The Address District Older Home Index compares two prices in each ZIP code, the average for older homes in the sample and the average for new construction. The gap between them shows how differently the market values the two.
Across the 1,170 ZIP codes with a comparison, the median ratio is 23.1 percent. Among the 231 of those ZIP codes with at least 10 homes in the sample, the median is 32.3 percent. The smaller the sample, the wider the gap tends to be. The median is 16.8 percent for ZIP codes with a single home in the sample and 34.4 percent for those with 20 or more.
Among those 231 ZIP codes, 27 show older homes at 20 percent of new construction or less, and 11 at 15 percent or less.
| ZIP | Place | State | Homes | Older homes | Older vs new | Rank |
|---|---|---|---|---|---|---|
| 37876 | SeviervilleSevier County, TN | TN | 32 | 4 | 5.2% | 230 |
| 28717 | CashiersJackson County, NC | NC | 11 | 1 | 7.5% | 641 |
| 96161 | TruckeeNevada County, CA | CA | 40 | 37 | 10.6% | 3 |
| 33050 | MarathonMonroe County, FL | FL | 12 | 5 | 10.6% | 186 |
| 89011 | Lake Las Vegas / CadenceHenderson, NV | NV | 11 | 4 | 11.1% | 237 |
| 89705 | Carson CityDouglas County, NV | NV | 10 | 7 | 12.8% | 129 |
| 95762 | El Dorado HillsEl Dorado County, CA | CA | 15 | 5 | 13.0% | 180 |
| 96740 | Kailua-konaHawaii County, HI | HI | 13 | 6 | 13.6% | 150 |
| 96756 | KoloaKauai County, HI | HI | 10 | 2 | 13.9% | 431 |
| 30513 | Blue RidgeFannin County, GA | GA | 10 | 3 | 14.1% | 308 |
| 85142 | Queen CreekMaricopa County, AZ | AZ | 12 | 7 | 14.7% | 126 |
| 97707 | BendDeschutes County, OR | OR | 16 | 10 | 15.7% | 75 |
| 80403 | GoldenJefferson County, CO | CO | 11 | 1 | 16.6% | 641 |
| 32550 | Miramar BeachWalton County, FL | FL | 11 | 6 | 16.7% | 155 |
| 33138 | Morningside / Upper EastsideMiami, FL | FL | 12 | 9 | 17.1% | 89 |
The widest gaps
In 37876, one of two Sevierville, Tennessee, ZIP codes in the index, older homes averaged 5.2 percent of the price of new construction, the lowest of any ZIP code with at least 10 homes. Only 4 of its 32 homes sampled are older homes. Cashiers, in the North Carolina mountains, is next at 7.5 percent, with a single older home among 11. Truckee, near Lake Tahoe, and Marathon, in the Florida Keys, are level at 10.6 percent.
Truckee is the one that combines both measures. It ranks third in the national index, with 37 of 40 homes built in 1980 or earlier, so it pairs one of the widest price gaps with one of the largest shares of older homes.
What the gap means when you sell
A wide gap does not mean an older home is cheap. It means new construction nearby sells for far more, and the two are priced as different products. The ratio also mixes homes of different sizes on different lots, and a few large new homes can pull the new-build average up. Each neighborhood page shows the sample behind its figure.
For an owner, the lesson is about comparisons. An older home should be priced against recent sales of other older homes nearby, not against the new house down the street. That is true whether you list or sell off-market. Our guide to selling off-market covers how to judge an offer, and owners in any of these neighborhoods can request one.
Sources
- Address District, The Older Home Index, October 2026
- Address District, Older Home Index methodology, October 2026
