Top 10 Zombified ZIPS in Q2 2024
Industry Update
May 31, 2024
Source: ATTOM
According to ATTOM’s newly released Q2 2024 Vacant Property and Zombie Foreclosure Report, 1.3 million (1,289,387) residential properties in the United States are vacant. This figure represents approximately 1.3 percent, or one in 79 homes, across the nation, consistent with the rate observed in the first quarter of this year.
ATTOM’s latest vacant properties analysis also reveals that 237,208 residential properties in the U.S. are in the process of foreclosure in the second quarter of this year, marking a 2.3 percent decrease from the first quarter of 2024 and a 23.9 percent decline from the second quarter of 2023.
The report notes that among those pre-foreclosure properties, approximately 6,945 are vacant zombie foreclosures (pre-foreclosure properties abandoned by their owners) in the second quarter of 2024. This figure represents a 5.4 percent decrease from the previous quarter and a 20.6 percent decline from a year ago.
Also according to ATTOM’s Q2 2024 vacant property and zombie foreclosure report, the number of zombie properties has decreased in 30 states from the previous quarter and in 38 states compared to last year. The biggest decreases from Q1 to Q2 2024 in states with at least 50 zombie properties, are in: Ohio (zombie properties down 22 percent, from 597 to 466), Maryland (down 17 percent, from 104 to 86), South Carolina (down 14 percent, from 74 to 64), California (down 13 percent, from 310 to 269), and North Carolina (down 12 percent, from 67 to 59).
On a more granular level, the report indicates that the highest zombie foreclosure rates in U.S. counties with at least 500 properties in the foreclosure process during the second quarter of 2024 are found in Broome County (Binghamton), NY (15 percent of homes in foreclosure are vacant); Marion County (Indianapolis), IN (9.3 percent); Cuyahoga County (Cleveland), OH (7.6 percent); Erie County (Buffalo), NY (6.6 percent); and Volusia County (Daytona Beach), FL (5.9 percent).
In this post, we take a deep dive into the data behind ATTOM’s Q2 2024 Vacant Property and Zombie Foreclosure Report, to uncover the top 10 U.S. zip codes with the highest zombie foreclosure rates in zips with 10 or more pre-foreclosure properties. Those zips include: 61605 – Peoria, IL (69.8 percent); 66604 – Topeka, KS (50 percent); 61603 – Peoria, IL (47.8 percent); 46208 – Indianapolis, IN (40.6 percent); 14092 – Lewiston, NY (40 percent); 62948 – Herrin, IL (40 percent); 14905 – Elmira, NY (36.8 percent); 32064 – Live Oak, FL (36.4 percent); 45804 – Lima, OH (36.4 percent); and 66701 – Fort Scott, KS (36.4 percent).
For full report, please click the source link above.