☛The Foreclosure Numbers Are In! 50 State Foreclosure Rates

Foreclosures are up from last February, and up even more significant compared to last year. They will continue to increase during 2022 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 […]

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Foreclosures are up from last February, and up even more significant compared to last year. They will continue to increase during 2022 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.

☛Wrap up

No doubt 2019-2022 have been taxing for investors nationwide.  Either the competition for great properties has become intense, renters not paying rent or lenders are tightening their purse strings.  Either way, it’s limiting growth for investors across the country.  With this wave of foreclosures, there will be enough to go around.  Especially in states that have seen a lot of incoming migration.  Places like Florida, South Carolina, Alabama, Tennessee, and Idaho. Another factor important factor is understanding the migration patterns that have emerged.  Where renters are moving to and why can help you serve the housing needs.  Especially, since this migration is causing housing deficits in certain markets. This lack of housing will be driving rents up and property value in these hot rental spots.  So, understanding these migration patterns is an effective way to drive your investment dollars where you can get the most bang for your money.

Additionally, this January there was a seven-fold increase in foreclosure submissions as compared to December 2021, with roughly 33,000 foreclosure filings, according to a report from mortgage data and analytics company Black Knight. Those numbers seem to be doubling and tripling in some states.  So, understanding the pre-foreclosure and foreclosure process is paramount to endeavouring to increase your portfolio in the next 12-18 months.  Watch out for our next 2 articles in May 2022 titled “Tips on Buying Foreclosed Investment Property” and “How to Negotiate a Pre-Foreclosure Using a Short Sale.” As savvy investors, we need to have the ability to study renter migration patterns and keep an eye out for opportunities in our market.  The wave of foreclosures hitting the market and being aware can turn the tables in our favor in this very competitive market.  All we need to do is focus on where and when the rental inventory becomes available.  Once we know, you can match it up with the migration patterns of hot spots in many markets nationwide.  Happy hunting in 2022!

Recommended: ☛Understanding and Negotiating a Short Sale on an Investment Property

Recommended: ☛Opportunities Looming for 2022…are you ready to dive in?

Recommended: ☛Refinancing your investment property…is it right for you?

Maximilian D. Lucena
DIRECTOR OF ACQUISITIONS & CAPITAL FUNDING

Royal Oxford Global Properties
Office: 904-876-3080, Ext 5
Book A Call: Click Here

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