3-digit ZIP regional index
Home appreciation in ZIP codes 948xxRichmond, CA area
FHFA HPI® data shows the regional home price index for ZIP codes beginning with 948 changed +1.6% over the year to Q2 2026, compared with +0.9% for California and +3.0% for the United States.
The region covers ZIP codes 94801–94850. Most of its 2010 population lived in Contra Costa County (100%). Communities in the region include San Pablo, El Sobrante, Tara Hills, North Richmond, East Richmond Heights. This is a regional index, not a ZIP5, street, or individual-home estimate.
- 1-year change
- +1.6%
- 5-year change
- +11.3%
- Since Q1 1995
- +394%
- National rank (1 year)
- 706th
Year to Q2 2026
vs U.S. +41.3%
vs U.S. +292%
of 882 ZIP3 regions
ZIP3 948 vs California and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- ZIP3 948: 493.5
- California: 488.5
- Oakland-Fremont-Berkeley, CA metro: 456.0
- United States: 391.6
Want a different starting year? Rebase this chart or compare with another ZIP3.
Appreciation by time window
| Window | ZIP3 948 | CA | U.S. | Gap vs CA | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +1.6% | +0.9% | +3.0% | +0.7 pts | −1.4 pts |
| 3 years | +2.0% | +7.7% | +12.9% | −5.6 pts | −10.8 pts |
| 5 years | +11.3% | +28.1% | +41.3% | −16.8 pts | −30.0 pts |
| 10 years | +67.1% | +76.2% | +93.3% | −9.1 pts | −26.2 pts |
| Since Q1 1995 | +394% | +388% | +292% | +5.0 pts | +101.9 pts |
If you bought in ZIP3 948 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 | +384% | $1,451,186 |
| Q2 2000 | +236% | $1,008,652 |
| Q2 2005 | +52.8% | $458,302 |
| Q2 2010 | +183% | $847,647 |
| Q2 2015 | +90.5% | $571,511 |
| Q2 2020 | +25.7% | $376,977 |
| Q2 2021 | +11.3% | $333,890 |
| Q2 2023 | +2.0% | $306,141 |
| Q2 2025 | +1.6% | $304,742 |
How ZIP3 948 ranks
Over the past year ZIP3 948 ranks 706th of 882 3-digit ZIP regions nationally and 24th of 57 in California. Its one-year change is −1.4 pts versus the nation and +0.7 pts versus California. Rank 1 is the strongest appreciation.
| Window | National rank | Rank in California |
|---|---|---|
| 1 year | 706th of 882 | 24th of 57 |
| 3 years | 866th of 882 | 52nd of 57 |
| 5 years | 879th of 882 | 56th of 57 |
| 10 years | 767th of 882 | 45th of 57 |
| Since Q1 1995 | 87th of 879 | 33rd of 57 |
Boom, bust, and recovery in ZIP3 948
ZIP3 948's index peaked in Q2 2006, fell 57.5% to its low in Q4 2011, and regained its peak in Q2 2018, about 12 years after the top. Today it sits +37.5% 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 948 | Q2 2006 | Q4 2011 | -57.5% | Q2 2018 (12 yrs) | +37.5% |
| CA | Q3 2006 | Q1 2012 | -41.0% | Q2 2019 (12.8 yrs) | +50.9% |
| Metro | Q2 2006 | Q1 2012 | -39.7% | Q4 2016 (10.5 yrs) | +41.5% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, ZIP3 948's index has changed +123% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | ZIP3 948 after inflation | CA after inflation | Metro after inflation | U.S. after inflation |
|---|---|---|---|---|---|
| 1 year | +3.9% | -2.2% | -2.9% | -8.3% | -0.8% |
| 3 years | +9.8% | -7.1% | -1.9% | -11.5% | +2.8% |
| 5 years | +24.0% | -10.3% | +3.3% | -12.7% | +13.9% |
| 10 years | +39.1% | +20.1% | +26.7% | +4.7% | +39.0% |
| Since Q1 1995 | +121% | +123% | +121% | +106% | +76.8% |
Estimate appreciation for a home in ZIP3 948
Regional estimate
$501,304
- Estimated gain
- $201,304
- Index change
- +67.10%
- Start index
- 295.33
- End index
- 493.50
ZIP3 948 (Richmond, CA 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 |
|---|---|---|---|---|
| 947 · Berkeley, CA area | CA | +4.7% | +22.2% | +457% |
| 946 · Oakland, CA area | CA | +2.6% | +1.4% | +420% |
| 941 · San Francisco, CA area | CA | +0.9% | +13.3% | +418% |
| 949 · Petaluma, CA area | CA | +2.7% | +19.9% | +319% |
| 945 · Fremont, CA area | CA | +0.8% | +17.0% | +362% |
| 944 · San Mateo, CA area | CA | +4.2% | +29.6% | +395% |
Recent quarterly index values
| Period | Index |
|---|---|
| Q2 2026 | 493.50 |
| Q1 2026 | 500.37 |
| Q4 2025 | 488.05 |
| Q3 2025 | 494.31 |
| Q2 2025 | 485.82 |
| Q1 2025 | 481.55 |
| Q4 2024 | 487.96 |
| Q3 2024 | 505.62 |
| Q2 2024 | 498.66 |
| Q1 2024 | 474.90 |
| Q4 2023 | 487.73 |
| Q3 2023 | 492.31 |
Frequently asked questions
- How much have home prices risen in ZIP codes starting with 948?
- Based on FHFA HPI® data for 3-digit ZIP region 948, the regional index changed +1.6% over the year to Q2 2026, +11.3% over five years, +67.1% over ten years, and +394% since Q1 1995.
- Is ZIP3 948 appreciating faster than California and the U.S.?
- Over the past year the region's index +1.6% compares with +0.9% for California and +3.0% for the U.S., a gap of −1.4 pts versus the nation. Over five years the gap versus the nation is −30.0 pts.
- Which ZIP codes are in 3-digit ZIP region 948?
- All ZIP codes that begin with 948. Census 2010 ZIP Code Tabulation Areas in this region run from 94801 to 94850 (6 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.