States › Florida › Putnam County › ZIP 32189
ZIP code
ZIP 32189
Putnam County · Palatka, FL · Florida
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. FHFA describes its ZIP code indexes as developmental: they may be revised as new data arrive or methods change, and the index does not give a dollar value for any home.
ZIP code 32189 is in Putnam County, Florida, within the Palatka, FL area. FHFA's index for it begins in 2002; through 2025 it stands at 288, meaning prices in repeat sales of the same homes are up +187.7% since 2002.
Over the ten years to 2025 the index rose +196.6%, about +11.5% a year: well above Putnam County (+155.5%), well above Florida (+126.8%) and well above the national index (+85.0%). The change over 2024–2025 was +16.5%.
From its 2006 peak the index fell −48.0% to a 2015 low and regained the peak in 2022.
Building activity is measured at county level: Putnam County authorised 95 housing units in the 12 months to August 2026, 1.2 per 1,000 residents, 62% of them single-family.
Same span, five levels
| Change in the FHFA index | ZIP 32189 | Putnam County | Palatka area | Florida | United States |
|---|---|---|---|---|---|
| 1 year (2024–2025) | +16.5% | +2.3% | +2.3% | −0.5% | +2.8% |
| 5 years (2020–2025) | +92.6% | +67.1% | +67.1% | +59.9% | +47.0% |
| 10 years (2015–2025) | +196.6% | +155.5% | +155.5% | +126.8% | +85.0% |
| 20 years (2005–2025) | +103.8% | +96.7% | +96.7% | +89.6% | +79.1% |
| Since 2000 | — | +228.7% | +228.7% | +264.2% | +158.3% |
| Since 2002 | +187.7% | +186.4% | +186.4% | +203.9% | +129.7% |
| 10-year annualised | +11.5% | +9.8% | +9.8% | +8.5% | +6.3% |
| 20-year annualised | +3.6% | +3.4% | +3.4% | +3.3% | +3.0% |
Every column uses FHFA's annual all-transactions index family and the same start and end years, so the figures are directly comparable. A dash means the level has no index for that span.
Decade by decade
| Decade | Change | United States | |
|---|---|---|---|
| 2010s (2010–2020) | +17.4% | +35.5% | |
| 2020s so far (2020–2025) | +92.6% | +47.0% |
FHFA reports each index with a value of 100 in its base period, the first year the area has enough transactions (2002 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 2002 are not shown.
Peak-to-low declines
Falls of 5% or more from a previous high in the annual index, and the year the earlier peak was regained.
| Peak | Low | Decline | Peak regained |
|---|---|---|---|
| 2006 | 2015 | −48.0% | 2022 |
| 2023 | 2024 | −12.0% | 2025 |
Building permits in Putnam County
Permits are reported by county and by permit-issuing place, not by ZIP code. Housing units authorised in Putnam County, latest 12 months.
Housing units authorised in Putnam County by month, Sep 2025 to Aug 2026single-family2+ unit buildings
Full permit history and every city in Putnam County
Other ZIP codes in Putnam County
Ranked by ten-year change in the FHFA index; ZIP 32189 ranks 1 of 5 with an index through 2025.
| ZIP | 1 year | 10 years | Since 2000 | Index through |
|---|---|---|---|---|
| 32112 | +33.1% | +201.0% | — | 2023 |
| 32177 | 0.0% | +172.8% | +222.0% | 2025 |
| 32148 | −0.3% | +164.2% | +246.7% | 2025 |
| 32666 | +5.5% | +121.6% | +183.2% | 2025 |
| 32131 | −1.1% | +114.6% | — | 2025 |
All 6 ZIP codes in Putnam County
Questions and answers
How much have home values in ZIP 32189 risen over 10 years?
The FHFA house price index for 32189 rose +196.6% between 2015 and 2025, about +11.5% a year compounded. Over five years the change was +92.6% and over one year +16.5%.
How does 32189 compare with Putnam County?
Over the same ten years to 2025, Putnam County rose +155.5%, Florida +126.8% and the United States +85.0%, against +196.6% for the ZIP. Among 5 ZIP codes in the county with an index through 2025, 32189 ranks 1 by ten-year change.
What happened to prices in 32189 after 2007?
The index peaked in 2006, fell −48.0% to its 2015 low and passed the earlier peak again in 2022. Nationally the fall was −21.3% from 2007 to 2012.
How many homes are being built in 32189?
Building permits are published by place and county, not by ZIP. Putnam County authorised 95 housing units in the 12 months to August 2026, +25.0% on the previous 12 months. The county page lists permits by month and by city.
Where does the index for this ZIP come from?
From the Federal Housing Finance Agency's annual five-digit ZIP code house price index (all-transactions), last updated March 31, 2026. FHFA labels the ZIP-level indexes developmental: they are calibrated on appraisal values and sales prices for mortgages bought or guaranteed by Fannie Mae and Freddie Mac, and may be revised. The index tracks price changes for the same homes over time; it does not give a dollar value for any home.
Provenance
Index: Federal Housing Finance Agency, annual house price index for five-digit ZIP codes (all-transactions, developmental), last updated March 31, 2026, values 2002–2025, public domain. County, state and national comparison series are FHFA's annual indexes for those levels from the same release. ZIP to county assignment uses the Census Bureau's 2020 ZCTA-to-county relationship file (largest land share); county to metro uses OMB's July 2023 delineations. Permits: Census Bureau Building Permits Survey through August 2026. Errors in processing are corrected at the next build; see corrections. FHFA HPI datasets.