Home values fell in 3,491 of 13,130 ZIPs, year to Sep 2026
Over the year to September 2026, typical home values fell in 3,491 of the 13,130 scored ZIPs with 5,000 or more residents, according to Zillow (ZHVI).
By the HavenScore Editorial Team
Over the year to September 2026, typical home values fell in 3,491 of the 13,130 scored ZIPs with 5,000 or more residents, according to Zillow (ZHVI).
The typical home value is Zillow's home value index for a ZIP code: what a home in the middle of the ZIP's range of values is worth, smoothed and adjusted for the season.
For the median U.S. ZIP, the typical home value rose 2.8% over the year to September 2026 (based on Zillow ZIP-level data).
How the list is built
The two lists take the 5 steepest 12-month falls and the 5 strongest 12-month gains in typical home value over the year to September 2026, among scored ZIPs with 5,000 or more residents and a city on record, according to Zillow (ZHVI).
The lists rank ZIP codes by the change in their typical home value over the year, from Zillow's home value index. A ZIP is ranked only when it meets the population floor and has a city on record, so the lists leave out very small ZIPs.
Where values fell
On the list of steepest falls, the largest change over the year to September 2026 was in Carlsbad, CA (92008): a fall of 28.3%, according to Zillow (ZHVI).
Salyersville, KY (41465) had the smallest 12-month change on the list of steepest falls: a fall of 21.6% over the year to September 2026.
| ZIP | Place | 12-month change |
|---|---|---|
| 92008 | Carlsbad, CA | −28.3% |
| 71040 | Homer, LA | −26.1% |
| 42211 | Cadiz, KY | −24.5% |
| 40977 | Pineville, KY | −21.8% |
| 41465 | Salyersville, KY | −21.6% |
| 79201 | Childress, TX | +26.0% |
| 71052 | Mansfield, LA | +22.7% |
| 39367 | Waynesboro, MS | +21.8% |
| 94118 | San Francisco, CA | +21.7% |
| 94114 | San Francisco, CA | +21.6% |
Zillow (ZHVI) · year to September 2026
Where values rose
On the list of strongest gains, the largest change over the year to September 2026 was in Childress, TX (79201): a rise of 26.0%, according to Zillow (ZHVI).
San Francisco, CA (94114) had the smallest 12-month change on the list of strongest gains: a rise of 21.6% over the year to September 2026.
By region
| Area | Scored ZIPs | Typical home value, Sep 2026 | 1-year change in typical home value, year to Sep 2026 |
|---|---|---|---|
| West | 4,213 | $721,000 | +0.7% |
| South | 9,111 | $342,000 | +0.3% |
| Midwest | 7,920 | $295,000 | +3.6% |
| Northeast | 5,053 | $559,000 | +3.6% |
| U.S. (all scored ZIPs) | 26,297 | $459,000 | +1.6% |
based on Zillow ZIP-level data · September 2026
The regions are the four Census regions, which group the states and the District of Columbia as the Census Bureau defines them. Each region's figures cover the scored ZIP codes in its states.
Regional and U.S. figures in the table are averages across scored ZIP codes, weighted by population, so each ZIP counts in proportion to its residents. They are not national series, so the U.S. row can differ from a median or a national figure for the same month.
Among the four Census regions, the Midwest and the Northeast shared the highest average 1-year change in typical home value over the year to September 2026: a rise of 3.6% each, across their 7,920 and 5,053 scored ZIPs, weighted by population (based on Zillow ZIP-level data).
Among the four Census regions, the lowest average 1-year change in typical home value over the year to September 2026 was in the South: a rise of 0.3% across its 9,111 scored ZIPs, weighted by population.
How to read these figures
Each figure here names its own week or month, since each source publishes on its own schedule. A figure describes that period, not the date this article was published.
Home values fell in 3,590 of 13,129 ZIPs, year to Aug 2026
In 3,590 of the 13,129 scored ZIPs with 5,000 or more residents, typical home values fell over the year to August 2026, according to Zillow (ZHVI).
Home prices fell 28% in Pineville, KY, rose 24% in Crystal City, TX
Kentucky dominated the biggest price drops while Texas led gains, with swings ranging from -28% to +24% across communities with 5,000+ residents.
Wage Growth Outpaces Home Prices, But Affordability Gaps Persist
While national wage growth is outpacing home price increases for the first time in years, affordability challenges persist in markets with extreme price-to-income ratios.
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