Elizabethtown-Fort Knox, KY Federal Housing Finance Agency Home Price Index (FHFA HPI)

The Elizabethtown-Fort Knox, Kentucky Federal Housing Finance Agency (FHFA) House Price Index (HPI) is a weighted, repeat-sales index measuring average price changes in single-family houses in the metropolitan area. The index was created to provide a more timely and comprehensive measure of house price trends than other existing indices.

As of December 2020, the HPI for the Elizabethtown-Fort Knox metro area was 226.8, up 4.4% from December 2019. This represents an increase in home prices in the metro area of over 4% in 2020.

The HPI is based on data from Fannie Mae and Freddie Mac's monthly 30-year fixed rate mortgage purchase applications. The data used to calculate the HPI includes sales price information on properties with conventional mortgages that were purchased by Fannie Mae or Freddie Mac from January 2000 through December 2020.

The HPI is a weighted, repeat-sales index measuring average price changes in single-family houses located within the boundaries of the Elizabethtown-Fort Knox metropolitan statistical area as defined by the U.S. Office of Management and Budget (OMB). The weights are derived from estimates of market value for each transaction and month included in the sample period using regression analysis techniques that control for differences in property characteristics such as location, type, age, square footage, and number of bedrooms and bathrooms.