Top 10 ZIPS with Highest Foreclosure Rates in 2023
Industry Update
January 12, 2024
Source: ATTOM
According to ATTOM’s newly released 2023 Year-End U.S. Foreclosure Market Report, foreclosure filings were reported on 357,062 U.S. properties in 2023. The report noted that figure was up 10 percent from 2022 and 136 percent from 2021, but down 28 percent from 2019 – before the pandemic shook up the market.
ATTOM’s latest foreclosure activity analysis reported that nationwide, foreclosure filings in 2023 were also down 88 percent from a peak of nearly 2.9 million in 2010. Also, according to the report, those 357,062 properties with foreclosure filings in 2023 represented 0.26 percent of all U.S. housing units. That figure was up slightly from 0.23 percent in 2022, but down from 0.36 percent in 2019 and down from a peak of 2.23 percent in 2010.
The year-end foreclosure report noted that states with the highest foreclosure rates in 2023 included New Jersey (0.46 percent of housing units with a foreclosure filing); Illinois (0.42 percent); Delaware (0.41 percent); Maryland (0.40 percent); and Ohio (0.38 percent).
The ATTOM analysis also reported that rounding out the top 10 states with the highest foreclosure rates in 2023, were South Carolina (0.38 percent); Nevada (0.37 percent); Florida (0.37 percent); Connecticut (0.35 percent); and Indiana (0.32 percent).
According to the report, among the 223 metro areas with a population of at least 200,000, those with the highest foreclosure rates in 2023 included Cleveland, Ohio (0.62 percent of housing units with a foreclosure filing); Atlantic City, New Jersey (0.62 percent); Lakeland, Florida (0.56 percent); Columbia, South Carolina (0.55 percent); and Fayetteville, North Carolina (0.51 percent).
The report noted that among those metro areas with a population greater than 1 million, including Cleveland, Ohio, those with the highest foreclosure rates in 2023 included Philadelphia, Pennsylvania (0.48 percent); Jacksonville, Florida (0.47 percent); Las Vegas, Nevada (0.46 percent); and Chicago, Illinois (0.45 percent).
For full report, please click the source link above.