3-digit ZIP regional index
Home appreciation in ZIP codes 972xxPortland, OR area
FHFA HPI® data shows the regional home price index for ZIP codes beginning with 972 changed +1.2% over the year to Q2 2026, compared with +1.6% for Oregon and +3.0% for the United States.
The region covers ZIP codes 97201–97267. Most of its 2010 population lived in Multnomah County (74%), Washington County (18%), Clackamas County (8%). Communities in the region include Tigard, Gresham, Bethany, Milwaukie, Oak Grove. This is a regional index, not a ZIP5, street, or individual-home estimate.
- 1-year change
- +1.2%
- 5-year change
- +15.2%
- Since Q1 1995
- +401%
- National rank (1 year)
- 756th
Year to Q2 2026
vs U.S. +41.3%
vs U.S. +292%
of 882 ZIP3 regions
ZIP3 972 vs Oregon and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- ZIP3 972: 500.7
- Oregon: 447.6
- Portland-Vancouver-Hillsboro, OR-WA metro: 455.9
- United States: 391.6
Want a different starting year? Rebase this chart or compare with another ZIP3.
Appreciation by time window
| Window | ZIP3 972 | OR | U.S. | Gap vs OR | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +1.2% | +1.6% | +3.0% | −0.5 pts | −1.9 pts |
| 3 years | +3.0% | +6.0% | +12.9% | −3.0 pts | −9.8 pts |
| 5 years | +15.2% | +23.8% | +41.3% | −8.7 pts | −26.1 pts |
| 10 years | +53.9% | +80.0% | +93.3% | −26.1 pts | −39.5 pts |
| Since Q1 1995 | +401% | +348% | +292% | +53.1 pts | +109.1 pts |
If you bought in ZIP3 972 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 | +386% | $1,457,330 |
| Q2 2000 | +256% | $1,067,038 |
| Q2 2005 | +143% | $728,382 |
| Q2 2010 | +119% | $657,160 |
| Q2 2015 | +76.1% | $528,414 |
| Q2 2020 | +30.2% | $390,493 |
| Q2 2021 | +15.2% | $345,526 |
| Q2 2023 | +3.0% | $309,074 |
| Q2 2025 | +1.2% | $303,522 |
How ZIP3 972 ranks
Over the past year ZIP3 972 ranks 756th of 882 3-digit ZIP regions nationally and 8th of 10 in Oregon. Its one-year change is −1.9 pts versus the nation and −0.5 pts versus Oregon. Rank 1 is the strongest appreciation.
| Window | National rank | Rank in Oregon |
|---|---|---|
| 1 year | 756th of 882 | 8th of 10 |
| 3 years | 853rd of 882 | 10th of 10 |
| 5 years | 874th of 882 | 10th of 10 |
| 10 years | 842nd of 882 | 10th of 10 |
| Since Q1 1995 | 79th of 879 | 2nd of 10 |
Boom, bust, and recovery in ZIP3 972
ZIP3 972's index peaked in Q4 2007, fell 20.2% to its low in Q2 2011, and regained its peak in Q1 2015, about 7.2 years after the top. Today it sits +87.4% 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 972 | Q4 2007 | Q2 2011 | -20.2% | Q1 2015 (7.2 yrs) | +87.4% |
| OR | Q2 2007 | Q2 2012 | -26.0% | Q1 2016 (8.8 yrs) | +87.0% |
| Metro | Q4 2007 | Q2 2012 | -24.9% | Q3 2015 (7.8 yrs) | +88.8% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, ZIP3 972's index has changed +126% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | ZIP3 972 after inflation | OR after inflation | Metro after inflation | U.S. after inflation |
|---|---|---|---|---|---|
| 1 year | +3.9% | -2.6% | -2.1% | -2.4% | -0.8% |
| 3 years | +9.8% | -6.2% | -3.5% | -4.8% | +2.8% |
| 5 years | +24.0% | -7.1% | -0.1% | -2.3% | +13.9% |
| 10 years | +39.1% | +10.6% | +29.4% | +22.8% | +39.0% |
| Since Q1 1995 | +121% | +126% | +102% | +106% | +76.8% |
Estimate appreciation for a home in ZIP3 972
Regional estimate
$461,536
- Estimated gain
- $161,536
- Index change
- +53.85%
- Start index
- 325.45
- End index
- 500.69
ZIP3 972 (Portland, OR 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 |
|---|---|---|---|---|
| 970 · Beaverton, OR area | OR | +1.2% | +23.5% | +325% |
| 986 · Vancouver, WA area | WA | +2.0% | +31.1% | +339% |
| 971 · Hillsboro, OR area | OR | +1.9% | +28.3% | +348% |
| 973 · Salem, OR area | OR | +0.5% | +29.7% | +322% |
| 985 · Olympia, WA area | WA | +2.3% | +32.9% | +323% |
| 984 · Tacoma, WA area | WA | +3.1% | +27.9% | +422% |
Recent quarterly index values
| Period | Index |
|---|---|
| Q2 2026 | 500.69 |
| Q1 2026 | 497.71 |
| Q4 2025 | 492.93 |
| Q3 2025 | 493.23 |
| Q2 2025 | 494.88 |
| Q1 2025 | 489.49 |
| Q4 2024 | 485.01 |
| Q3 2024 | 484.22 |
| Q2 2024 | 483.68 |
| Q1 2024 | 478.24 |
| Q4 2023 | 467.60 |
| Q3 2023 | 481.74 |
Frequently asked questions
- How much have home prices risen in ZIP codes starting with 972?
- Based on FHFA HPI® data for 3-digit ZIP region 972, the regional index changed +1.2% over the year to Q2 2026, +15.2% over five years, +53.9% over ten years, and +401% since Q1 1995.
- Is ZIP3 972 appreciating faster than Oregon and the U.S.?
- Over the past year the region's index +1.2% compares with +1.6% for Oregon and +3.0% for the U.S., a gap of −1.9 pts versus the nation. Over five years the gap versus the nation is −26.1 pts.
- Which ZIP codes are in 3-digit ZIP region 972?
- All ZIP codes that begin with 972. Census 2010 ZIP Code Tabulation Areas in this region run from 97201 to 97267 (34 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.