3-digit ZIP regional index
Home appreciation in ZIP codes 515xxCouncil Bluffs, IA area
FHFA HPI® data shows the regional home price index for ZIP codes beginning with 515 changed +3.8% over the year to Q2 2026, compared with +3.2% for Iowa and +3.0% for the United States.
The region covers ZIP codes 51501–51579. Most of its 2010 population lived in Pottawattamie County (63%), Harrison County (10%), Mills County (10%). Communities in the region include Red Oak, Glenwood, Harlan, Carter Lake, Missouri Valley. This is a regional index, not a ZIP5, street, or individual-home estimate.
- 1-year change
- +3.8%
- 5-year change
- +47.3%
- Since Q1 1995
- +288%
- National rank (1 year)
- 422nd
Year to Q2 2026
vs U.S. +41.3%
vs U.S. +292%
of 882 ZIP3 regions
ZIP3 515 vs Iowa and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- ZIP3 515: 388.5
- Iowa: 312.1
- Omaha, NE-IA metro: 348.6
- United States: 391.6
Want a different starting year? Rebase this chart or compare with another ZIP3.
Appreciation by time window
| Window | ZIP3 515 | IA | U.S. | Gap vs IA | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +3.8% | +3.2% | +3.0% | +0.6 pts | +0.8 pts |
| 3 years | +14.4% | +13.1% | +12.9% | +1.2 pts | +1.5 pts |
| 5 years | +47.3% | +37.4% | +41.3% | +9.9 pts | +6.0 pts |
| 10 years | +94.8% | +70.6% | +93.3% | +24.2 pts | +1.5 pts |
| Since Q1 1995 | +288% | +212% | +292% | +76.4 pts | −3.1 pts |
If you bought in ZIP3 515 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 | +266% | $1,097,946 |
| Q2 2000 | +165% | $795,597 |
| Q2 2005 | +118% | $652,705 |
| Q2 2010 | +110% | $629,507 |
| Q2 2015 | +104% | $612,342 |
| Q2 2020 | +62.9% | $488,810 |
| Q2 2021 | +47.3% | $441,918 |
| Q2 2023 | +14.4% | $343,088 |
| Q2 2025 | +3.8% | $311,481 |
How ZIP3 515 ranks
Over the past year ZIP3 515 ranks 422nd of 882 3-digit ZIP regions nationally and 8th of 25 in Iowa. Its one-year change is +0.8 pts versus the nation and +0.6 pts versus Iowa. Rank 1 is the strongest appreciation.
| Window | National rank | Rank in Iowa |
|---|---|---|
| 1 year | 422nd of 882 | 8th of 25 |
| 3 years | 503rd of 882 | 15th of 25 |
| 5 years | 336th of 882 | 1st of 25 |
| 10 years | 385th of 882 | 1st of 25 |
| Since Q1 1995 | 346th of 879 | 1st of 25 |
Boom, bust, and recovery in ZIP3 515
ZIP3 515's index peaked in Q2 2007, fell 5.7% to its low in Q1 2011, and regained its peak in Q1 2015, about 7.8 years after the top. Today it sits +101% 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 515 | Q2 2007 | Q1 2011 | -5.7% | Q1 2015 (7.8 yrs) | +101% |
| IA | Q1 2009 | Q2 2011 | -2.5% | Q4 2012 (3.8 yrs) | +86.4% |
| Metro | Q2 2007 | Q2 2011 | -5.2% | Q3 2014 (7.2 yrs) | +110% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, ZIP3 515's index has changed +75.5% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | ZIP3 515 after inflation | IA after inflation | Metro after inflation | U.S. after inflation |
|---|---|---|---|---|---|
| 1 year | +3.9% | -0.0% | -0.6% | +0.3% | -0.8% |
| 3 years | +9.8% | +4.2% | +3.0% | +1.4% | +2.8% |
| 5 years | +24.0% | +18.8% | +10.8% | +13.0% | +13.9% |
| 10 years | +39.1% | +40.1% | +22.7% | +40.3% | +39.0% |
| Since Q1 1995 | +121% | +75.5% | +40.9% | +57.4% | +76.8% |
Estimate appreciation for a home in ZIP3 515
Regional estimate
$584,518
- Estimated gain
- $284,518
- Index change
- +94.84%
- Start index
- 199.39
- End index
- 388.49
ZIP3 515 (Council Bluffs, 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 |
|---|---|---|---|---|
| 681 · Omaha, NE area | NE | +3.8% | +38.2% | +243% |
| 680 · Fremont, NE area | NE | +3.6% | +41.9% | +249% |
| 516 · Clarinda, IA area | IA | +3.1% | +39.6% | +239% |
| 685 · Lincoln, NE area | NE | +2.0% | +38.9% | +237% |
| 514 · Carroll, IA area | IA | +3.1% | +39.6% | +239% |
| 508 · Creston, IA area | IA | +3.1% | +39.6% | +239% |
Recent quarterly index values
| Period | Index |
|---|---|
| Q2 2026 | 388.49 |
| Q1 2026 | 378.47 |
| Q4 2025 | 375.75 |
| Q3 2025 | 370.42 |
| Q2 2025 | 374.17 |
| Q1 2025 | 357.09 |
| Q4 2024 | 351.26 |
| Q3 2024 | 357.38 |
| Q2 2024 | 359.78 |
| Q1 2024 | 339.61 |
| Q4 2023 | 331.74 |
| Q3 2023 | 330.02 |
Frequently asked questions
- How much have home prices risen in ZIP codes starting with 515?
- Based on FHFA HPI® data for 3-digit ZIP region 515, the regional index changed +3.8% over the year to Q2 2026, +47.3% over five years, +94.8% over ten years, and +288% since Q1 1995.
- Is ZIP3 515 appreciating faster than Iowa and the U.S.?
- Over the past year the region's index +3.8% compares with +3.2% for Iowa and +3.0% for the U.S., a gap of +0.8 pts versus the nation. Over five years the gap versus the nation is +6.0 pts.
- Which ZIP codes are in 3-digit ZIP region 515?
- All ZIP codes that begin with 515. Census 2010 ZIP Code Tabulation Areas in this region run from 51501 to 51579 (54 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.