Massachusetts · 1 county · 164,065 residents (2025 est.)
FHFA quarterly index through 2026 Q2Annual index 1978–2025Permits through August 2026
Amherst Town-Northampton (100 = first year)United States, rebased to the same startNBER recession
FHFA notes: The FHFA HPI is a broad measure of the movement of single-family house prices. The FHFA HPI is a weighted, repeat-sales index, meaning that it measures average price changes in repeat sales or refinancings on the same properties. The line above is FHFA's standard quarterly all-transactions index for the metropolitan area; the comparison table below uses FHFA's annual CBSA index, which FHFA describes as developmental. The index does not give a dollar value for any home.
The Amherst Town-Northampton, MA metropolitan area covers 1 county. Its FHFA house price index, starting in 1978, stood at 1108 in 2025, +1008.4% above the base of 100.
The standard quarterly index for the area, published through 2026 Q2, is +2.4% on a year earlier and +1.8% on the previous quarter.
Over the ten years to 2025 the annual index rose +77.7% (+5.9% a year), below Massachusetts at +87.1% and below the national +85.0%.
From a 2007 peak the index fell −10.6% to 2012, regaining the peak in 2018.
Across its counties, 387 housing units were authorised in the 12 months to August 2026, 2.4 per 1,000 residents, +49.4% on the previous 12 months.
+2.4%year to 2026 Q2, quarterly indexUS +3.0%
+6.0%1 year, 2024–2025US +2.8%
+51.8%5 yearsUS +47.0%
+77.7%10 years+5.9% a year annualised
+181.4%since 2000US +158.3%
387units permitted, 12 months2.4 per 1,000 residents
FHFA annual all-transactions indexes over identical years.
Decade by decade
Decade
Change
United States
1980s (1980–1990)
+181.6%
+68.2%
1990s (1990–2000)
+13.7%
+33.9%
2000s (2000–2010)
+58.1%
+29.7%
2010s (2010–2020)
+17.3%
+35.5%
2020s so far (2020–2025)
+51.8%
+47.0%
FHFA reports each index with a value of 100 in its base period, the first year the area has enough transactions (1978 here). A decade's change is the index at the end of the decade divided by the index at the start, so it does not depend on the base year; the United States column covers the same years. Decades before 1978 are not shown.
Peak-to-low declines
Peak
Low
Decline
Peak regained
2007
2012
−10.6%
2018
1989
1994
−7.0%
1998
Building permits across the area
Housing units authorised in the area's county (OMB July 2023 delineations), summed from county files.
Housing units authorised in the Amherst Town-Northampton, MA area by month, latest 12 monthssingle-family2+ unit buildings
Housing units authorised in the Amherst Town-Northampton, MA area by month, latest 60 monthssingle-family2+ unit buildings
Housing units authorised in the Amherst Town-Northampton, MA area by year, 1995–2025single-family2+ unit buildings
Permits, 12 months to August 2026
This area
Massachusetts
United States
Housing units authorised
387
13,778
1,418,086
Units per 1,000 residents
2.4
1.9
4.1
Single-family share
27%
38%
63%
Change on previous 12 months
+49.4%
+16.2%
−0.1%
Counties in the area
Ranked by ten-year change in FHFA's county index to 2025; permits are the latest 12 months.
How much have home values in the Amherst Town-Northampton, MA area risen over 10 years?
The FHFA annual index rose +77.7% between 2015 and 2025, about +5.9% a year. Over 20 years: +73.2%; since 2000: +181.4%. The quarterly index is +2.4% on a year earlier as of 2026 Q2.
Which counties in the Amherst Town-Northampton, MA area rose most?
By ten-year change to 2025: Hampshire County (+77.7%).
What happened to Amherst Town-Northampton, MA prices after 2007?
The index peaked in 2007, fell −10.6% to 2012 and regained the peak in 2018. Nationally: −21.3% from 2007 to 2012.
How many homes are being built in the Amherst Town-Northampton, MA area?
387 housing units were authorised across the area's counties in the 12 months to August 2026, 27% of them single-family, 2.4 per 1,000 residents.
Where does this data come from?
FHFA's annual CBSA house price index (developmental, updated March 31, 2026) and its standard quarterly metropolitan index; Census Bureau building permits summed over member counties (OMB July 2023 delineations) through August 2026; vintage 2025 population estimates.
Provenance
Index: Federal Housing Finance Agency, annual house price index for core based statistical areas (all-transactions, developmental), last updated March 31, 2026, values 1978–2025; quarterly metropolitan area index (all-transactions) through 2026 Q2. Permits: Census Bureau Building Permits Survey county files through August 2026, summed over member counties from OMB's July 2023 delineations. Population: Census Bureau vintage 2025 estimates. Public domain. Corrections · FHFA HPI datasets.