3-digit ZIP regional index
Home appreciation in ZIP codes 985xxOlympia, WA area
FHFA HPI® data shows the regional home price index for ZIP codes beginning with 985 changed +2.3% over the year to Q2 2026, compared with +1.1% for Washington and +3.0% for the United States.
The region covers ZIP codes 98501–98597. Most of its 2010 population lived in Thurston County (53%), Grays Harbor County (15%), Lewis County (14%). Communities in the region include Lacey, Tumwater, Aberdeen, Centralia, Shelton. This is a regional index, not a ZIP5, street, or individual-home estimate.
- 1-year change
- +2.3%
- 5-year change
- +32.9%
- Since Q1 1995
- +323%
- National rank (1 year)
- 635th
Year to Q2 2026
vs U.S. +41.3%
vs U.S. +292%
of 882 ZIP3 regions
ZIP3 985 vs Washington and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- ZIP3 985: 422.5
- Washington: 486.5
- Olympia-Lacey-Tumwater, WA metro: 423.5
- United States: 391.6
Want a different starting year? Rebase this chart or compare with another ZIP3.
Appreciation by time window
| Window | ZIP3 985 | WA | U.S. | Gap vs WA | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +2.3% | +1.1% | +3.0% | +1.2 pts | −0.8 pts |
| 3 years | +8.6% | +8.2% | +12.9% | +0.4 pts | −4.2 pts |
| 5 years | +32.9% | +29.7% | +41.3% | +3.1 pts | −8.4 pts |
| 10 years | +126% | +105% | +93.3% | +21.4 pts | +32.9 pts |
| Since Q1 1995 | +323% | +387% | +292% | −64.0 pts | +31.0 pts |
If you bought in ZIP3 985 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 | +322% | $1,266,800 |
| Q2 2000 | +268% | $1,103,954 |
| Q2 2005 | +151% | $754,231 |
| Q2 2010 | +127% | $682,475 |
| Q2 2015 | +141% | $723,204 |
| Q2 2020 | +59.2% | $477,568 |
| Q2 2021 | +32.9% | $398,604 |
| Q2 2023 | +8.6% | $325,893 |
| Q2 2025 | +2.3% | $306,752 |
How ZIP3 985 ranks
Over the past year ZIP3 985 ranks 635th of 882 3-digit ZIP regions nationally and 3rd of 14 in Washington. Its one-year change is −0.8 pts versus the nation and +1.2 pts versus Washington. Rank 1 is the strongest appreciation.
| Window | National rank | Rank in Washington |
|---|---|---|
| 1 year | 635th of 882 | 3rd of 14 |
| 3 years | 756th of 882 | 7th of 14 |
| 5 years | 759th of 882 | 6th of 14 |
| 10 years | 59th of 882 | 3rd of 14 |
| Since Q1 1995 | 233rd of 879 | 9th of 14 |
Boom, bust, and recovery in ZIP3 985
ZIP3 985's index peaked in Q1 2008, fell 25.1% to its low in Q3 2013, and regained its peak in Q4 2017, about 9.8 years after the top. Today it sits +95.9% 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 985 | Q1 2008 | Q3 2013 | -25.1% | Q4 2017 (9.8 yrs) | +95.9% |
| WA | Q4 2007 | Q2 2012 | -25.2% | Q2 2016 (8.5 yrs) | +106% |
| Metro | Q1 2008 | Q3 2012 | -24.6% | Q3 2017 (9.5 yrs) | +93.0% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, ZIP3 985's index has changed +90.8% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | ZIP3 985 after inflation | WA after inflation | Metro after inflation | U.S. after inflation |
|---|---|---|---|---|---|
| 1 year | +3.9% | -1.6% | -2.7% | -0.9% | -0.8% |
| 3 years | +9.8% | -1.1% | -1.4% | +0.0% | +2.8% |
| 5 years | +24.0% | +7.1% | +4.6% | +6.2% | +13.9% |
| 10 years | +39.1% | +62.7% | +47.3% | +56.2% | +39.0% |
| Since Q1 1995 | +121% | +90.8% | +120% | +91.3% | +76.8% |
Estimate appreciation for a home in ZIP3 985
Regional estimate
$678,711
- Estimated gain
- $378,711
- Index change
- +126%
- Start index
- 186.76
- End index
- 422.52
ZIP3 985 (Olympia, WA 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 |
|---|---|---|---|---|
| 984 · Tacoma, WA area | WA | +3.1% | +27.9% | +422% |
| 983 · Bremerton, WA area | WA | +0.3% | +29.4% | +347% |
| 981 · Seattle, WA area | WA | +0.3% | +20.2% | +493% |
| 980 · Bellevue, WA area | WA | +0.1% | +31.0% | +439% |
| 986 · Vancouver, WA area | WA | +2.0% | +31.1% | +339% |
| 982 · Everett, WA area | WA | +0.8% | +33.6% | +377% |
Recent quarterly index values
| Period | Index |
|---|---|
| Q2 2026 | 422.52 |
| Q1 2026 | 421.59 |
| Q4 2025 | 422.85 |
| Q3 2025 | 423.11 |
| Q2 2025 | 413.22 |
| Q1 2025 | 407.03 |
| Q4 2024 | 407.52 |
| Q3 2024 | 410.10 |
| Q2 2024 | 400.42 |
| Q1 2024 | 393.62 |
| Q4 2023 | 388.65 |
| Q3 2023 | 390.79 |
Frequently asked questions
- How much have home prices risen in ZIP codes starting with 985?
- Based on FHFA HPI® data for 3-digit ZIP region 985, the regional index changed +2.3% over the year to Q2 2026, +32.9% over five years, +126% over ten years, and +323% since Q1 1995.
- Is ZIP3 985 appreciating faster than Washington and the U.S.?
- Over the past year the region's index +2.3% compares with +1.1% for Washington and +3.0% for the U.S., a gap of −0.8 pts versus the nation. Over five years the gap versus the nation is −8.4 pts.
- Which ZIP codes are in 3-digit ZIP region 985?
- All ZIP codes that begin with 985. Census 2010 ZIP Code Tabulation Areas in this region run from 98501 to 98597 (63 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.