---|---|---|---|---|
| 1 year | +3.9% | +0.0% | +0.7% | +1.2% | -0.8% |
| 3 years | +9.8% | +11.1% | +7.4% | +8.8% | +2.8% |
| 5 years | +24.0% | +25.1% | +17.4% | +21.7% | +13.9% |
| 10 years | +39.1% | +54.6% | +46.3% | +48.8% | +39.0% |
| Since Q1 1995 | +121% | +41.1% | +48.1% | +31.0% | +76.8% |
Estimate appreciation for a home in ZIP3 487
Regional estimate
$645,239
- Estimated gain
- $345,239
- Index change
- +115%
- Start index
- 145.23
- End index
- 312.36
ZIP3 487 (Bay City, MI 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 |
|---|---|---|---|---|
| 486 · Saginaw, MI area | MI | +5.6% | +55.0% | +198% |
| 484 · Fenton, MI area | MI | +4.2% | +42.0% | +199% |
| 485 · Flint, MI area | MI | +3.1% | +40.9% | +143% |
| 488 · East Lansing, MI area | MI | +4.9% | +44.0% | +213% |
| 483 · Sterling Heights, MI area | MI | +4.6% | +40.0% | +190% |
| 489 · Lansing, MI area | MI | -2.3% | +33.6% | +165% |
Recent quarterly index values
| Period | Index |
|---|---|
| Q2 2026 | 312.36 |
| Q1 2026 | 309.95 |
| Q4 2025 | 306.24 |
| Q3 2025 | 299.76 |
| Q2 2025 | 300.67 |
| Q1 2025 | 288.75 |
| Q4 2024 | 283.21 |
| Q3 2024 | 287.28 |
| Q2 2024 | 279.42 |
| Q1 2024 | 264.45 |
| Q4 2023 | 259.90 |
| Q3 2023 | 259.63 |
Frequently asked questions
- How much have home prices risen in ZIP codes starting with 487?
- Based on FHFA HPI® data for 3-digit ZIP region 487, the regional index changed +3.9% over the year to Q2 2026, +55.2% over five years, +115% over ten years, and +212% since Q1 1995.
- Is ZIP3 487 appreciating faster than Michigan and the U.S.?
- Over the past year the region's index +3.9% compares with +4.6% for Michigan and +3.0% for the U.S., a gap of +0.9 pts versus the nation. Over five years the gap versus the nation is +13.9 pts.
- Which ZIP codes are in 3-digit ZIP region 487?
- All ZIP codes that begin with 487. Census 2010 ZIP Code Tabulation Areas in this region run from 48701 to 48770 (50 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.