3-digit ZIP regional index
Home appreciation in ZIP codes 506xxCedar Falls, IA area
FHFA HPI® data shows the regional home price index for ZIP codes beginning with 506 changed +4.8% over the year to Q2 2026, compared with +3.2% for Iowa and +3.0% for the United States.
The region covers ZIP codes 50601–50682. Most of its 2010 population lived in Black Hawk County (31%), Bremer County (14%), Buchanan County (11%). Communities in the region include Waverly, Charles City, Oelwein, Independence, New Hampton. This is a regional index, not a ZIP5, street, or individual-home estimate.
- 1-year change
- +4.8%
- 5-year change
- +39.4%
- Since Q1 1995
- +250%
- National rank (1 year)
- 287th
Year to Q2 2026
vs U.S. +41.3%
vs U.S. +292%
of 882 ZIP3 regions
ZIP3 506 vs Iowa and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- ZIP3 506: 350.1
- Iowa: 312.1
- Waterloo-Cedar Falls, IA metro: 343.5
- United States: 391.6
Want a different starting year? Rebase this chart or compare with another ZIP3.
Appreciation by time window
| Window | ZIP3 506 | IA | U.S. | Gap vs IA | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +4.8% | +3.2% | +3.0% | +1.5 pts | +1.7 pts |
| 3 years | +16.1% | +13.1% | +12.9% | +3.0 pts | +3.3 pts |
| 5 years | +39.4% | +37.4% | +41.3% | +2.0 pts | −1.9 pts |
| 10 years | +66.1% | +70.6% | +93.3% | −4.5 pts | −27.2 pts |
| Since Q1 1995 | +250% | +212% | +292% | +38.0 pts | −41.5 pts |
If you bought in ZIP3 506 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 | +236% | $1,006,555 |
| Q2 2000 | +151% | $753,022 |
| Q2 2005 | +97.9% | $593,758 |
| Q2 2010 | +82.8% | $548,400 |
| Q2 2015 | +64.9% | $494,556 |
| Q2 2020 | +49.4% | $448,093 |
| Q2 2021 | +39.4% | $418,289 |
| Q2 2023 | +16.1% | $348,419 |
| Q2 2025 | +4.8% | $314,321 |
How ZIP3 506 ranks
Over the past year ZIP3 506 ranks 287th of 882 3-digit ZIP regions nationally and 6th of 25 in Iowa. Its one-year change is +1.7 pts versus the nation and +1.5 pts versus Iowa. Rank 1 is the strongest appreciation.
| Window | National rank | Rank in Iowa |
|---|---|---|
| 1 year | 287th of 882 | 6th of 25 |
| 3 years | 402nd of 882 | 3rd of 25 |
| 5 years | 603rd of 882 | 12th of 25 |
| 10 years | 781st of 882 | 18th of 25 |
| Since Q1 1995 | 496th of 879 | 3rd of 25 |
Boom, bust, and recovery in ZIP3 506
ZIP3 506's index peaked in Q3 2009, fell 2.3% to its low in Q1 2010, and regained its peak in Q4 2010, about 1.2 years after the top. Today it sits +80.8% 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 506 | Q3 2009 | Q1 2010 | -2.3% | Q4 2010 (1.2 yrs) | +80.8% |
| IA | Q1 2009 | Q2 2011 | -2.5% | Q4 2012 (3.8 yrs) | +86.4% |
| Metro | Q2 2009 | Q1 2010 | -1.7% | Q3 2010 (1.2 yrs) | +73.0% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, ZIP3 506's index has changed +58.1% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | ZIP3 506 after inflation | IA after inflation | Metro after inflation | U.S. after inflation |
|---|---|---|---|---|---|
| 1 year | +3.9% | +0.9% | -0.6% | -1.2% | -0.8% |
| 3 years | +9.8% | +5.8% | +3.0% | +2.1% | +2.8% |
| 5 years | +24.0% | +12.4% | +10.8% | +10.5% | +13.9% |
| 10 years | +39.1% | +19.4% | +22.7% | +15.9% | +39.0% |
| Since Q1 1995 | +121% | +58.1% | +40.9% | +55.1% | +76.8% |
Estimate appreciation for a home in ZIP3 506
Regional estimate
$498,335
- Estimated gain
- $198,335
- Index change
- +66.11%
- Start index
- 210.75
- End index
- 350.08
ZIP3 506 (Cedar Falls, IA 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 |
|---|---|---|---|---|
| 507 · Waterloo, IA area | IA | +1.9% | +35.1% | +242% |
| 521 · Decorah, IA area | IA | +3.1% | +39.6% | +239% |
| 504 · Mason City, IA area | IA | +5.2% | +37.4% | +242% |
| 524 · Cedar Rapids, IA area | IA | +5.7% | +34.8% | +151% |
| 523 · Marion, IA area | IA | +6.1% | +38.1% | +183% |
| 522 · Iowa City, IA area | IA | +2.3% | +33.6% | +177% |
Recent quarterly index values
| Period | Index |
|---|---|
| Q2 2026 | 350.08 |
| Q1 2026 | 341.85 |
| Q4 2025 | 336.76 |
| Q3 2025 | 336.54 |
| Q2 2025 | 334.13 |
| Q1 2025 | 324.81 |
| Q4 2024 | 324.42 |
| Q3 2024 | 330.35 |
| Q2 2024 | 315.39 |
| Q1 2024 | 318.04 |
| Q4 2023 | 311.80 |
| Q3 2023 | 305.00 |
Frequently asked questions
- How much have home prices risen in ZIP codes starting with 506?
- Based on FHFA HPI® data for 3-digit ZIP region 506, the regional index changed +4.8% over the year to Q2 2026, +39.4% over five years, +66.1% over ten years, and +250% since Q1 1995.
- Is ZIP3 506 appreciating faster than Iowa and the U.S.?
- Over the past year the region's index +4.8% compares with +3.2% for Iowa and +3.0% for the U.S., a gap of +1.7 pts versus the nation. Over five years the gap versus the nation is −1.9 pts.
- Which ZIP codes are in 3-digit ZIP region 506?
- All ZIP codes that begin with 506. Census 2010 ZIP Code Tabulation Areas in this region run from 50601 to 50682 (63 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.