The Foreclosure Crisis Is Still Hitting These States Hard

The foreclosure crisis is lessening. Through the first three quarters of 2017, 620,224 properties initiated foreclosure filings, according to ATTOM Data Solutions, a company that tracks real estate and foreclosure trends. The number of new filings last quarter is the lowest it has been since 2006, and down dramatically from the peak of more than 900,000 new filings per quarter in 2009 and 2010.

This good news doesn’t extend to all states and cities in the country, however. There are some places that are acutely feeling foreclosure stress.

Using data on foreclosure rates, the number of properties in foreclosure and the percentage of vacant homes sourced from ATTOM and its subsidiary RealtyTrac, GOBankingRates assembled data for each state in the country — plus the District of Columbia — and sorted the states by their foreclosure rates. A state’s population naturally affects the overall number of foreclosed properties, which is why paying attention to the foreclosure rate is so important. Click through to find out how housing markets are performing in your state.

• Foreclosure rate: 1 in 17,414
• Homes currently in foreclosure: 439
• Percentage of vacant homes: 11.81 percent
• Median home list price: $213,800

With approximate one house in foreclosure for every 17,414 housing units, South Dakota has the nation’s lowest foreclosure rate. The state’s largest city Sioux Falls also has a foreclosure rate that ranks among the lowest nationally, reporting only 112 filings for the first nine months of 2017.

• Foreclosure rate: 1 in 13,530
• Homes currently in foreclosure: 78
• Percentage of vacant homes: 11.58 percent
• Median home list price: $230,000

North Dakota has the fewest homes currently in foreclosure, and the second-lowest foreclosure rate of all 50 states. North Dakota’s largest city, Fargo, has one of the lowest rates of foreclosure among America’s largest metro areas, with only 93 properties filing for foreclosure from January to September 2017. Its neighbor, West Fargo, is also the wealthiest city in North Dakota.

• Foreclosure rate: 1 in 11,240
• Homes currently in foreclosure: 350
• Percentage of vacant homes: 14.92 percent
• Median home list price: $295,000

Foreclosures are few and far between in Big Sky Country, with only one foreclosed home for every 11,240 houses. Additionally, the number of new foreclosure filings is down 39 percent versus the same time last year.

• Foreclosure rate: 1 in 10,488
• Homes currently in foreclosure: 960
• Percentage of vacant homes: 15.76 percent
• Median home list price: $150,000

Despite higher unemployment and lower incomes than the U.S. average, foreclosures have kept to minimal levels in West Virginia. The foreclosure rate of one in every 10,488 homes is the fourth-best overall.

• Foreclosure rate: 1 in 6,727
• Homes currently in foreclosure: 297
• Percentage of vacant homes: 19.65 percent
• Median home list price: $249,500

One of Vermont’s major metro areas, Burlington-South Burlington, boasts an even lower foreclosure rate than Fargo. From January to September this year, only 44 properties filed for foreclosure. Despite the low foreclosure rate, Vermont does have the second-highest percentage of vacant homes

• Foreclosure rate: 1 in 5,918
• Homes currently in foreclosure: 4,730
• Percentage of vacant homes: 14.11 percent
• Median home list price: $289,900

Nevada has improved it foreclosure statistics dramatically, as the state continues to rebound from the Great Recession. In September, the number of properties that received a foreclosure filing in Nevada was 68 percent lower than the previous month, and 85 percent lower than September 2016.

• Foreclosure rate: 1 in 5,172
• Homes currently in foreclosure: 804
• Percentage of vacant homes: 13.87 percent
• Median home list price: $172,900

Mississippi’s cheap cost of living might help contribute to its low number and rate of foreclosures. Negative equity — which occurs when your home’s value drops and you owe more on the mortgage than the house is worth — is a major cause of foreclosure. Fortunately for homeowners, home values in Mississippi have risen steadily over the last five years, keeping the problem of negative equity in check.

