Reverse Engineering Finance

Zillow September home value index heat maps

The bottom is not in for Florida...

John Comiskey's avatar
John Comiskey
Oct 17, 2025
∙ Paid

In September, 9967 zip codes saw month over month declines in Zillows zip code based home value index. This compares to 12364 such zip codes in August. Zillow tracks 26311 zip codes.

So in one sense perhaps the housing market is “improving” (as measured by home price appreciation) if looked at nationally. But of course, housing values are very much local and zip codes in Florida are shaded very differently than those in Ohio in this months heat maps. This months update again contains two interactive heat maps, one showing the month over month change from August to September for every zip code Zillow tracks, the other shows the year over year change from last September to this September for the zip codes.

The Highlights

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