3-digit ZIP regional index
Home appreciation in ZIP codes 973xxSalem, OR area
FHFA HPI® data shows the regional home price index for ZIP codes beginning with 973 changed +0.5% over the year to Q2 2026, compared with +1.6% for Oregon and +3.0% for the United States.
The region covers ZIP codes 97301–97396. Most of its 2010 population lived in Marion County (46%), Linn County (19%), Benton County (14%). Communities in the region include Corvallis, Albany, Keizer, Hayesville, Four Corners. This is a regional index, not a ZIP5, street, or individual-home estimate.
- 1-year change
- +0.5%
- 5-year change
- +29.7%
- Since Q1 1995
- +322%
- National rank (1 year)
- 798th
Year to Q2 2026
vs U.S. +41.3%
vs U.S. +292%
of 882 ZIP3 regions
ZIP3 973 vs Oregon and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- ZIP3 973: 421.5
- Oregon: 447.6
- Salem, OR metro: 428.2
- United States: 391.6
Want a different starting year? Rebase this chart or compare with another ZIP3.
Appreciation by time window
| Window | ZIP3 973 | OR | U.S. | Gap vs OR | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +0.5% | +1.6% | +3.0% | −1.2 pts | −2.6 pts |
| 3 years | +7.9% | +6.0% | +12.9% | +1.9 pts | −4.9 pts |
| 5 years | +29.7% | +23.8% | +41.3% | +5.9 pts | −11.6 pts |
| 10 years | +108% | +80.0% | +93.3% | +27.5 pts | +14.2 pts |
| Since Q1 1995 | +322% | +348% | +292% | −26.0 pts | +30.0 pts |
If you bought in ZIP3 973 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 | +311% | $1,232,453 |
| Q2 2000 | +240% | $1,021,255 |
| Q2 2005 | +162% | $785,576 |
| Q2 2010 | +138% | $714,232 |
| Q2 2015 | +127% | $679,794 |
| Q2 2020 | +50.2% | $450,652 |
| Q2 2021 | +29.7% | $389,090 |
| Q2 2023 | +7.9% | $323,805 |
| Q2 2025 | +0.5% | $301,394 |
How ZIP3 973 ranks
Over the past year ZIP3 973 ranks 798th of 882 3-digit ZIP regions nationally and 10th of 10 in Oregon. Its one-year change is −2.6 pts versus the nation and −1.2 pts versus Oregon. Rank 1 is the strongest appreciation.
| Window | National rank | Rank in Oregon |
|---|---|---|
| 1 year | 798th of 882 | 10th of 10 |
| 3 years | 771st of 882 | 5th of 10 |
| 5 years | 794th of 882 | 5th of 10 |
| 10 years | 223rd of 882 | 3rd of 10 |
| Since Q1 1995 | 245th of 879 | 7th of 10 |
Boom, bust, and recovery in ZIP3 973
ZIP3 973's index peaked in Q4 2007, fell 24.0% to its low in Q2 2012, and regained its peak in Q4 2016, about 9 years after the top. Today it sits +102% 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 973 | Q4 2007 | Q2 2012 | -24.0% | Q4 2016 (9 yrs) | +102% |
| OR | Q2 2007 | Q2 2012 | -26.0% | Q1 2016 (8.8 yrs) | +87.0% |
| Metro | Q4 2007 | Q2 2012 | -26.9% | Q4 2016 (9 yrs) | +100% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, ZIP3 973's index has changed +90.4% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | ZIP3 973 after inflation | OR after inflation | Metro after inflation | U.S. after inflation |
|---|---|---|---|---|---|
| 1 year | +3.9% | -3.3% | -2.1% | -3.9% | -0.8% |
| 3 years | +9.8% | -1.7% | -3.5% | -3.0% | +2.8% |
| 5 years | +24.0% | +4.6% | -0.1% | +3.0% | +13.9% |
| 10 years | +39.1% | +49.2% | +29.4% | +48.8% | +39.0% |
| Since Q1 1995 | +121% | +90.4% | +102% | +93.4% | +76.8% |
Estimate appreciation for a home in ZIP3 973
Regional estimate
$622,506
- Estimated gain
- $322,506
- Index change
- +108%
- Start index
- 203.15
- End index
- 421.54
ZIP3 973 (Salem, 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 |
|---|---|---|---|---|
| 971 · Hillsboro, OR area | OR | +1.9% | +28.3% | +348% |
| 970 · Beaverton, OR area | OR | +1.2% | +23.5% | +325% |
| 972 · Portland, OR area | OR | +1.2% | +15.2% | +401% |
| 986 · Vancouver, WA area | WA | +2.0% | +31.1% | +339% |
| 974 · Eugene, OR area | OR | +3.6% | +28.9% | +316% |
| 977 · Bend, OR area | OR | +0.7% | +29.7% | +457% |
Recent quarterly index values
| Period | Index |
|---|---|
| Q2 2026 | 421.54 |
| Q1 2026 | 420.29 |
| Q4 2025 | 415.87 |
| Q3 2025 | 413.03 |
| Q2 2025 | 419.59 |
| Q1 2025 | 405.95 |
| Q4 2024 | 407.33 |
| Q3 2024 | 406.03 |
| Q2 2024 | 402.00 |
| Q1 2024 | 396.35 |
| Q4 2023 | 393.99 |
| Q3 2023 | 395.18 |
Frequently asked questions
- How much have home prices risen in ZIP codes starting with 973?
- Based on FHFA HPI® data for 3-digit ZIP region 973, the regional index changed +0.5% over the year to Q2 2026, +29.7% over five years, +108% over ten years, and +322% since Q1 1995.
- Is ZIP3 973 appreciating faster than Oregon and the U.S.?
- Over the past year the region's index +0.5% compares with +1.6% for Oregon and +3.0% for the U.S., a gap of −2.6 pts versus the nation. Over five years the gap versus the nation is −11.6 pts.
- Which ZIP codes are in 3-digit ZIP region 973?
- All ZIP codes that begin with 973. Census 2010 ZIP Code Tabulation Areas in this region run from 97301 to 97396 (62 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.