3-digit ZIP regional index
Home appreciation in ZIP codes 951xxSan Jose, CA area
FHFA HPI® data shows the regional home price index for ZIP codes beginning with 951 changed -0.4% over the year to Q2 2026, compared with +0.9% for California and +3.0% for the United States.
The region covers ZIP codes 95110–95148. Most of its 2010 population lived in Santa Clara County (100%). Communities in the region include Alum Rock, East Foothills, Burbank, Cambrian Park, Campbell. This is a regional index, not a ZIP5, street, or individual-home estimate.
- 1-year change
- -0.4%
- 5-year change
- +31.2%
- Since Q1 1995
- +501%
- National rank (1 year)
- 835th
Year to Q2 2026
vs U.S. +41.3%
vs U.S. +292%
of 882 ZIP3 regions
ZIP3 951 vs California and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- ZIP3 951: 601.2
- 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 951 | CA | U.S. | Gap vs CA | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | -0.4% | +0.9% | +3.0% | −1.3 pts | −3.5 pts |
| 3 years | +8.2% | +7.7% | +12.9% | +0.5 pts | −4.6 pts |
| 5 years | +31.2% | +28.1% | +41.3% | +3.1 pts | −10.1 pts |
| 10 years | +62.2% | +76.2% | +93.3% | −14.0 pts | −31.1 pts |
| Since Q1 1995 | +501% | +388% | +292% | +112.7 pts | +209.6 pts |
If you bought in ZIP3 951 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 | +495% | $1,784,181 |
| Q2 2000 | +223% | $969,753 |
| Q2 2005 | +106% | $618,043 |
| Q2 2010 | +149% | $747,730 |
| Q2 2015 | +76.9% | $530,817 |
| Q2 2020 | +37.3% | $411,944 |
| Q2 2021 | +31.2% | $393,552 |
| Q2 2023 | +8.2% | $324,648 |
| Q2 2025 | -0.4% | $298,683 |
How ZIP3 951 ranks
Over the past year ZIP3 951 ranks 835th of 882 3-digit ZIP regions nationally and 47th of 57 in California. Its one-year change is −3.5 pts versus the nation and −1.3 pts versus California. Rank 1 is the strongest appreciation.
| Window | National rank | Rank in California |
|---|---|---|
| 1 year | 835th of 882 | 47th of 57 |
| 3 years | 763rd of 882 | 32nd of 57 |
| 5 years | 778th of 882 | 29th of 57 |
| 10 years | 804th of 882 | 46th of 57 |
| Since Q1 1995 | 17th of 879 | 9th of 57 |
Boom, bust, and recovery in ZIP3 951
ZIP3 951's index peaked in Q3 2006, fell 28.9% to its low in Q1 2012, and regained its peak in Q2 2015, about 8.8 years after the top. Today it sits +84.5% 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 951 | Q3 2006 | Q1 2012 | -28.9% | Q2 2015 (8.8 yrs) | +84.5% |
| 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 951's index has changed +172% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | ZIP3 951 after inflation | CA after inflation | Metro after inflation | U.S. after inflation |
|---|---|---|---|---|---|
| 1 year | +3.9% | -4.1% | -2.9% | -4.7% | -0.8% |
| 3 years | +9.8% | -1.4% | -1.9% | -3.4% | +2.8% |
| 5 years | +24.0% | +5.8% | +3.3% | +2.7% | +13.9% |
| 10 years | +39.1% | +16.6% | +26.7% | +9.4% | +39.0% |
| Since Q1 1995 | +121% | +172% | +121% | +152% | +76.8% |
Estimate appreciation for a home in ZIP3 951
Regional estimate
$486,538
- Estimated gain
- $186,538
- Index change
- +62.18%
- Start index
- 370.67
- End index
- 601.15
ZIP3 951 (San Jose, 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 |
|---|---|---|---|---|
| 950 · Santa Clara, CA area | CA | +0.2% | +20.7% | +383% |
| 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% |
| 946 · Oakland, CA area | CA | +2.6% | +1.4% | +420% |
| 945 · Fremont, CA area | CA | +0.8% | +17.0% | +362% |
Recent quarterly index values
| Period | Index |
|---|---|
| Q2 2026 | 601.15 |
| Q1 2026 | 595.65 |
| Q4 2025 | 595.58 |
| Q3 2025 | 590.72 |
| Q2 2025 | 603.80 |
| Q1 2025 | 588.26 |
| Q4 2024 | 599.41 |
| Q3 2024 | 587.81 |
| Q2 2024 | 598.09 |
| Q1 2024 | 578.76 |
| Q4 2023 | 580.30 |
| Q3 2023 | 557.00 |
Frequently asked questions
- How much have home prices risen in ZIP codes starting with 951?
- Based on FHFA HPI® data for 3-digit ZIP region 951, the regional index changed -0.4% over the year to Q2 2026, +31.2% over five years, +62.2% over ten years, and +501% since Q1 1995.
- Is ZIP3 951 appreciating faster than California and the U.S.?
- Over the past year the region's index -0.4% compares with +0.9% for California and +3.0% for the U.S., a gap of −3.5 pts versus the nation. Over five years the gap versus the nation is −10.1 pts.
- Which ZIP codes are in 3-digit ZIP region 951?
- All ZIP codes that begin with 951. Census 2010 ZIP Code Tabulation Areas in this region run from 95110 to 95148 (29 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.