Unveiling Foreclosure Rates: A 50-State Analysis and Its Impact on Real Estate Investment: Understanding the real estate market is a complex task, especially when it comes to foreclosure rates. Each state has its unique set of circumstances, market conditions, and foreclosure laws, making it a challenging landscape for investors to navigate. In our latest blog post, we delve into the foreclosure numbers across all 50 states, providing you with a comprehensive overview and insights that could shape your investment strategies.
Whether you’re a seasoned investor or just starting, this article will equip you with the knowledge you need to make informed decisions in the ever-changing world of real estate investing.
Foreclosures are up from last February 2021, and up even more significant compared to last year. They will continue to increase during 2022-23 in all markets. Read on for February foreclosure rates for all 50 states. We also included any increases and updates for March. We are beginning with the state that had the lowest rate of foreclosure filings per housing unit to the highest ranking.
☛ 50. South Dakota
- Ranked: 50th for foreclosure rate
- Foreclosures: 5 (Update/2,472)
- Pre-Foreclosure: 42
- Total Housing Units: 388,569
- Counties (from highest to lowest): Walworth, Butte, Lincoln, Pennington, and Minnehaha.
☛ 49. North Dakota
- Ranked: 49th place for foreclosure rate
- Foreclosures: 10 (Update/419)
- Pre-Foreclosure: 46
- Total Housing Units: 373,063
- Counties (from highest to lowest): Nelson, Barnes, Ward, Cass, and Burleigh.
☛ 48. Alaska
- Ranked: 48th place for foreclosure rate
- Foreclosures: 10 (Update/306)
- Pre-Foreclosure: 127
- Total Housing Units: 314,670
- Counties (from highest to lowest): Kenai Peninsula, Matanuska-Susitna, and Anchorage.
☛ 47. West Virginia
- Ranked: 47th place for foreclosure rate
- Foreclosures: 33
- Pre-Foreclosure: 6
- Total Housing Units: 27,036
- Counties (from highest to lowest): Grant, Wayne, Hancock, Marshall, and Lewis.
☛ 46. Vermont
- Ranked: 46th place for foreclosure rate
- Foreclosures: 13 (Update/475)
- Pre-Foreclosure: 30
- Total Housing Units: 334,999
- Counties (from highest to lowest): Windham, Bennington, Rutland, Washington, and Addison.
☛ 45. Oregon
- Ranked: 45th place for foreclosure rate
- Foreclosures: 73 (Update/4,237)
- Pre-Foreclosure: 476
- Total Housing Units: 1,768,901
- Counties (from highest to lowest): Douglas, Clackamas, Washington, Coos, and Klamath.
☛ 44. Montana
- Ranked: 44th place for foreclosure rate
- Foreclosures: 26 (Update/1,053)
- Pre-Foreclosure: 187
- Total Housing Units: 510,180
- Counties (from highest to lowest): Blaine, Richland, Custer, Fergus, and Yellowstone.
☛ 43. Kansas
- Ranked: 43rd place for foreclosure rate
- Foreclosures: 78 (Update/4,134)
- Pre-Foreclosure: 211
- Total Housing Units: 1,273,297
- Counties (from highest to lowest): Geary, Seward, Sherman, Cowley, and Brown.
☛ 42. Kentucky
- Ranked: 42nd place for foreclosure rate
- Foreclosures: 134 (Update/8,816)
- Pre-Foreclosure: 878
- Total Housing Units: 1,983,949
- Counties (from highest to lowest): Trimble, Hardin, Boyd, Union, and Greenup.
☛ 41. Washington
- Ranked: 41st place for foreclosure rate
- Foreclosures: 244 (Update/5,518)
- Pre-Foreclosure: 1,404
- Total Housing Units: 3,106,528
- Counties (from highest to lowest): Asotin, Pacific, Snohomish, Douglas, and Grays Harbor.
☛ 40. Tennessee
- Ranked: 40th place for foreclosure rate
- Foreclosures: 249 (Update/21,908)
- Pre-Foreclosure: 1,721
- Total Housing Units: 2,963,486
- Counties (from highest to lowest): Moore, Rhea, Cocke, Sequatchie, and Carroll.