• Foreclosure rate: 1 in 4,838
• Homes currently in foreclosure: 1,544
• Percentage of vacant homes: 14.09 percent
• Median home list price: $160,000

With just one house in every 4,838 in foreclosure, Arkansas has one of the lowest rates out of all southern U.S. states. Homeowners have benefitted from a consistent increase in home values, as the median rose 11 percent in the last two years.

• Foreclosure rate: 1 in 4,680
• Homes currently in foreclosure: 4,300
• Percentage of vacant homes: 11.84 percent
• Median home list price: $399,500

Things are fairly quiet on the foreclosure front in Colorado. Only one in every 4,680 homes is in foreclosure. Many of its major metro areas — including Denver, Colorado Springs and Greeley — have lower foreclosure rates than most cities in the country. In Denver, while foreclosures are still at low levels, they did increase 12 percent compared to the third quarter a year ago.

• Foreclosure rate: 1 in 4,196
• Homes currently in foreclosure: 6,330
• Percentage of vacant homes: 8.91 percent
• Median home list price: $349,000

Washington is experiencing rising home prices and cost of living increases. Yet, foreclosures have remained low compared to the rest of the country. The low percentage of vacant homes typically reflects strong housing demand — Washington has the fourth-lowest level out of all states.

• Foreclosure rate: 1 in 4,174
• Homes currently in foreclosure: 6,518
• Percentage of vacant homes: 10.4 percent
• Median home list price: $240,500

With just one home in foreclosure out of every 4,174, Minnesota has the nation’s 11th-best foreclosure rate. Metro areas like Minneapolis, Duluth and Rochester all have some of the lowest rates of foreclosure for the first three quarters of 2017.

• Foreclosure rate: 1 in 3,833
• Homes currently in foreclosure: 738
• Percentage of vacant homes: 16.9 percent
• Median home list price: $275,000

Alaska’s low foreclosure statistics portray a generally healthy housing market. One worrying figure is the state’s level of vacancy. With close to 17 percent of homes vacant, Alaska’s rate is much higher than the nationwide percentage of 12.81 percent. Another benefit of living in Alaska: It’s just one of five states that doesn’t charge a sales tax.

• Foreclosure rate: 1 in 3,813
• Homes currently in foreclosure: 2,256
• Percentage of vacant homes: 9.9 percent
• Median home list price: $164,500

Kansas has experienced a significant decrease in new foreclosure filings. Comparing September 2016 to September 2017, the number of foreclosures was 26 percent lower this year.

• Foreclosure rate: 1 in 3,729
• Homes currently in foreclosure: 1,359
• Percentage of vacant homes: 15.46 percent
• Median home list price: $275,000

In New Hampshire, incomes are high and unemployment is low compared to the U.S. overall. The rate of foreclosure also beats the national average, at one in every 2,079 compared to the New Hampshire rate of one in 3,729.

• Foreclosure rate: 1 in 3,682
• Homes currently in foreclosure: 1,262
• Percentage of vacant homes: 12.58 percent
• Median home list price: $262,945

Rising home values help keep foreclosures at bay by reducing the chances of negative equity forming. In Idaho, the median home value increased close to 20 percent in just two years, from $165,200 in August 2015 to $195,700 in August 2017. Home prices have risen so much that now it’s cheaper to rent a house than own one in Idaho.

• Foreclosure rate: 1 in 3,654
• Homes currently in foreclosure: 906
• Percentage of vacant homes: 9.7 percent
• Median home list price: $195,000

Foreclosure trends bode well for Nebraska’s housing market. The number of new foreclosure filings dropped 30 percent year-over-year. Nebraska has a markedly low percentage of vacant homes, less than the 12.81 percent U.S. average and the seventh-lowest of all states.

Indeed, housing demand in Nebraska is stretching supply to a breaking point. Available home inventory in major cities like Omaha has reached record lows as new home construction attempts to keep up.

