Release: Zillow Home Value Index (ZHVI)
The Zillow Home Value Index or ZHVI is a smoothed, seasonally adjusted measure of the typical home value and market changes across a given region and housing type. It reflects the typical value for homes in the 35th to 65th percentile range.
Home types captured in ZHVI include single-family residences, condos, and co-ops.
A single-family home is a standalone, detached house used as a single dwelling unit, meaning a residence for one family, person or household. It has its own private entrance and direct street access, and is built on its own land, usually with additional yard space.
An owner-occupied apartment is generally referred to as a condominium or condo. The public common areas are jointly-owned and usually managed by a homeowners association (HOA).
A cooperative, or co-op, is a type of housing that is actually a corporation. A co-op resembles a condominium but the unit owners do not own their unit outright. Each resident owns a share in a corporation that entitles them to live in one of the units under a lease agreement.
For more information on types of houses, check out Zillow's types of houses article. For information about ZHVI, check out their user guide. For more information about methodology check out this overview of ZHVI and a deep-dive into its methodology.
Zillow, Zillow Home Value Index (ZHVI) for All Homes Including Single-Family Residences, Condos, and CO-OPs in Tennessee [TNUCSFRCONDOSMSAMID], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/TNUCSFRCONDOSMSAMID, September 29, 2022.