☛ 39. Idaho
- Ranked: 39th place for foreclosure rate
- Foreclosures: 62 (Update/1,340)
- Pre-Foreclosure: 242
- Total Housing Units: 723,594
- Counties (from highest to lowest): Payette, Franklin, Teton, Bonneville, and Washington.
☛ 38. New Hampshire
- Ranked: 38th place for foreclosure rate
- Foreclosures: 56 (Update/942)
- Pre-Foreclosure: 314
- Total Housing Units: 634,726
- Counties (from highest to lowest): Merrimack, Cheshire, Strafford, Rockingham, and Belknap.
☛ 37. Minnesota
- Ranked: 37th place for foreclosure rate
- Foreclosures: 219 (Update/6,487)
- Pre-Foreclosure: 1,297
- Total Housing Units: 2,438,203
- Counties (from highest to lowest): Wright, Rock, Washington, Pipestone, and Murray.
☛ 36. Wyoming
- Ranked: 36th place for foreclosure rate
- Foreclosures: 26 (Update/6,274)
- Pre-Foreclosure: 101
- Total Housing Units: 276,846
- Counties (from highest to lowest): Campbell, Washakie, Johnson, Big Horn, and Converse.
☛ 35. Arkansas
- Ranked: 35th place for foreclosure rate
- Foreclosures: 136 (Update/6,621)
- Pre-Foreclosure: 1,087
- Total Housing Units: 1,370,281
- Counties (from highest to lowest): Cleveland, Miller, Fulton, Union, and Lonoke.
☛ 34. Mississippi
- Ranked: 34th place for foreclosure rate
- Foreclosures: 132 (Update/40,284)
- Pre-Foreclosure: 613
- Total Housing Units: 1,322,808
- Counties (from highest to lowest): Lawrence, Coahoma, De Soto, Franklin, and Holmes.
☛ 33. Louisiana
- Ranked: 33rd place for foreclosure rate
- Foreclosures: 219 (Update/44,268)
- Pre-Foreclosure: 1,446
- Total Housing Units: 2,059,918
- Counties (from highest to lowest): Saint Charles, Franklin, Saint Landry, Tangipahoa, and Livingston.
☛ 32. Colorado
- Ranked: 32nd place for foreclosure rate
- Foreclosures: 254 (Update/46,528)
- Pre-Foreclosure: 2,232
- Total Housing Units: 2,386,475
- Counties (from highest to lowest): Jackson, Delta, Phillips, Morgan, and Archuleta.
☛ 31. Virginia
- Ranked: 31st place for foreclosure rate
- Foreclosures: 387 (Update/11,346)
- Pre-Foreclosure: 1,894
- Total Housing Units: 3,514,032
- Counties (from highest to lowest): Norton City, Sussex, Martinsville City, Surry, and Mathews.
☛ 30. Rhode Island
- Ranked: 30th place for foreclosure rate
- Foreclosures: 53 (Update/760)
- Pre-Foreclosure: 106
- Total Housing Units: 468,335
- Counties (from highest to lowest): Kent, Providence, Bristol, and Newport.
☛ 29. New York
- Ranked: 29th place for foreclosure rate
- Foreclosures: 1015 (Update/22,800)
- Pre-Foreclosure: 10,075
- Total Housing Units: 8,322,722
- Counties (from highest to lowest): Suffolk, Cattaraugus, Ulster, Washington, and Greene.
☛ 28. Wisconsin
- Ranked: 28th place for foreclosure rate
- Foreclosures: 343 (Update/8,704)
- Pre-Foreclosure: 1,084
- Total Housing Units: 2,694,527
- Counties (from highest to lowest): Langlade, Washburn, Waupaca, Walworth, and Dodge.
☛27. Massachusetts
- Ranked: 27th place for foreclosure rate
- Foreclosures: 374 (Update/5,254)
- Pre-Foreclosure: 1,879
- Total Housing Units: 2,897,259
- Counties (from highest to lowest): Hampden, Bristol, Plymouth, Berkshire, and Worcester.
☛26. Oklahoma
- Ranked: 26th place for foreclosure rate
- Foreclosures: 234 (Update/5,159)
- Pre-Foreclosure: 1,442
- Total Housing Units: 1,731,632
- Counties (from highest to lowest): Kingfisher, Jackson, Craig, Dewey, and Muskogee.