• Foreclosure rate: 1 in 3,648
• Homes currently in foreclosure: 4,660
• Percentage of vacant homes: 12.56 percent
• Median home list price: $169,900

Missouri has been pretty calm on the foreclosure front. Though home prices are still affordable, home values have increased gradually over the years. From August 2015 to 2017, the median home value rose from $129,000 to $141,200 for an increase of 9 percent.

• Foreclosure rate: 1 in 3,611
• Homes currently in foreclosure: 16,954
• Percentage of vacant homes: 12.13 percent
• Median home list price: $269,000

Only one in 3,611 homes is in foreclosure in Texas, which is less than the national average. On the city level, Texas has fared well, although Houston’s foreclosure activity increased by a-not-so-small 17.7 percent in the first six months of 2017. Texas has other benefits, too, including an overall low cost of living.

• Foreclosure rate: 1 in 3,481
• Homes currently in foreclosure: 1,396
• Percentage of vacant homes: 13.65 percent
• Median home list price: $600,000

Hawaii’s median list price of $600,000 is easily the most expensive of all 50 states. However, foreclosures have stayed in check, and decreased in number by 30 percent year-over-year. The median home value in Hawaii has increased nearly 40 percent over the last five years.

• Foreclosure rate: 1 in 3,373
• Homes currently in foreclosure: 13,861
• Percentage of vacant homes: 13.73 percent
• Median home list price: $225,900

Georgia has improved its foreclosure situation dramatically in the past year. The number of new foreclosure filings was down 51 percent in September 2017, compared to filings a year ago.

• Foreclosure rate: 1 in 3,095
• Homes currently in foreclosure: 573
• Percentage of vacant homes: 14.66 percent
• Median home list price: $238,500

Wyoming has a fairly stable housing market. Its foreclosure rate is better than the U.S. average of one in every 2,079 homes. On the downside, home prices haven’t moved much. In fact, in the last two years, the median home list price dropped $1,400, from $239,900 in August 2015 to $238,500 in August 2017.

One great benefit to living in Wyoming: A separate GOBankingRates study found it it one of best states for families to save money and have a richer life.

• Foreclosure rate: 1 in 3,071
• Homes currently in foreclosure: 11,854
• Percentage of vacant homes: 15.14 percent
• Median home list price: $169,000

Michigan has been through a lot over the years, namely the decline of the American auto industry coupled with the nationwide recession. However, Michigan’s rate of foreclosures is fairly manageable. And even a city like Detroit, ravaged by downturns and decreasing population, has a foreclosure rate that’s less than most major cities in the U.S.

• Foreclosure rate: 1 in 3,040
• Homes currently in foreclosure: 2,537
• Percentage of vacant homes: 12.3 percent
• Median home list price: $174,000

Kentucky doesn’t have much to worry about when it comes to foreclosures — it’s roughly in the middle of all states in terms of its foreclosure rate. And there’s the added bonus of affordable home prices, which Kentucky can still boast. It has the 10th-lowest median home price in the country. In Kentucky, you can buy quite a large house for $300,000.

• Foreclosure rate: 1 in 3,034
• Homes currently in foreclosure: 5,242
• Percentage of vacant homes: 8.39 percent
• Median home list price: $169,900

Foreclosures aren’t much of an issue right now in Iowa, and the number of properties with foreclosure filings is 12 percent lower versus the same time last year. Homeowners, however, probably would like to see greater appreciation, considering the median home value has only risen by about 4 percent from August 2015 to 2017. It’s surprising home values haven’t risen more because Iowa has the second-lowest percentage of vacant homes out of all states, and less availability tends to push prices up.

• Foreclosure rate: 1 in 2,994
• Homes currently in foreclosure: 7,418
• Percentage of vacant homes: 12.28 percent
• Median home list price: $189,900

Solidly in the middle of all states when it comes to foreclosure rates, Wisconsin is doing OK. One concerning issue is the number of properties in Wisconsin that received a foreclosure notice in September 2017 was actually 1 percent higher than the same time last year.

