3-digit ZIP regional index
Home appreciation in ZIP codes 496xxTraverse City, MI area
FHFA HPI® data shows the regional home price index for ZIP codes beginning with 496 changed +5.0% over the year to Q2 2026, compared with +4.6% for Michigan and +3.0% for the United States.
The region covers ZIP codes 49601–49690. Most of its 2010 population lived in Grand Traverse County (33%), Wexford County (12%), Manistee County (9%). Communities in the region include Cadillac, Manistee, Reed City, Kalkaska, Evart. This is a regional index, not a ZIP5, street, or individual-home estimate.
- 1-year change
- +5.0%
- 5-year change
- +61.7%
- Since Q1 1995
- +364%
- National rank (1 year)
- 266th
Year to Q2 2026
vs U.S. +41.3%
vs U.S. +292%
of 882 ZIP3 regions
ZIP3 496 vs Michigan and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- ZIP3 496: 463.5
- Michigan: 328.0
- Traverse City, MI metro: 475.7
- United States: 391.6
Want a different starting year? Rebase this chart or compare with another ZIP3.
Appreciation by time window
| Window | ZIP3 496 | MI | U.S. | Gap vs MI | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +5.0% | +4.6% | +3.0% | +0.4 pts | +2.0 pts |
| 3 years | +21.1% | +18.0% | +12.9% | +3.1 pts | +8.2 pts |
| 5 years | +61.7% | +45.6% | +41.3% | +16.1 pts | +20.4 pts |
| 10 years | +134% | +104% | +93.3% | +30.6 pts | +40.8 pts |
| Since Q1 1995 | +364% | +228% | +292% | +135.5 pts | +72.0 pts |
If you bought in ZIP3 496 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 | +353% | $1,357,865 |
| Q2 2000 | +208% | $924,041 |
| Q2 2005 | +132% | $696,340 |
| Q2 2010 | +168% | $804,693 |
| Q2 2015 | +148% | $742,638 |
| Q2 2020 | +86.9% | $560,631 |
| Q2 2021 | +61.7% | $485,101 |
| Q2 2023 | +21.1% | $363,259 |
| Q2 2025 | +5.0% | $314,969 |
How ZIP3 496 ranks
Over the past year ZIP3 496 ranks 266th of 882 3-digit ZIP regions nationally and 9th of 20 in Michigan. Its one-year change is +2.0 pts versus the nation and +0.4 pts versus Michigan. Rank 1 is the strongest appreciation.
| Window | National rank | Rank in Michigan |
|---|---|---|
| 1 year | 266th of 882 | 9th of 20 |
| 3 years | 166th of 882 | 7th of 20 |
| 5 years | 35th of 882 | 3rd of 20 |
| 10 years | 17th of 882 | 3rd of 20 |
| Since Q1 1995 | 134th of 879 | 1st of 20 |
Boom, bust, and recovery in ZIP3 496
ZIP3 496's index peaked in Q1 2006, fell 19.9% to its low in Q2 2012, and regained its peak in Q1 2017, about 11 years after the top. Today it sits +127% 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 496 | Q1 2006 | Q2 2012 | -19.9% | Q1 2017 (11 yrs) | +127% |
| MI | Q3 2005 | Q2 2011 | -29.4% | Q2 2018 (12.8 yrs) | +83.3% |
| Metro | Q2 2007 | Q2 2012 | -19.4% | Q2 2016 (9 yrs) | +134% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, ZIP3 496's index has changed +109% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | ZIP3 496 after inflation | MI after inflation | Metro after inflation | U.S. after inflation |
|---|---|---|---|---|---|
| 1 year | +3.9% | +1.1% | +0.7% | -0.5% | -0.8% |
| 3 years | +9.8% | +10.3% | +7.4% | +7.6% | +2.8% |
| 5 years | +24.0% | +30.4% | +17.4% | +28.6% | +13.9% |
| 10 years | +39.1% | +68.4% | +46.3% | +66.0% | +39.0% |
| Since Q1 1995 | +121% | +109% | +48.1% | +115% | +76.8% |
Estimate appreciation for a home in ZIP3 496
Regional estimate
$702,460
- Estimated gain
- $402,460
- Index change
- +134%
- Start index
- 197.96
- End index
- 463.53
ZIP3 496 (Traverse 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 |
|---|---|---|---|---|
| 497 · Sault Ste. Marie, MI area | MI | +6.2% | +70.5% | +297% |
| 486 · Saginaw, MI area | MI | +5.6% | +55.0% | +198% |
| 493 · Big Rapids, MI area | MI | +5.3% | +51.1% | +275% |
| 542 · Manitowoc, WI area | WI | +5.4% | +68.4% | +273% |
| 494 · Muskegon, MI area | MI | +4.4% | +54.5% | +288% |
| 487 · Bay City, MI area | MI | +3.9% | +55.2% | +212% |
Recent quarterly index values
| Period | Index |
|---|---|
| Q2 2026 | 463.53 |
| Q1 2026 | 446.48 |
| Q4 2025 | 449.79 |
| Q3 2025 | 445.33 |
| Q2 2025 | 441.50 |
| Q1 2025 | 433.20 |
| Q4 2024 | 423.57 |
| Q3 2024 | 423.91 |
| Q2 2024 | 418.63 |
| Q1 2024 | 397.21 |
| Q4 2023 | 394.00 |
| Q3 2023 | 394.38 |
Frequently asked questions
- How much have home prices risen in ZIP codes starting with 496?
- Based on FHFA HPI® data for 3-digit ZIP region 496, the regional index changed +5.0% over the year to Q2 2026, +61.7% over five years, +134% over ten years, and +364% since Q1 1995.
- Is ZIP3 496 appreciating faster than Michigan and the U.S.?
- Over the past year the region's index +5.0% compares with +4.6% for Michigan and +3.0% for the U.S., a gap of +2.0 pts versus the nation. Over five years the gap versus the nation is +20.4 pts.
- Which ZIP codes are in 3-digit ZIP region 496?
- All ZIP codes that begin with 496. Census 2010 ZIP Code Tabulation Areas in this region run from 49601 to 49690 (66 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.