☛ 25. Hawaii
- Ranked: 25th place for foreclosure rate
- Foreclosures: 75 (Update/1,425)
- Pre-Foreclosure: 265
- Total Housing Units: 542,674
- Counties (from highest to lowest): Hawaii, Honolulu, Kauai, and Maui.
☛ 24. Alabama
- Ranked: 24th place for foreclosure rate
- Foreclosures: 321 (Update/69,695)
- Pre-Foreclosure: 1,864
- Total Housing Units: 2,255,026
- Counties (from highest to lowest): Escambia, Henry, Autauga, Russell, and Conecuh.
☛ 23. Texas
- Ranked: 23rd place for foreclosure rate
- Foreclosures: 1588 (Update/30,230)
- Pre-Foreclosure: 6,585
- Total Housing Units: 10,937,026
- Counties (from highest to lowest): Real, Cochran, Atascosa, Mcculloch, and Wilson.
☛22. Missouri
- Ranked: 22nd place for foreclosure rate
- Foreclosures: 411 (Update/19,593)
- Pre-Foreclosure: 1,438
- Total Housing Units: 2,790,397
- Counties (from highest to lowest): Shelby, Dekalb, Audrain, Clay, and Perry.
☛ 21. New Mexico
- Ranked: 21st place for foreclosure rate
- Foreclosures: 141 (Update/1,575)
- Pre-Foreclosure: 406
- Total Housing Units: 937,920
- Counties (from highest to lowest): Sierra, Otero, Valencia, Eddy, and San Juan.
☛ 20. Pennsylvania
- Ranked: 20th place for foreclosure rate
- Foreclosures: 876 (Update/22,725)
- Pre-Foreclosure: 7,237
- Total Housing Units: 5,693,314
- Counties (from highest to lowest): Philadelphia, Venango, Bucks, Delaware, and Schuylkill.
☛19. Nebraska
- Ranked: 19th place for foreclosure rate
- Foreclosures: 132 (Update/34,943)
- Pre-Foreclosure: 422
- Total Housing Units: 837,476
- Counties (from highest to lowest): Hamilton, Garden, Clay, Webster, and Platte.
☛ 18. North Carolina
- Ranked: 18th place for foreclosure rate
- Foreclosures: 768 (Update/15,369)
- Pre-Foreclosure: 2,550
- Total Housing Units: 4,627,089
- Counties (from highest to lowest): Jones, Scotland, Gates, Tyrrell, and Onslow.
☛ 17. Iowa
- Ranked: 17th place for foreclosure rate
- Foreclosures: 236 (Update/26,807)
- Pre-Foreclosure: 985
- Total Housing Units: 1,397,087
- Counties (from highest to lowest): Tama, Mills, Jasper, Obrien, and Van Buren.
☛ 16. Utah
- Ranked: 16th place for foreclosure rate
- Foreclosures: 184 (Update/4,148)
- Pre-Foreclosure: 581
- Total Housing Units: 1,087,112
- Counties (from highest to lowest): Juab, Tooele, Beaver, Carbon, and Cache.
☛ 15. Arizona
- Ranked: 15th place for foreclosure rate
- Foreclosures: 516 (Update/46,367)
- Pre-Foreclosure: 3,386
- Total Housing Units: 3,003,286
- Counties (from highest to lowest): Gila, Pinal, Cochise, Mohave, and Santa Cruz.
☛ 14. Georgia
- Ranked: 14th place for foreclosure rate
- Foreclosures: 762 (Update/39,614)
- Pre-Foreclosure: 4,249
- Total Housing Units: 4,283,477
- Counties (from highest to lowest): Crawford, Terrell, Elbert, Worth, and Pierce.
☛ 13. Maine
- Ranked: 13th place for foreclosure rate
- Foreclosures: 136 (Update/1,094)
- Pre-Foreclosure: 575
- Total Housing Units: 742,788
- Counties (from highest to lowest): Androscoggin, Washington, Aroostook, Penobscot, and Piscataquis.