• Foreclosure rate: 1 in 2,671
• Homes currently in foreclosure: 6,066
• Percentage of vacant homes: 10.29 percent
• Median home list price: $294,999

Most of Virginia has fared well when it comes to foreclosures — the number of properties that received a filing was down 15 percent compared to the same time last year. That said, the metro area of Virginia Beach-Norfolk-Newport News does rank relatively high with its rate of foreclosures, and more than 3,800 homes have filed in the first nine months of 2017.

• Foreclosure rate: 1 in 2,657
• Homes currently in foreclosure: 5,227
• Percentage of vacant homes: 11.77 percent
• Median home list price: $190,000

Tennessee is doing well in terms of foreclosures, considering one in every 2,657 homes is better than the U.S. average of one home in foreclosure out of every 2,079. The Nashville and Knoxville metro areas have seen foreclosure activity drop 45 percent and 34.3 percent respectively year-over-year. In fact, Knoxville is one city where home prices are skyrocketing.

• Foreclosure rate: 1 in 2,650
• Homes currently in foreclosure: 3,072
• Percentage of vacant homes: 9.19 percent
• Median home list price: $349,999

Oregon is home to some hot housing markets, and perhaps the next real estate bubble. In terms of foreclosures, it is rather healthy and has seen a 47 percent drop in foreclosure filings compared to the same time last year. At 9.19 percent, it has the fifth-lowest vacant home percentage out of all states.

• Foreclosure rate: 1 in 2,581
• Homes currently in foreclosure: 9,727
• Percentage of vacant homes: 16.19 percent
• Median home list price: $268,990

Arizona has also seen its foreclosure numbers go down. The number of properties that received a foreclosure filing in September was 30 percent lower than the previous month and 36 percent lower than September 2016.

• Foreclosure rate: 1 in 2,484
• Homes currently in foreclosure: 2,427
• Percentage of vacant homes: 9.79 percent
• Median home list price: $330,000

Utah has the 20th-highest foreclosure rate in the country, but it is still manageable at one in every 2,484 homes. Year-over-year foreclosure trends look promising as the number of foreclosure filings fell by 50 percent compared to 2016.

Home values continue to favor homeowners. Over the last five years, Utah’s median home value rose more than 40 percent, from $176,900 in August 2012 to $253,700 in August 2017.

• Foreclosure rate: 1 in 2,349
• Homes currently in foreclosure: 42,316
• Percentage of vacant homes: 8.56 percent
• Median home list price: $499,000

Home to dozens of major housing markets, including some of the priciest in the U.S., California has tens of thousands of homes currently in foreclosure. Despite the high overall numbers, the number of properties in foreclosure is actually down 27 percent from where it was last year.

• Foreclosure rate: 1 in 2,282
• Homes currently in foreclosure: 4,429
• Percentage of vacant homes: 14.08 percent
• Median home list price: $199,900

Louisiana foreclosure activity has been on the rise lately. According to a report by CoreLogic, Louisiana reported a significant increase in delinquency rates largely due to falling oil prices in 2016. The number of properties with foreclosure filings is 6 percent higher this year than the same time last year.

• Foreclosure rate: 1 in 2,178
• Homes currently in foreclosure: 489
• Percentage of vacant homes: 12.33 percent
• Median home list price: $529,900

It’s not surprising that Washington, D.C., has few homes in foreclosure. It has a far smaller housing market when judged alongside U.S. states. D.C.’s foreclosure rate, however, is higher than 64 percent of all states.

• Foreclosure rate: 1 in 2,141
• Homes currently in foreclosure: 1,568
• Percentage of vacant homes: 10.95 percent
• Median home list price: $299,500

Foreclosure rates are creeping back up in Rhode Island. The number of properties that received a foreclosure filing in September was 19 percent higher than the previous month, and only 3 percent lower than the same time last year.

