The Home Price Index: U.S. Typical Home Value Hit $357K in 2026 — Up 56% From 2019
U.S. typical home value (Zillow ZHVI, all homes, middle tier) — up 56% from 2019, with a peak in 2022 and a plateau since.
The Zillow ZHVI typical U.S. home value in January 2026 was $357,000 — 56% above the $229,000 level in 2019, despite modest cooling from the 2022 peak.
Then
2019
$229,000
Now
2026
$357,000
Change
2019–2026
+56%
↑ Rising
The Home Price Index: 2015–2026
U.S. typical home value (Zillow Home Value Index, middle tier, seasonally adjusted)
Source: Zillow Home Value Index (ZHVI), All Homes, Middle Tierkeepingupwithinflation.com
Historical Datakeepingupwithinflation.com
| Year | Price | YoY Change |
|---|---|---|
| 2015 | $178,400 | — |
| 2016 | $189,400 | +6.2% |
| 2017 | $201,800 | +6.5% |
| 2018 | $216,500 | +7.3% |
| 2019 | $229,000 | +5.8% |
| 2020 | $254,000 | +10.9% |
| 2021 | $303,000 | +19.3% |
| 2022 | $357,000 | +17.8% |
| 2023 | $340,000 | -4.8% |
| 2024 | $344,000 | +1.2% |
| 2025 | $356,000 | +3.5% |
| 2026 | $357,000 | +0.3% |
Analysis
Home prices have surged since 2019, driven by record-low mortgage rates during the pandemic, a historic shortage of housing inventory, and demographic demand from millennials entering peak homebuying years. The Zillow Home Value Index (ZHVI) — which measures the typical home value for the middle tier of the market — rose from $229,000 in 2019 to a peak of $357,000 by 2022, a 56% increase in just three years.
Unlike many other inflation categories, home prices have barely corrected. After a brief dip in 2023, values have stabilized near the 2022 highs. The "lock-in effect" — where existing homeowners with 3% mortgages refuse to sell into a 7% rate environment — has kept inventory historically tight, preventing the kind of price correction many expected when rates rose.
The result is a market that's unaffordable for first-time buyers but stable for existing homeowners. At current mortgage rates (~6.5-7%), a $357,000 home requires a monthly payment roughly 75% higher than the same home would have cost in 2019 at 3.5% rates. That payment shock, not just the price increase, is the real housing inflation story.
For state-by-state data, see our Home Prices by State page with interactive maps. Data: Zillow Research ZHVI (All Homes, Middle Tier, Seasonally Adjusted).