The three ways to find your home's value
You can find your home's estimated value through a public tax assessment, an online valuation tool, or a professional appraisal. Each method gives you a different number because they use different data and serve different purposes. A tax assessment is what your local government thinks your home is worth for property tax purposes. An online estimate pulls from recent sales of similar homes in your area. A professional appraisal is what a licensed appraiser determines after walking through your home and comparing it to recent sales — this is the most expensive option but the most detailed.
The method you choose depends on why you need the value. If you are refinancing a mortgage or applying for a home equity loan, your lender will order a professional appraisal and you will not have a choice. If you are selling your home, a real estate agent will provide a comparative market analysis based on recent sales in your neighborhood. If you are curious about your home's value for insurance, tax planning, or general knowledge, an online estimate or tax assessment is usually enough.
Key Takeaways
- Your county assessor's office publishes property tax assessments online for free, though these values are often lower than market value because they are used only for tax purposes.
- Online valuation tools like Zillow, Redfin, and Realogy estimate your home's value using recent sales data, but these estimates can be off by 5 to 20 percent depending on how recently homes near you have sold.
- A professional appraisal ordered by a licensed appraiser costs between $300 and $700 and is the most accurate method, but it is required only when you are borrowing money against your home.
- Real estate agents provide free comparative market analyses when you list your home for sale, and these are based on actual recent sales in your exact neighborhood.
- Your home's assessed value, market value, and appraised value are often three different numbers, and knowing which one you need prevents wasted time and money.
Finding your assessed value through your county assessor
Your county assessor's office maintains a public record of every property's assessed value. This is the value used to calculate your property taxes, not the price your home would sell for. You can find this information by visiting your county assessor's website — search "[your county name] assessor" — and entering your address or parcel number. Most counties now have searchable online databases that are free to use.
The assessed value is usually lower than what your home would actually sell for, sometimes significantly lower. This is because assessors do not always update values every year, and they use different methods than the real estate market does. However, the assessed value is a real number tied to your property record, and it is useful for understanding your property tax bill or for a rough starting point. If you cannot find your county's online database, call the assessor's office directly — they are required to provide this information to property owners.
Using online valuation tools for a quick estimate
Websites like Zillow, Redfin, Realogy, and Trulia use recent home sales data to estimate your home's current market value. You enter your address and the tool shows you an estimated range. These estimates are free and take less than a minute. The tools are useful for getting a ballpark figure, but they have real limitations: they work best in areas where homes sell frequently, and they can be significantly off if your home has unusual features, recent major renovations, or if few comparable homes have sold nearby recently.
Each website's estimate may differ because they weight recent sales differently and use slightly different algorithms. If you see a range of estimates across multiple sites, the true value is likely somewhere in the middle. These tools are not a substitute for a professional appraisal if you need an exact number for a loan or legal purpose, but they are a good first step if you just want to know roughly what your home might be worth today.
Getting a professional appraisal from a licensed appraiser
A professional appraisal is an official document prepared by a licensed appraiser who visits your home, measures it, photographs it, and compares it to recent sales of similar homes in your area. The appraiser produces a detailed report that includes the home's condition, square footage, lot size, and the comparable sales used to arrive at the final value. This is the most accurate method and the one lenders require when you are borrowing money.
You can order an appraisal yourself by contacting a local appraiser directly, though it will cost you $300 to $700 depending on your home's size and your region. If you are refinancing a mortgage or taking out a home equity loan, your lender will order and pay for the appraisal as part of the loan process. You do not choose the appraiser in that case — the lender does — but you have the right to receive a copy of the completed appraisal report.
Comparing your home to recent sales in your neighborhood
The most reliable way to understand your home's market value is to look at what similar homes actually sold for recently. You can do this yourself by searching your county's deed records or by using real estate websites like Zillow, Redfin, or your local multiple listing service (MLS). Look for homes that sold in the last three to six months, are similar in size and condition to yours, and are in the same neighborhood or a very nearby one.
Note the sale price, not the listing price — homes often sell for less than they are listed for. If you find five to ten recent comparable sales, the average of those prices gives you a realistic sense of what your home might be worth. This is essentially what a real estate agent does when they prepare a comparative market analysis. If you are planning to sell, a real estate agent will do this work for you at no cost as part of their listing presentation.
What to do if you need the value for a specific purpose
If you are refinancing a mortgage, your lender will order a professional appraisal and you will receive the result as part of your loan documents. If you are taking out a home equity line of credit or a home equity loan, the lender will also order an appraisal. If you are selling your home, interview two or three real estate agents and ask each one to provide a comparative market analysis — this is free and gives you a sense of what agents think your home is worth based on current market conditions.
If you are updating your homeowners insurance, call your insurance company and ask what value they have on file; you may need to provide an updated estimate if your home has been significantly improved. If you are curious about your home's value for estate planning or general knowledge, an online estimate or your county's assessed value is sufficient. If you are disputing your property tax assessment, contact your county assessor's office about the process for filing a formal appeal — this varies by state and county.
Why different sources give you different numbers
Your home will have at least three different values: the assessed value (for taxes), the estimated market value (from online tools or agents), and the appraised value (from a professional appraisal). These numbers exist because they serve different purposes and use different data. The assessed value is often the lowest because it is updated infrequently and uses a formula set by state law. The estimated market value from online tools is based on recent sales but may not account for your home's specific condition or recent upgrades. The appraised value is the most detailed because an appraiser has actually seen your home.
When you are shopping for a mortgage or refinancing, the appraised value is what matters because that is what the lender will use to decide how much money to lend you. When you are selling, the market value based on comparable recent sales is what matters because that is what buyers are willing to pay. Understanding which number you need prevents confusion and saves you from paying for an appraisal when a free online estimate would have answered your question.
Frequently Asked Questions
How often do home values change?
Home values change constantly based on the local real estate market, but the change is usually gradual. Your county assessor updates assessed values on a schedule set by state law — this may be every year, every three years, or every five years depending on where you live. Online estimates update whenever new sales data is added to the database, which can be weekly or monthly. A professional appraisal is a snapshot of value on a specific date and does not change unless you order a new one.
Can I use an online estimate to refinance my mortgage?
No. When you refinance, your lender will order a professional appraisal from a licensed appraiser. The lender uses the appraised value to decide how much you can borrow, not an online estimate. You can use an online estimate to decide whether refinancing makes sense for you, but the actual loan process requires an official appraisal.
What if the online estimate seems way too high or too low?
Check the estimate on multiple websites — Zillow, Redfin, and Realogy may give you different numbers. Look at the comparable sales the tool is using and see if they make sense for your neighborhood. If very few homes have sold near you recently, the estimate will be less reliable. If your home has major recent renovations or unusual features, online tools may not account for them. In that case, a real estate agent's comparative market analysis or a professional appraisal will be more accurate.
Do I need an appraisal to sell my home?
No. When you list your home for sale, the real estate agent will provide a comparative market analysis based on recent sales. The buyer's lender will order an appraisal as part of their mortgage process, but you do not need to pay for one yourself. If the appraisal comes in lower than the sale price, the buyer may renegotiate or walk away, so it is useful to understand what comparable homes have sold for before you list.
How accurate are online home value estimates?
Online estimates are typically within 5 to 20 percent of actual market value, depending on how recently homes near you have sold and how similar they are to yours. In neighborhoods where homes sell frequently and are similar in size and condition, estimates are more accurate. In rural areas or neighborhoods with few recent sales, estimates are less reliable. An online estimate is useful for a rough idea but should not be your only source if you need an exact number.