• Foreclosure rate: 1 in 2,087
• Homes currently in foreclosure: 1,960
• Percentage of vacant homes: 22.84 percent
• Median home list price: $229,900

Maine is the first state to have a foreclosure rate higher than the national rate, which is one home out of every 2,079. The percentage of homes that are vacant also makes Maine stand out for negative reasons. Nearly 23 percent of Maine homes are vacant, the highest vacancy rate when comparing across states.

• Foreclosure rate: 1 in 1,936
• Homes currently in foreclosure: 5,935
• Percentage of vacant homes: 15.16 percent
• Median home list price: $189,900

Alabama’s foreclosure rate is higher than the national rate. The good news is the number of new filings has gone down since the same time last year by 20 percent.

• Foreclosure rate: 1 in 1,888
• Homes currently in foreclosure: 24,677
• Percentage of vacant homes: 10.78 percent
• Median home list price: $189,900

Pennsylvania’s foreclosure rate is among the top 20 highest. The Philadelphia-Camden-Wilmington metro area has the third-highest foreclosure rate in the U.S. out of the 217 largest metro areas. More than 19,000 properties filed for foreclosure between January and June 2017.

• Foreclosure rate: 1 in 1,823
• Homes currently in foreclosure: 5,224
• Percentage of vacant homes: 13.53 percent
• Median home list price: $176,360

With one in 1,823 homes reported as in foreclosure, Oklahoma has one of the higher rates in the country. Oklahoma City in particular has experienced significant foreclosure activity, rising 22.4 percent year-over-year from January to June.

• Foreclosure rate: 1 in 1,779
• Homes currently in foreclosure: 11,706
• Percentage of vacant homes: 9.82 percent
• Median home list price: $409,900

Foreclosure rates are rising in Massachusetts. In September, the number of properties that received a foreclosure filing was 24 percent higher than the previous month. The Worcester area had the 11th-highest foreclosure rate of all ranked metro areas for the first six months of 2017.

• Foreclosure rate: 1 in 1,757
• Homes currently in foreclosure: 11,017
• Percentage of vacant homes: 11.27 percent
• Median home list price: $160,000

Indiana has the nation’s 12th-highest foreclosure rate, though its neighbors Ohio and Illinois both have even higher rates. The number of foreclosure filings is down compared to the same time last year, but only 3 percent lower.

• Foreclosure rate: 1 in 1,705
• Homes currently in foreclosure: 14,295
• Percentage of vacant homes: 14.27 percent
• Median home list price: $249,000

With one in every 1,705 houses in foreclosure, North Carolina’s foreclosure rate is high, as is the percentage of vacant homes. For the third quarter of 2017, the city of Fayetteville had a foreclosure rate of one in every 283 housing units, the fourth-highest in the country.

• Foreclosure rate: 1 in 1,661
• Homes currently in foreclosure: 109,345
• Percentage of vacant homes: 10.5 percent
• Median home list price: $339,900

In terms of sheer quantity, New York tops the chart with well over 100,000 foreclosures currently listed. Its foreclosure rate has risen, too, and now rounds out the top 10 states with the highest rates. In September, the number of New York properties that received a foreclosure filing was 15 percent higher than August and 3 percent higher than September a year ago.

• Foreclosure rate: 1 in 1,544
• Homes currently in foreclosure: 70,921
• Percentage of vacant homes: 19.3 percent
• Median home list price: $279,900

Florida’s foreclosure rate falls at No. 9 nationally. Another concern for housing markets in Florida is vacancy rate, which stands at nearly 20 percent of homes, the third-highest percentage in the country.

• Foreclosure rate: 1 in 1,496
• Homes currently in foreclosure: 4,013
• Percentage of vacant homes: 14.84 percent
• Median home list price: $219,900

Foreclosure activity is high in New Mexico. Albuquerque specifically is a trouble spot, reporting the 12th-highest foreclosure rate in U.S. metro areas for the first half of 2017. New Mexico had the second-highest unemployment rate in the country in September, at 6.2 percent. If you lose your job, follow concrete steps to prevent mortgage default.

