3-digit ZIP regional index
Home appreciation in ZIP codes 950xxSanta Clara, CA area
FHFA HPI® data shows the regional home price index for ZIP codes beginning with 950 changed +0.2% over the year to Q2 2026, compared with +0.9% for California and +3.0% for the United States.
The region covers ZIP codes 95002–95076. Most of its 2010 population lived in Santa Clara County (58%), Santa Cruz County (32%), San Benito County (7%). Communities in the region include Milpitas, Santa Cruz, Cupertino, Watsonville, Gilroy. This is a regional index, not a ZIP5, street, or individual-home estimate.
- 1-year change
- +0.2%
- 5-year change
- +20.7%
- Since Q1 1995
- +383%
- National rank (1 year)
- 811th
Year to Q2 2026
vs U.S. +41.3%
vs U.S. +292%
of 882 ZIP3 regions
ZIP3 950 vs California and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- ZIP3 950: 482.9
- California: 488.5
- San Jose-Sunnyvale-Santa Clara, CA metro: 558.8
- United States: 391.6
Want a different starting year? Rebase this chart or compare with another ZIP3.
Appreciation by time window
| Window | ZIP3 950 | CA | U.S. | Gap vs CA | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +0.2% | +0.9% | +3.0% | −0.7 pts | −2.8 pts |
| 3 years | +4.5% | +7.7% | +12.9% | −3.2 pts | −8.4 pts |
| 5 years | +20.7% | +28.1% | +41.3% | −7.4 pts | −20.6 pts |
| 10 years | +48.3% | +76.2% | +93.3% | −27.9 pts | −45.0 pts |
| Since Q1 1995 | +383% | +388% | +292% | −5.5 pts | +91.4 pts |
If you bought in ZIP3 950 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 | +379% | $1,436,924 |
| Q2 2000 | +180% | $840,303 |
| Q2 2005 | +69.0% | $507,034 |
| Q2 2010 | +113% | $639,810 |
| Q2 2015 | +61.5% | $484,565 |
| Q2 2020 | +31.4% | $394,191 |
| Q2 2021 | +20.7% | $361,977 |
| Q2 2023 | +4.5% | $313,414 |
| Q2 2025 | +0.2% | $300,535 |
How ZIP3 950 ranks
Over the past year ZIP3 950 ranks 811th of 882 3-digit ZIP regions nationally and 44th of 57 in California. Its one-year change is −2.8 pts versus the nation and −0.7 pts versus California. Rank 1 is the strongest appreciation.
| Window | National rank | Rank in California |
|---|---|---|
| 1 year | 811th of 882 | 44th of 57 |
| 3 years | 837th of 882 | 47th of 57 |
| 5 years | 859th of 882 | 46th of 57 |
| 10 years | 856th of 882 | 49th of 57 |
| Since Q1 1995 | 103rd of 879 | 35th of 57 |
Boom, bust, and recovery in ZIP3 950
ZIP3 950's index peaked in Q2 2006, fell 31.5% to its low in Q1 2012, and regained its peak in Q1 2016, about 9.8 years after the top. Today it sits +53.2% 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 950 | Q2 2006 | Q1 2012 | -31.5% | Q1 2016 (9.8 yrs) | +53.2% |
| CA | Q3 2006 | Q1 2012 | -41.0% | Q2 2019 (12.8 yrs) | +50.9% |
| Metro | Q3 2006 | Q1 2012 | -26.8% | Q1 2015 (8.5 yrs) | +74.5% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, ZIP3 950's index has changed +118% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | ZIP3 950 after inflation | CA after inflation | Metro after inflation | U.S. after inflation |
|---|---|---|---|---|---|
| 1 year | +3.9% | -3.5% | -2.9% | -4.7% | -0.8% |
| 3 years | +9.8% | -4.9% | -1.9% | -3.4% | +2.8% |
| 5 years | +24.0% | -2.7% | +3.3% | +2.7% | +13.9% |
| 10 years | +39.1% | +6.6% | +26.7% | +9.4% | +39.0% |
| Since Q1 1995 | +121% | +118% | +121% | +152% | +76.8% |
Estimate appreciation for a home in ZIP3 950
Regional estimate
$444,842
- Estimated gain
- $144,842
- Index change
- +48.28%
- Start index
- 325.70
- End index
- 482.95
ZIP3 950 (Santa Clara, 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 |
|---|---|---|---|---|
| 951 · San Jose, CA area | CA | -0.4% | +31.2% | +501% |
| 943 · Palo Alto, CA area | CA | -1.4% | +29.7% | +471% |
| 940 · Sunnyvale, CA area | CA | +0.6% | +20.8% | +392% |
| 944 · San Mateo, CA area | CA | +4.2% | +29.6% | +395% |
| 939 · Salinas, CA area | CA | +3.2% | +31.1% | +351% |
| 946 · Oakland, CA area | CA | +2.6% | +1.4% | +420% |
Recent quarterly index values
| Period | Index |
|---|---|
| Q2 2026 | 482.95 |
| Q1 2026 | 489.72 |
| Q4 2025 | 480.12 |
| Q3 2025 | 481.68 |
| Q2 2025 | 482.09 |
| Q1 2025 | 479.63 |
| Q4 2024 | 472.67 |
| Q3 2024 | 476.22 |
| Q2 2024 | 468.13 |
| Q1 2024 | 479.37 |
| Q4 2023 | 468.88 |
| Q3 2023 | 467.58 |
Frequently asked questions
- How much have home prices risen in ZIP codes starting with 950?
- Based on FHFA HPI® data for 3-digit ZIP region 950, the regional index changed +0.2% over the year to Q2 2026, +20.7% over five years, +48.3% over ten years, and +383% since Q1 1995.
- Is ZIP3 950 appreciating faster than California and the U.S.?
- Over the past year the region's index +0.2% compares with +0.9% for California and +3.0% for the U.S., a gap of −2.8 pts versus the nation. Over five years the gap versus the nation is −20.6 pts.
- Which ZIP codes are in 3-digit ZIP region 950?
- All ZIP codes that begin with 950. Census 2010 ZIP Code Tabulation Areas in this region run from 95002 to 95076 (39 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.