If U.S. house prices had applied to $10,000 starting in 2006
$10,000 in U.S. house prices (FHFA HPI) in Jan 2006 would be worth $20,665 by Aug 2026 (2.07×, 3.6% a year).
Data: FHFA HPI® (Purchase-Only, NSA); inflation: BLS CPI-U. Historical illustration, not financial advice; ignores fees, storage and taxes. Details
Why this start year
January 2006 sits near the peak of the mid-2000s housing cycle in national prices. Starting the same official FHFA Purchase-Only U.S. index here, instead of in 2000, is a deliberately less favorable entry into the same series.
The following years include the housing crash and the long recovery that followed. As on the 2000 page, this is an unlevered index path, not a mortgage, and not the sale of a specific property. Comparing the two start dates is the point: the same official index, the same method, two very different histories.
The official FHFA House Price Index®, Purchase-Only, United States, not seasonally adjusted, monthly. It is a constant-quality repeat-sales index (January 1991 = 100), not a median sale price and not the value of any particular house. It does not include leverage, upkeep, property taxes, insurance, selling costs, or rent.
Frequently asked questions
How much would $10,000 in U.S. house prices (FHFA HPI) in 2006 be worth now?
About $20,665 as of Aug 2026 (2.07×, 3.6% CAGR), using the official series cited below.
What about $1,000 instead of $10,000?
About $2,066 as of Aug 2026. For a lump sum with no contributions, the multiple is the same (2.07×).
How much of that is inflation?
In Jan 2006 dollars the ending value is about $12,233 (1.22× after CPI-U). Consumer prices rose 1.69× over the span.
Sources & caveats
Not financial advice. This is a historical thought experiment, not a recommendation to buy or sell anything. Past performance is not indicative of future results. Figures use the official FHFA House Price Index® (Purchase-Only, not seasonally adjusted, U.S.). This is a constant-quality index, not the price of any particular house, and it ignores mortgage leverage, maintenance, taxes, insurance, transaction costs, and rental income. A real investment would have returned something different.
- Source: FHFA HPI® (Purchase-Only, not seasonally adjusted, nominal), United States monthly index. This site is not endorsed or certified by FHFA.
- License and terms: Official FHFA FAQ: the FHFA HPI data are freely available for download. Suggested citation: “Source: FHFA HPI® (Purchase-Only, not seasonally adjusted, nominal).” “FHFA HPI®” and “FHFA House Price Index®” are registered trademarks and must not be used to imply FHFA endorsement.
- Series window used here: Jan 2006 through Aug 2026.