A Detailed Look Using Vacancy Data for the State of Georgia
The state of Georgia boasts more than 3.2 million residential properties between its borders. As of Q4 2019, more than 67,000 of these homes were deemed abandoned or otherwise vacant properties, accounting for 2.06% of all residential properties in the state. Nationally, just 1.55% of all residential properties were vacant or abandoned as of the fourth quarter of 2019.
Of Georgia’s 4,300-plus homes in some stage of foreclosure, 3.43% were vacant in the fourth quarter, down from 3.59% the quarter prior. In total, 150 pre-foreclosures were vacant during Q4. These homes are often referred to as “zombie homes,” “zombie foreclosures,” or “zombie properties.”
When compared to national averages, the state of Georgia has a higher rate of zombie foreclosures than the nation as a whole. At the national level, just 2.96% of all pre-foreclosure homes have been marked as vacant.
Georgia’s 988,000 investor-owned homes see even higher rates of vacancies, with 46,628 — or 4.72% of all investor-owned properties — deemed vacant or abandoned as of Q4. That’s higher than the national average of 3.85%.
Here’s the full picture of Georgia’s vacant, zombie, and abandoned properties as of 2019’s fourth quarter.
|Property Status||Vacancy Rate||Total Number of Properties|
|Vacant, pre-foreclosure zombie properties||3.43%||150|
|Vacant, investor-owned properties||4.72%||46,628|