3-digit ZIP regional index
Home appreciation in ZIP codes 977xxBend, OR area
FHFA HPI® data shows the regional home price index for ZIP codes beginning with 977 changed +0.7% over the year to Q2 2026, compared with +1.6% for Oregon and +3.0% for the United States.
The region covers ZIP codes 97701–97761. Most of its 2010 population lived in Deschutes County (74%), Jefferson County (10%), Crook County (10%). Communities in the region include Redmond, Prineville, Madras, Deschutes River Woods, Three Rivers. This is a regional index, not a ZIP5, street, or individual-home estimate.
- 1-year change
- +0.7%
- 5-year change
- +29.7%
- Since Q1 1995
- +457%
- National rank (1 year)
- 779th
Year to Q2 2026
vs U.S. +41.3%
vs U.S. +292%
of 882 ZIP3 regions
ZIP3 977 vs Oregon and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- ZIP3 977: 556.7
- Oregon: 447.6
- Bend, OR metro: 558.0
- United States: 391.6
Want a different starting year? Rebase this chart or compare with another ZIP3.
Appreciation by time window
| Window | ZIP3 977 | OR | U.S. | Gap vs OR | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +0.7% | +1.6% | +3.0% | −0.9 pts | −2.3 pts |
| 3 years | +6.3% | +6.0% | +12.9% | +0.3 pts | −6.5 pts |
| 5 years | +29.7% | +23.8% | +41.3% | +5.9 pts | −11.6 pts |
| 10 years | +112% | +80.0% | +93.3% | +32.0 pts | +18.7 pts |
| Since Q1 1995 | +457% | +348% | +292% | +109.1 pts | +165.1 pts |
If you bought in ZIP3 977 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 | +448% | $1,643,490 |
| Q2 2000 | +326% | $1,278,284 |
| Q2 2005 | +173% | $818,563 |
| Q2 2010 | +236% | $1,007,937 |
| Q2 2015 | +134% | $702,250 |
| Q2 2020 | +58.3% | $474,890 |
| Q2 2021 | +29.7% | $389,157 |
| Q2 2023 | +6.3% | $318,979 |
| Q2 2025 | +0.7% | $302,226 |
How ZIP3 977 ranks
Over the past year ZIP3 977 ranks 779th of 882 3-digit ZIP regions nationally and 9th of 10 in Oregon. Its one-year change is −2.3 pts versus the nation and −0.9 pts versus Oregon. Rank 1 is the strongest appreciation.
| Window | National rank | Rank in Oregon |
|---|---|---|
| 1 year | 779th of 882 | 9th of 10 |
| 3 years | 806th of 882 | 8th of 10 |
| 5 years | 792nd of 882 | 4th of 10 |
| 10 years | 161st of 882 | 1st of 10 |
| Since Q1 1995 | 39th of 879 | 1st of 10 |
Boom, bust, and recovery in ZIP3 977
ZIP3 977's index peaked in Q1 2007, fell 46.4% to its low in Q2 2011, and regained its peak in Q2 2017, about 10.2 years after the top. Today it sits +92.3% 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 977 | Q1 2007 | Q2 2011 | -46.4% | Q2 2017 (10.2 yrs) | +92.3% |
| OR | Q2 2007 | Q2 2012 | -26.0% | Q1 2016 (8.8 yrs) | +87.0% |
| Metro | Q1 2007 | Q2 2011 | -46.8% | Q2 2017 (10.2 yrs) | +91.4% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, ZIP3 977's index has changed +151% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | ZIP3 977 after inflation | OR after inflation | Metro after inflation | U.S. after inflation |
|---|---|---|---|---|---|
| 1 year | +3.9% | -3.0% | -2.1% | -3.1% | -0.8% |
| 3 years | +9.8% | -3.2% | -3.5% | -3.5% | +2.8% |
| 5 years | +24.0% | +4.6% | -0.1% | +4.2% | +13.9% |
| 10 years | +39.1% | +52.4% | +29.4% | +52.0% | +39.0% |
| Since Q1 1995 | +121% | +151% | +102% | +152% | +76.8% |
Estimate appreciation for a home in ZIP3 977
Regional estimate
$636,026
- Estimated gain
- $336,026
- Index change
- +112%
- Start index
- 262.56
- End index
- 556.65
ZIP3 977 (Bend, 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 |
|---|---|---|---|---|
| 973 · Salem, OR area | OR | +0.5% | +29.7% | +322% |
| 974 · Eugene, OR area | OR | +3.6% | +28.9% | +316% |
| 970 · Beaverton, OR area | OR | +1.2% | +23.5% | +325% |
| 972 · Portland, OR area | OR | +1.2% | +15.2% | +401% |
| 976 · Klamath Falls, OR area | OR | +3.0% | +35.6% | +328% |
| 986 · Vancouver, WA area | WA | +2.0% | +31.1% | +339% |
Recent quarterly index values
| Period | Index |
|---|---|
| Q2 2026 | 556.65 |
| Q1 2026 | 549.19 |
| Q4 2025 | 553.82 |
| Q3 2025 | 554.10 |
| Q2 2025 | 552.55 |
| Q1 2025 | 546.67 |
| Q4 2024 | 541.41 |
| Q3 2024 | 543.34 |
| Q2 2024 | 551.06 |
| Q1 2024 | 536.90 |
| Q4 2023 | 526.08 |
| Q3 2023 | 531.16 |
Frequently asked questions
- How much have home prices risen in ZIP codes starting with 977?
- Based on FHFA HPI® data for 3-digit ZIP region 977, the regional index changed +0.7% over the year to Q2 2026, +29.7% over five years, +112% over ten years, and +457% since Q1 1995.
- Is ZIP3 977 appreciating faster than Oregon and the U.S.?
- Over the past year the region's index +0.7% compares with +1.6% for Oregon and +3.0% for the U.S., a gap of −2.3 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 977?
- All ZIP codes that begin with 977. Census 2010 ZIP Code Tabulation Areas in this region run from 97701 to 97761 (30 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.