Top 10 ZIPs with the Highest Foreclosure Rates in Q1 2020

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ATTOM Data Solutions’ newly released Q1 2020 U.S. Foreclosure Market Report reveals that foreclosure activity in the first quarter of 2020 was below pre-recession averages for 61 percent of U.S. housing markets (134 out of the 220) with a population greater than 200,000.

The areas named in this category were Denver, Colorado (89 percent below); Detroit, Michigan (80 percent below); Las Vegas, Nevada (80 percent below); Dallas-Fort Worth (79 percent below); and Indianapolis, Indiana (78 percent below). The analysis also noted other major markets with Q1 2020 foreclosure activity below pre-recession averages included Sacramento, San Francisco, San Jose, Memphis and Grand Rapids.

ATTOM’s latest foreclosure market report shows there were 156,253 U.S. properties with a foreclosure filing in Q1 2020. That number is up 42 percent from Q4 2019, but down 3 percent from Q1 2019.

According to the report, nationwide one in every 873 U.S. housing units had a foreclosure filing in Q1 2020. States with the highest foreclosure rates in in Q1 2020 were New Jersey (one in 406 housing units with a foreclosure filing); Delaware (one in 433); Illinois (one in 448); Maryland (one in 583); and Florida (one in 628).

The report also stated that among 220 metro areas with a population of at least 200,000, those with the highest foreclosure rates in the first quarter of 2020 were Trenton, New Jersey (one in every 286 housing units); Atlantic City, New Jersey (one in 293); Rockford, Illinois (one in 296);  Lake Havasu City, Arizona (one in 331); and Peoria, Illinois (one in 351).

Drilling down to the zip code level, here are the top 10 zip codes within these major metros named in the report with a population of at least 200,000, with the highest foreclosure rates in Q1 2020: 61562 – Peoria, IL (one in every 14 housing units); 86445 – Lake Havasu City-Kingman, AZ (one in every 21); 86431 – Lake Havasu City-Kingman, AZ (one in every 29); 61451 – Peoria, IL (one in every 41); 86401 – Lake Havasu City-Kingman, AZ (one in every 76); 61564 – Peoria, IL (one in every 86); 08609 – Trenton, NJ (one in every 101); 61610 – Peoria, IL (one in every 113); 08326 – Atlantic City-Hammonton, NJ (one in every 114); and 86413 – Lake Havasu City-Kingman, AZ (one in every 117).

ATTOM’s Q1 2020 U.S. Foreclosure Market Report noted other major metros with a population of at least 1 million and foreclosure rates in the top 25 highest nationwide. Those included Chicago, Illinois at No. 6, Philadelphia, Pennsylvania at No. 7, Cleveland, Ohio at No. 9, Riverside, California at No. 12, and Jacksonville, Florida at No. 15.

Also according to the analysis, U.S. foreclosure starts decreased 11 percent from Q1 2019, while bank repossessions were down in 41 states and DC, and the average foreclosure timeline decreased 19 percent during the same time frame.

The report featured March 2020 foreclosure activity as well. There were a total of 46,800 U.S. properties with foreclosure filings in March 2020. That number is down 3 percent from February 2020 and down 20 percent from March 2019 — the third consecutive month with a year-over-year decrease in U.S. foreclosure activity.

Want to learn more about foreclosure activity, rates and timelines in your area ? Contact us to find out how!

Please contact us if you have questions about the underlying data referenced in this article, or would like to have access to that data in the form of custom reports, API, Bulk File or DaaS.

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