3-digit ZIP regional index
Home appreciation in ZIP codes 988xxWenatchee, WA area
FHFA HPI® data shows the regional home price index for ZIP codes beginning with 988 changed +0.7% over the year to Q2 2026, compared with +1.1% for Washington and +3.0% for the United States.
The region covers ZIP codes 98801–98862. Most of its 2010 population lived in Chelan County (33%), Grant County (32%), Okanogan County (17%). Communities in the region include Moses Lake, East Wenatchee, Ephrata, Quincy, Omak. This is a regional index, not a ZIP5, street, or individual-home estimate.
- 1-year change
- +0.7%
- 5-year change
- +36.0%
- Since Q1 1995
- +322%
- National rank (1 year)
- 784th
Year to Q2 2026
vs U.S. +41.3%
vs U.S. +292%
of 882 ZIP3 regions
ZIP3 988 vs Washington and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- ZIP3 988: 422.1
- Washington: 486.5
- Wenatchee-East Wenatchee, WA metro: 431.6
- United States: 391.6
Want a different starting year? Rebase this chart or compare with another ZIP3.
Appreciation by time window
| Window | ZIP3 988 | WA | U.S. | Gap vs WA | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +0.7% | +1.1% | +3.0% | −0.4 pts | −2.4 pts |
| 3 years | +10.1% | +8.2% | +12.9% | +1.8 pts | −2.8 pts |
| 5 years | +36.0% | +29.7% | +41.3% | +6.3 pts | −5.3 pts |
| 10 years | +112% | +105% | +93.3% | +6.6 pts | +18.2 pts |
| Since Q1 1995 | +322% | +387% | +292% | −64.4 pts | +30.5 pts |
If you bought in ZIP3 988 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 | +309% | $1,227,661 |
| Q2 2000 | +275% | $1,124,221 |
| Q2 2005 | +196% | $888,506 |
| Q2 2010 | +127% | $680,210 |
| Q2 2015 | +121% | $663,945 |
| Q2 2020 | +59.2% | $477,491 |
| Q2 2021 | +36.0% | $408,073 |
| Q2 2023 | +10.1% | $330,241 |
| Q2 2025 | +0.7% | $302,011 |
How ZIP3 988 ranks
Over the past year ZIP3 988 ranks 784th of 882 3-digit ZIP regions nationally and 10th of 14 in Washington. Its one-year change is −2.4 pts versus the nation and −0.4 pts versus Washington. Rank 1 is the strongest appreciation.
| Window | National rank | Rank in Washington |
|---|---|---|
| 1 year | 784th of 882 | 10th of 14 |
| 3 years | 713th of 882 | 2nd of 14 |
| 5 years | 698th of 882 | 3rd of 14 |
| 10 years | 170th of 882 | 8th of 14 |
| Since Q1 1995 | 242nd of 879 | 10th of 14 |
Boom, bust, and recovery in ZIP3 988
ZIP3 988's index peaked in Q4 2008, fell 16.8% to its low in Q2 2012, and regained its peak in Q3 2016, about 7.8 years after the top. Today it sits +106% 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 988 | Q4 2008 | Q2 2012 | -16.8% | Q3 2016 (7.8 yrs) | +106% |
| WA | Q4 2007 | Q2 2012 | -25.2% | Q2 2016 (8.5 yrs) | +106% |
| Metro | Q4 2007 | Q3 2012 | -18.6% | Q3 2016 (8.8 yrs) | +106% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, ZIP3 988's index has changed +90.6% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | ZIP3 988 after inflation | WA after inflation | Metro after inflation | U.S. after inflation |
|---|---|---|---|---|---|
| 1 year | +3.9% | -3.1% | -2.7% | -6.0% | -0.8% |
| 3 years | +9.8% | +0.3% | -1.4% | -1.0% | +2.8% |
| 5 years | +24.0% | +9.7% | +4.6% | +7.7% | +13.9% |
| 10 years | +39.1% | +52.1% | +47.3% | +50.2% | +39.0% |
| Since Q1 1995 | +121% | +90.6% | +120% | +95.0% | +76.8% |
Estimate appreciation for a home in ZIP3 988
Regional estimate
$634,501
- Estimated gain
- $334,501
- Index change
- +112%
- Start index
- 199.56
- End index
- 422.07
ZIP3 988 (Wenatchee, 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 |
|---|---|---|---|---|
| 989 · Yakima, WA area | WA | +1.5% | +32.7% | +267% |
| 993 · Kennewick, WA area | WA | +2.0% | +33.4% | +293% |
| 991 · Pullman, WA area | WA | +0.7% | +37.3% | +290% |
| 980 · Bellevue, WA area | WA | +0.1% | +31.0% | +439% |
| 981 · Seattle, WA area | WA | +0.3% | +20.2% | +493% |
| 990 · Spokane Valley, WA area | WA | +1.0% | +28.8% | +310% |
Recent quarterly index values
| Period | Index |
|---|---|
| Q2 2026 | 422.07 |
| Q1 2026 | 418.31 |
| Q4 2025 | 419.35 |
| Q3 2025 | 412.25 |
| Q2 2025 | 419.26 |
| Q1 2025 | 403.75 |
| Q4 2024 | 404.94 |
| Q3 2024 | 413.63 |
| Q2 2024 | 401.73 |
| Q1 2024 | 390.16 |
| Q4 2023 | 390.95 |
| Q3 2023 | 386.41 |
Frequently asked questions
- How much have home prices risen in ZIP codes starting with 988?
- Based on FHFA HPI® data for 3-digit ZIP region 988, the regional index changed +0.7% over the year to Q2 2026, +36.0% over five years, +112% over ten years, and +322% since Q1 1995.
- Is ZIP3 988 appreciating faster than Washington and the U.S.?
- Over the past year the region's index +0.7% compares with +1.1% for Washington and +3.0% for the U.S., a gap of −2.4 pts versus the nation. Over five years the gap versus the nation is −5.3 pts.
- Which ZIP codes are in 3-digit ZIP region 988?
- All ZIP codes that begin with 988. Census 2010 ZIP Code Tabulation Areas in this region run from 98801 to 98862 (45 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.