☛ 12. Connecticut
- Ranked: 12th place for foreclosure rate
- Foreclosures: 284 (Update/3,284)
- Pre-Foreclosure: 913
- Total Housing Units: 1,516,629
- Counties (from highest to lowest): Windham, Tolland, Middlesex, New Haven, and Hartford.
☛ 11. Michigan
- Ranked: 11th place for foreclosure rate
- Foreclosures: 857 (Update/31,773)
- Pre-Foreclosure: 2,080
- Total Housing Units: 4,596,198
- Counties (from highest to lowest): Macomb, Genesee, Wayne, Kalkaska, and Shiawassee.
☛ 10. California
- Ranked: 10th place for foreclosure rate
- Foreclosures: 2,927 (Update/37,663)
- Pre-Foreclosure: 13,388
- Total Housing Units: 14,175,976
- Counties (from highest to lowest): Alpine, Yuba, Trinity, Shasta, and Lake.
☛ 9. Florida
- Ranked: 9th place for foreclosure rate
- Foreclosures: 2,833 (Update/132,608)
- Pre-Foreclosure: 19,457
- Total Housing Units: 9,448,159
- Counties (from highest to lowest): Baker, Osceola, Polk, Duval, Suwannee.
☛ 8. Indiana
- Ranked: 8th place for foreclosure rate
- Foreclosures: 885 (Update/29,523)
- Pre-Foreclosure: 3,147
- Total Housing Units: 2,886,548
- Counties (from highest to lowest): Sullivan, Lake, La Porte, Madison, and Vanderburgh.
☛ 7. Delaware
- Ranked: 7th place for foreclosure rate
- Foreclosures: 133 (Update/3,405)
- Pre-Foreclosure: 151
- Total Housing Units: 433,195
- Counties (from highest to lowest): Kent, New Castle, and Sussex.
☛ 6. Maryland
- Ranked: 6th place for foreclosure rate
- Foreclosures: 779 (Update/13,304)
- Pre-Foreclosure: 1,748
- Total Housing Units: 2,448,422
- Counties (from highest to lowest): Caroline, Prince George’s County, Dorchester, Washington, and Baltimore City.
☛ 5. Nevada
- Ranked: 5th place for foreclosure rate
- Foreclosures: 402 (Update/6,164)
- Pre-Foreclosure: 1,976
- Total Housing Units: 1,250,893
- Counties (from highest to lowest): Clark, Lander, Mineral, Nye, and Washoe.
☛ 4. South Carolina
- Ranked: 4th place for foreclosure rate
- Foreclosures: 762 (Update/29,406)
- Pre-Foreclosure: 4,558
- Total Housing Units: 2,286,826
- Counties (from highest to lowest): Dorchester, Richland, Lexington, Kershaw, and Orangeburg.
☛ 3. Ohio
- Ranked: 3rd place for foreclosure rate
- Foreclosures: 1,857 (Update/27,498)
- Pre-Foreclosure: 7,135
- Total Housing Units: 5,202,304
- Counties (from highest to lowest): Cuyahoga, Preble, Lake, Marion, and Trumbull.
☛ 2. Illinois
- Ranked: 2nd place for foreclosure rate
- Foreclosures: 2,126 (Update/137,885)
- Pre-Foreclosure: 9,901
- Total Housing Units: 5,360,315
- Counties (from highest to lowest): Edgar, Livingston, Will, De Kalb, and Cook.
☛ 1. New Jersey
- Ranked: 1st place for foreclosure rate
- Foreclosures: 1,441 (Update/157,503)
- Pre-Foreclosure: 12,406
- Total Housing Units: 3,616,614
- Counties (from highest to lowest): Salem, Ocean, Burlington, Warren, and Essex.
☛ Final Thoughts
In conclusion, understanding foreclosure rates across the 50 states is crucial for any real estate investor. These numbers provide a snapshot of the market conditions, helping you identify potential opportunities and risks. Remember, while high foreclosure rates may indicate distressed markets with potential for profitable investments, they also come with their own set of challenges. It’s essential to conduct thorough due diligence and consider all factors before diving into these markets. Stay informed, stay prepared, and let these foreclosure insights guide your investment strategies for success in the dynamic world of real estate investing.
