3-digit ZIP regional index
Home appreciation in ZIP codes 550xxLakeville, MN area
FHFA HPI® data shows the regional home price index for ZIP codes beginning with 550 changed +1.8% over the year to Q2 2026, compared with +3.0% for Minnesota and +3.0% for the United States.
The region covers ZIP codes 55001–55092. Most of its 2010 population lived in Dakota County (29%), Washington County (21%), Anoka County (10%). Communities in the region include Cottage Grove, Inver Grove Heights, Owatonna, Faribault, Hastings. This is a regional index, not a ZIP5, street, or individual-home estimate.
- 1-year change
- +1.8%
- 5-year change
- +29.3%
- Since Q1 1995
- +251%
- National rank (1 year)
- 672nd
Year to Q2 2026
vs U.S. +41.3%
vs U.S. +292%
of 882 ZIP3 regions
ZIP3 550 vs Minnesota and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- ZIP3 550: 351.5
- Minnesota: 375.3
- Minneapolis-St. Paul-Bloomington, MN-WI metro: 367.7
- United States: 391.6
Want a different starting year? Rebase this chart or compare with another ZIP3.
Appreciation by time window
| Window | ZIP3 550 | MN | U.S. | Gap vs MN | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +1.8% | +3.0% | +3.0% | −1.1 pts | −1.2 pts |
| 3 years | +8.8% | +10.3% | +12.9% | −1.6 pts | −4.1 pts |
| 5 years | +29.3% | +31.2% | +41.3% | −1.9 pts | −12.0 pts |
| 10 years | +75.4% | +76.2% | +93.3% | −0.8 pts | −18.0 pts |
| Since Q1 1995 | +251% | +275% | +292% | −23.8 pts | −40.1 pts |
If you bought in ZIP3 550 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 | +246% | $1,037,835 |
| Q2 2000 | +148% | $744,398 |
| Q2 2005 | +61.4% | $484,154 |
| Q2 2010 | +99.4% | $598,230 |
| Q2 2015 | +84.6% | $553,948 |
| Q2 2020 | +44.8% | $434,265 |
| Q2 2021 | +29.3% | $387,833 |
| Q2 2023 | +8.8% | $326,331 |
| Q2 2025 | +1.8% | $305,529 |
How ZIP3 550 ranks
Over the past year ZIP3 550 ranks 672nd of 882 3-digit ZIP regions nationally and 15th of 16 in Minnesota. Its one-year change is −1.2 pts versus the nation and −1.1 pts versus Minnesota. Rank 1 is the strongest appreciation.
| Window | National rank | Rank in Minnesota |
|---|---|---|
| 1 year | 672nd of 882 | 15th of 16 |
| 3 years | 753rd of 882 | 14th of 16 |
| 5 years | 801st of 882 | 14th of 16 |
| 10 years | 668th of 882 | 13th of 16 |
| Since Q1 1995 | 489th of 879 | 15th of 16 |
Boom, bust, and recovery in ZIP3 550
ZIP3 550's index peaked in Q4 2006, fell 28.8% to its low in Q2 2012, and regained its peak in Q3 2018, about 11.8 years after the top. Today it sits +54.9% 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 550 | Q4 2006 | Q2 2012 | -28.8% | Q3 2018 (11.8 yrs) | +54.9% |
| MN | Q1 2007 | Q2 2012 | -21.8% | Q3 2017 (10.5 yrs) | +65.5% |
| Metro | Q1 2007 | Q2 2012 | -26.2% | Q1 2018 (11 yrs) | +57.8% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, ZIP3 550's index has changed +58.8% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | ZIP3 550 after inflation | MN after inflation | Metro after inflation | U.S. after inflation |
|---|---|---|---|---|---|
| 1 year | +3.9% | -1.9% | -0.9% | -1.2% | -0.8% |
| 3 years | +9.8% | -0.9% | +0.5% | -1.1% | +2.8% |
| 5 years | +24.0% | +4.2% | +5.8% | +2.7% | +13.9% |
| 10 years | +39.1% | +26.1% | +26.7% | +24.1% | +39.0% |
| Since Q1 1995 | +121% | +58.8% | +69.5% | +66.1% | +76.8% |
Estimate appreciation for a home in ZIP3 550
Regional estimate
$526,115
- Estimated gain
- $226,115
- Index change
- +75.37%
- Start index
- 200.42
- End index
- 351.48
ZIP3 550 (Lakeville, MN 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 |
|---|---|---|---|---|
| 551 · St. Paul, MN area | MN | +2.7% | +25.5% | +260% |
| 554 · Minneapolis, MN area | MN | +2.1% | +23.7% | +296% |
| 540 · River Falls, WI area | WI | +6.0% | +42.9% | +305% |
| 553 · Maple Grove, MN area | MN | +2.8% | +30.1% | +254% |
| 560 · Mankato, MN area | MN | +3.0% | +35.4% | +249% |
| 547 · Eau Claire, WI area | WI | +3.1% | +48.6% | +319% |
Recent quarterly index values
| Period | Index |
|---|---|
| Q2 2026 | 351.48 |
| Q1 2026 | 349.50 |
| Q4 2025 | 345.08 |
| Q3 2025 | 346.40 |
| Q2 2025 | 345.12 |
| Q1 2025 | 335.96 |
| Q4 2024 | 335.80 |
| Q3 2024 | 337.56 |
| Q2 2024 | 334.52 |
| Q1 2024 | 325.02 |
| Q4 2023 | 320.95 |
| Q3 2023 | 326.44 |
Frequently asked questions
- How much have home prices risen in ZIP codes starting with 550?
- Based on FHFA HPI® data for 3-digit ZIP region 550, the regional index changed +1.8% over the year to Q2 2026, +29.3% over five years, +75.4% over ten years, and +251% since Q1 1995.
- Is ZIP3 550 appreciating faster than Minnesota and the U.S.?
- Over the past year the region's index +1.8% compares with +3.0% for Minnesota and +3.0% for the U.S., a gap of −1.2 pts versus the nation. Over five years the gap versus the nation is −12.0 pts.
- Which ZIP codes are in 3-digit ZIP region 550?
- All ZIP codes that begin with 550. Census 2010 ZIP Code Tabulation Areas in this region run from 55001 to 55092 (69 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.