A Detailed Look Using Vacancy Data for the State of Texas
The state of Texas is home to more than 7.5 million residential properties. As of the close of 2019’s fourth quarter, nearly 97,000 of those properties — or 1.29% — have been marked abandoned or vacant. That rate holds steady from Q3.
When looking at zombie properties — or abandoned properties in some stage of foreclosure — the vacancy rate is even higher in Texas. Just over 2% of all pre-foreclosure properties were marked abandoned in Q4. That’s down from the previous quarter’s rate, when 2.22% of all homes in some stage of foreclosure were vacant.
Investor-owned properties also saw a higher vacancy rate than the state’s average. Of the Lone Star State’s nearly 1.9 million investor-owned homes, nearly 70,000 were marked vacant in the fourth quarter of 2019 — a rate of 3.62%.
Nationally,1.55% of all residential properties have been marked abandoned. Of the country’s investor-owned properties, more than 1.1 million are vacant (3.85%), and 8,500 are pre-foreclosure properties (2.96%). At the state level, Texas has a higher vacancy rate than California, North Carolina, and New York. It comes in lower than states like Florida (2.16%), Ohio (2.12%), and Michigan (2.11%).
Here’s the current state of vacant, abandoned, and zombie homes in the Lone Star State, as of Q4 2019.
|Property Status||Vacancy Rate||Total Number of Properties|
|Vacant, pre-foreclosure zombie properties||2.06%||154|
|Vacant, investor-owned properties||3.62%||69,836|