3-digit ZIP regional index
Home appreciation in ZIP codes 489xxLansing, MI area
FHFA HPI® data shows the regional home price index for ZIP codes beginning with 489 changed -2.3% over the year to Q2 2026, compared with +4.6% for Michigan and +3.0% for the United States.
The region covers ZIP codes 48906–48933. Most of its 2010 population lived in Ingham County (75%), Eaton County (20%). Communities in the region include Waverly, Holt, Edgemont Park, Wacousta, East Lansing. This is a regional index, not a ZIP5, street, or individual-home estimate.
- 1-year change
- -2.3%
- 5-year change
- +33.6%
- Since Q1 1995
- +165%
- National rank (1 year)
- 873rd
Year to Q2 2026
vs U.S. +41.3%
vs U.S. +292%
of 882 ZIP3 regions
ZIP3 489 vs Michigan and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- ZIP3 489: 264.7
- Michigan: 328.0
- Lansing-East Lansing, MI metro: 294.0
- United States: 391.6
Want a different starting year? Rebase this chart or compare with another ZIP3.
Appreciation by time window
| Window | ZIP3 489 | MI | U.S. | Gap vs MI | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | -2.3% | +4.6% | +3.0% | −6.9 pts | −5.3 pts |
| 3 years | +11.0% | +18.0% | +12.9% | −6.9 pts | −1.8 pts |
| 5 years | +33.6% | +45.6% | +41.3% | −12.0 pts | −7.7 pts |
| 10 years | +93.3% | +104% | +93.3% | −10.2 pts | −0.0 pts |
| Since Q1 1995 | +165% | +228% | +292% | −63.3 pts | −126.8 pts |
If you bought in ZIP3 489 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 | +160% | $780,425 |
| Q2 2000 | +96.6% | $589,664 |
| Q2 2005 | +49.5% | $448,526 |
| Q2 2010 | +105% | $614,913 |
| Q2 2015 | +101% | $603,603 |
| Q2 2020 | +50.4% | $451,125 |
| Q2 2021 | +33.6% | $400,706 |
| Q2 2023 | +11.0% | $333,107 |
| Q2 2025 | -2.3% | $293,135 |
How ZIP3 489 ranks
Over the past year ZIP3 489 ranks 873rd of 882 3-digit ZIP regions nationally and 20th of 20 in Michigan. Its one-year change is −5.3 pts versus the nation and −6.9 pts versus Michigan. Rank 1 is the strongest appreciation.
| Window | National rank | Rank in Michigan |
|---|---|---|
| 1 year | 873rd of 882 | 20th of 20 |
| 3 years | 675th of 882 | 20th of 20 |
| 5 years | 746th of 882 | 20th of 20 |
| 10 years | 403rd of 882 | 19th of 20 |
| Since Q1 1995 | 854th of 879 | 19th of 20 |
Boom, bust, and recovery in ZIP3 489
ZIP3 489's index peaked in Q3 2005, fell 35.3% to its low in Q2 2013, and regained its peak in Q4 2020, about 15.2 years after the top. Today it sits +46.3% 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 489 | Q3 2005 | Q2 2013 | -35.3% | Q4 2020 (15.2 yrs) | +46.3% |
| MI | Q3 2005 | Q2 2011 | -29.4% | Q2 2018 (12.8 yrs) | +83.3% |
| Metro | Q4 2005 | Q2 2012 | -29.4% | Q3 2019 (13.8 yrs) | +66.5% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, ZIP3 489's index has changed +19.6% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | ZIP3 489 after inflation | MI after inflation | Metro after inflation | U.S. after inflation |
|---|---|---|---|---|---|
| 1 year | +3.9% | -5.9% | +0.7% | +1.2% | -0.8% |
| 3 years | +9.8% | +1.1% | +7.4% | +8.4% | +2.8% |
| 5 years | +24.0% | +7.7% | +17.4% | +15.3% | +13.9% |
| 10 years | +39.1% | +39.0% | +46.3% | +43.4% | +39.0% |
| Since Q1 1995 | +121% | +19.6% | +48.1% | +32.8% | +76.8% |
Estimate appreciation for a home in ZIP3 489
Regional estimate
$579,890
- Estimated gain
- $279,890
- Index change
- +93.30%
- Start index
- 136.95
- End index
- 264.72
ZIP3 489 (Lansing, 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 |
|---|---|---|---|---|
| 488 · East Lansing, MI area | MI | +4.9% | +44.0% | +213% |
| 492 · Jackson, MI area | MI | +7.3% | +47.4% | +224% |
| 485 · Flint, MI area | MI | +3.1% | +40.9% | +143% |
| 495 · Grand Rapids, MI area | MI | +3.6% | +48.4% | +314% |
| 493 · Big Rapids, MI area | MI | +5.3% | +51.1% | +275% |
| 484 · Fenton, MI area | MI | +4.2% | +42.0% | +199% |
Recent quarterly index values
| Period | Index |
|---|---|
| Q2 2026 | 264.72 |
| Q1 2026 | 277.39 |
| Q4 2025 | 278.65 |
| Q3 2025 | 277.39 |
| Q2 2025 | 270.92 |
| Q1 2025 | 268.67 |
| Q4 2024 | 266.36 |
| Q3 2024 | 266.29 |
| Q2 2024 | 263.14 |
| Q1 2024 | 242.59 |
| Q4 2023 | 250.74 |
| Q3 2023 | 243.83 |
Frequently asked questions
- How much have home prices risen in ZIP codes starting with 489?
- Based on FHFA HPI® data for 3-digit ZIP region 489, the regional index changed -2.3% over the year to Q2 2026, +33.6% over five years, +93.3% over ten years, and +165% since Q1 1995.
- Is ZIP3 489 appreciating faster than Michigan and the U.S.?
- Over the past year the region's index -2.3% compares with +4.6% for Michigan and +3.0% for the U.S., a gap of −5.3 pts versus the nation. Over five years the gap versus the nation is −7.7 pts.
- Which ZIP codes are in 3-digit ZIP region 489?
- All ZIP codes that begin with 489. Census 2010 ZIP Code Tabulation Areas in this region run from 48906 to 48933 (8 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.