• Foreclosure rate: 1 in 1,389
• Homes currently in foreclosure: 11,981
• Percentage of vacant homes: 16.58 percent
• Median home list price: $230,685

South Carolina suffers from a high foreclosure rate at the state level while also containing cities that are exhibiting some of the highest rates nationally. The state capital, Columbia, ranks among the top 10 metro areas with the highest foreclosure rates. For the third quarter of 2017, one in 284 housing units was in foreclosure.

• Foreclosure rate: 1 in 1,370
• Homes currently in foreclosure: 31,621
• Percentage of vacant homes: 10.87 percent
• Median home list price: $154,900

Ohio’s foreclosure rate of one in every 1,370 homes is high on its own, but rates at the county- and city-level are even more unsettling.

Eight of Ohio’s principal metro areas all have foreclosure rates that rank among the highest in the nation. And looking at counties, Cuyahoga County has an alarming rate of one foreclosure in every 760 homes. Cleveland has the third-highest foreclosure rate out of all major cities, with one in 275 housing units in foreclosure.

• Foreclosure rate: 1 in 1,348
• Homes currently in foreclosure: 38,497
• Percentage of vacant homes: 9.45 percent
• Median home list price: $214,500

Besides facing one of the biggest pension crises in the U.S., Illinois suffers from the fifth-highest rate of foreclosures. For the first half of 2017, metro areas like Rockville, Chicago and Peoria all reported foreclosure rates that ranked among the highest out of 217 major cities.

• Foreclosure rate: 1 in 1,282
• Homes currently in foreclosure: 4,394
• Percentage of vacant homes: 7.89 percent
• Median home list price: $299,900

Connecticut has the fourth-highest foreclosure rate nationwide, though it has the lowest percentage of vacant homes. Metro areas like Hartford and New Haven-Milford each have recorded more than 2,500 foreclosure filings in the first nine months of 2017. There are pros and cons of buying a foreclosed home — here’s what to consider before making a purchase.

• Foreclosure rate: 1 in 1,107
• Homes currently in foreclosure: 11,432
• Percentage of vacant homes: 9.93 percent
• Median home list price: $299,500

On the city level, Maryland is home to one of the worst metro areas for foreclosures. From January to June 2017, Baltimore-Columbia-Towson has seen close to 8,000 properties receive foreclosure filings and has the fifth-highest rate of foreclosures out of the U.S.’s major metro areas. In Baltimore, foreclosure activity is 256 percent above pre-recession levels, according to ATTOM.

• Foreclosure rate: 1 in 785
• Homes currently in foreclosure: 70,162
• Percentage of vacant homes: 10 percent
• Median home list price: $299,000

New Jersey’s foreclosure rate is the second-highest in the country. And statistics at the city level are equally unsettling. Two of New Jersey’s biggest metro areas, Atlantic City and Trenton, reported the No. 1 and No. 2 highest foreclosure rates in the first nine months of the year. For the third quarter of 2017, one in every 150 housing units received a foreclosure filing in Atlantic city, and one in 234 did in Trenton.

• Foreclosure rate: 1 in 732
• Homes currently in foreclosure: 2,046
• Percentage of vacant homes: 16.85 percent
• Median home list price: $267,500

Delaware might not have that many total homes in foreclosure, but with approximately one in every 732 houses in foreclosure proceedings, Delaware has the nation’s highest foreclosure rate. On top of that, the percentage of vacant homes in Delaware ranks as the fifth-highest nationally.

Foreclosure rates are trending upward, too. While the number of new filings is down 8 percent compared to a year ago, it’s up 19 percent compared to last month.

Methodology: State foreclosure rates, the number of homes currently in foreclosure and the percentage of vacant homes in each state via RealtyTrac. Statistics are current as of Oct. 26, 2017. State median home prices via Zillow are from August 2017.