If I invested $10,000 in U.S. house prices (FHFA HPI) in Jan 2015
It would be worth $21,691 by Aug 2026 — 2.17×, or 6.9% a year.
Data: FHFA HPI® (Purchase-Only, NSA); inflation: BLS CPI-U. Historical illustration, not financial advice; ignores fees, storage and taxes. Details
How to read this example
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. In this example, $10,000 bought 48.1533 index units at the Jan 2015 level of 207.67. At the Aug 2026 level of 450.45, that quantity is worth $21,691. In Jan 2015 dollars, that is about $15,133 (1.51× after inflation).
Start-year stories for U.S. house prices (FHFA HPI):
Frequently asked questions
How much would $10,000 in U.S. house prices (FHFA HPI) in Jan 2015 be worth now?
About $21,691 as of Aug 2026, which is 2.17 times the original amount, or a 116.9% total return (6.9% annualized). That uses the official series cited below and ignores costs and taxes.
What is that in Jan 2015 dollars?
About $15,133, after adjusting with BLS CPI-U. Consumer prices rose 1.43× over the span, so the real multiple is 1.51× (3.6% real CAGR).
What if I had invested $10,000 in January 2000?
About $32,947 as of Aug 2026 (3.29×, 4.6% CAGR), on the same method.
What if I also added $100 a month starting after Jan 2015?
You would have contributed $23,900 in total, and the holding would be worth about $42,155 as of Aug 2026 (1.76× the money put in; money-weighted return 6.8%). Contributions are applied at each later monthly observation.
Is this the same as buying an ETF or a house?
No. This page moves a notional amount with the national FHFA Purchase-Only index. It is not a specific property, a REIT, or a leveraged mortgage.
Sources, formula & 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.
Start month is the first observation on or after the date you enter. Years use a 365.25-day convention. Inflation uses BLS CPI-U, all items, not seasonally adjusted.
- 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.
- File: https://www.fhfa.gov/hpi/download/monthly/hpi_master.csv.
- Series in this file: Jan 1991 through Aug 2026 (428 months). Fetched 2026-11-10.