3-digit ZIP regional index
Home appreciation in ZIP codes 997xxFairbanks, AK area
FHFA HPI® data shows the regional home price index for ZIP codes beginning with 997 changed +2.8% over the year to Q2 2026, compared with +3.9% for Alaska and +3.0% for the United States.
The region covers ZIP codes 99701–99791. Most of its 2010 population lived in Fairbanks North Star Borough (73%), Nome Census Area (6%), North Slope Borough (6%). Communities in the region include Badger, College, Steele Creek, Chena Ridge, Farmers Loop. This is a regional index, not a ZIP5, street, or individual-home estimate.
- 1-year change
- +2.8%
- 5-year change
- +32.5%
- Since Q1 1995
- +195%
- National rank (1 year)
- 582nd
Year to Q2 2026
vs U.S. +41.3%
vs U.S. +292%
of 882 ZIP3 regions
ZIP3 997 vs Alaska and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- ZIP3 997: 295.4
- Alaska: 339.5
- United States: 391.6
Want a different starting year? Rebase this chart or compare with another ZIP3.
Appreciation by time window
| Window | ZIP3 997 | AK | U.S. | Gap vs AK | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +2.8% | +3.9% | +3.0% | −1.1 pts | −0.2 pts |
| 3 years | +14.3% | +14.2% | +12.9% | +0.2 pts | +1.5 pts |
| 5 years | +32.5% | +37.0% | +41.3% | −4.5 pts | −8.8 pts |
| 10 years | +56.8% | +58.0% | +93.3% | −1.2 pts | −36.5 pts |
| Since Q1 1995 | +195% | +239% | +292% | −44.0 pts | −96.1 pts |
If you bought in ZIP3 997 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 | +192% | $875,724 |
| Q2 2000 | +154% | $762,885 |
| Q2 2005 | +86.3% | $558,910 |
| Q2 2010 | +65.9% | $497,625 |
| Q2 2015 | +61.0% | $482,982 |
| Q2 2020 | +41.8% | $425,502 |
| Q2 2021 | +32.5% | $397,489 |
| Q2 2023 | +14.3% | $342,950 |
| Q2 2025 | +2.8% | $308,457 |
How ZIP3 997 ranks
Over the past year ZIP3 997 ranks 582nd of 882 3-digit ZIP regions nationally and 2nd of 5 in Alaska. Its one-year change is −0.2 pts versus the nation and −1.1 pts versus Alaska. Rank 1 is the strongest appreciation.
| Window | National rank | Rank in Alaska |
|---|---|---|
| 1 year | 582nd of 882 | 2nd of 5 |
| 3 years | 505th of 882 | 2nd of 5 |
| 5 years | 765th of 882 | 5th of 5 |
| 10 years | 831st of 882 | 4th of 5 |
| Since Q1 1995 | 801st of 879 | 5th of 5 |
Boom, bust, and recovery in ZIP3 997
ZIP3 997's index peaked in Q1 2008, fell 4.4% to its low in Q1 2010, and regained its peak in Q1 2013, about 5 years after the top. Today it sits +63.6% 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 997 | Q1 2008 | Q1 2010 | -4.4% | Q1 2013 (5 yrs) | +63.6% |
| AK | Q2 2007 | Q1 2010 | -2.7% | Q4 2012 (5.5 yrs) | +73.8% |
| Metro | Q1 2008 | Q1 2010 | -4.4% | Q1 2013 (5 yrs) | +63.6% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, ZIP3 997's index has changed +33.4% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | ZIP3 997 after inflation | AK after inflation | Metro after inflation | U.S. after inflation |
|---|---|---|---|---|---|
| 1 year | +3.9% | -1.0% | +0.0% | -1.0% | -0.8% |
| 3 years | +9.8% | +4.1% | +4.0% | +4.1% | +2.8% |
| 5 years | +24.0% | +6.8% | +10.5% | +6.8% | +13.9% |
| 10 years | +39.1% | +12.7% | +13.6% | +12.7% | +39.0% |
| Since Q1 1995 | +121% | +33.4% | +53.3% | +33.4% | +76.8% |
Estimate appreciation for a home in ZIP3 997
Regional estimate
$470,346
- Estimated gain
- $170,346
- Index change
- +56.78%
- Start index
- 188.44
- End index
- 295.44
ZIP3 997 (Fairbanks, AK area), Q2 2016 to Q2 2026. Index type: MSA/MSAD Index.
Nearby 3-digit ZIP regions
| 3-digit ZIP region | State | 1 year | 5 years | Since Q1 1995 |
|---|---|---|---|---|
| 995 · Anchorage, AK area | AK | +6.2% | +35.9% | +243% |
| 996 · Wasilla, AK area | AK | +0.1% | +40.3% | +247% |
| 998 · Juneau, AK area | AK | +0.6% | +38.0% | +240% |
| 999 · Ketchikan, AK area | AK | +0.6% | +38.0% | +240% |
| 982 · Everett, WA area | WA | +0.8% | +33.6% | +377% |
| 981 · Seattle, WA area | WA | +0.3% | +20.2% | +493% |
Recent quarterly index values
| Period | Index |
|---|---|
| Q2 2026 | 295.44 |
| Q1 2026 | 303.67 |
| Q4 2025 | 289.15 |
| Q3 2025 | 288.30 |
| Q2 2025 | 287.34 |
| Q1 2025 | 291.74 |
| Q4 2024 | 270.67 |
| Q3 2024 | 274.92 |
| Q2 2024 | 270.87 |
| Q1 2024 | 269.76 |
| Q4 2023 | 259.56 |
| Q3 2023 | 262.80 |
Frequently asked questions
- How much have home prices risen in ZIP codes starting with 997?
- Based on FHFA HPI® data for 3-digit ZIP region 997, the regional index changed +2.8% over the year to Q2 2026, +32.5% over five years, +56.8% over ten years, and +195% since Q1 1995.
- Is ZIP3 997 appreciating faster than Alaska and the U.S.?
- Over the past year the region's index +2.8% compares with +3.9% for Alaska and +3.0% for the U.S., a gap of −0.2 pts versus the nation. Over five years the gap versus the nation is −8.8 pts.
- Which ZIP codes are in 3-digit ZIP region 997?
- All ZIP codes that begin with 997. Census 2010 ZIP Code Tabulation Areas in this region run from 99701 to 99791 (75 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.