CFED Scorecard

CFED Assets & Opportunity Scorecard

Housing & Homeownership
Foreclosure Rate
Definition

Percentage of mortgage loans in foreclosure, Quarter 2, 2015.

Description

Because of its devastating impact on a household’s finances in addition to displacing families from their homes, the foreclosure rate is an important measure of financial distress. More than 12 million homes went into foreclosure between 2007 and 2012, according to the Center for Responsible Lending. When combined with the percentage of delinquent mortgage loans, this measure can paint a broad picture of which states have been most severely affected by the foreclosure crisis.

2.1% of mortgage loans issued in United States are in foreclosure

Foreclosure Rate, Quarter 2, 2015

StateForeclosure Rate (%)Rank
United States 2.09%
Alabama 1.39% 22
Alaska 0.71% 4
Arizona 0.79% 7
Arkansas 1.60% 26
California 0.91% 13
Colorado 0.68% 3
Connecticut 3.06% 45
Delaware 2.73% 40
District of Columbia 3.29% 47
Florida 4.24% 49
Georgia 1.33% 21
Hawaii 3.20% 46
Idaho 0.99% 14
Illinois 2.81% 43
Indiana 2.27% 35
Iowa 1.47% 23
Kansas 1.51% 24
Kentucky 2.07% 31
Louisiana 1.87% 29
Maine 3.43% 48
Maryland 2.77% 42
Massachusetts 2.22% 32
Michigan 1.01% 15
Minnesota 0.85% 9
Mississippi 1.73% 27
Missouri 1.10% 16
Montana 0.76% 5
Nebraska 0.76% 5
Nevada 2.73% 40
New Hampshire 1.27% 19
New Jersey 7.31% 51
New Mexico 2.92% 44
New York 5.31% 50
North Carolina 1.30% 20
North Dakota 0.58% 1
Ohio 2.43% 37
Oklahoma 2.25% 34
Oregon 2.22% 32
Pennsylvania 2.51% 38
Rhode Island 2.42% 36
South Carolina 2.05% 30
South Dakota 0.87% 11
Tennessee 1.14% 17
Texas 0.89% 12
Utah 0.80% 8
Vermont 2.60% 39
Virginia 0.85% 9
Washington 1.78% 28
West Virginia 1.18% 18
Wisconsin 1.55% 25
Wyoming 0.58% 1

Change in Foreclosure Rate

Foreclosure Rate (%)
StateQ3 2004Q2 2006Q2 2007Q3 2008Q2 2009Q2 2010Q3 2011Q2 2012Q2 2013Q2 2014Q2 2015
United States 1.1% 1.0% 1.4% 3.0% 4.3% 4.6% 4.4% 4.3% 3.3% 2.5% 2.1%
Alabama 1.2% 0.9% 1.1% 1.5% 2.0% 2.1% 2.0% 2.1% 1.8% 1.4% 1.4%
Alaska 0.4% 0.4% 0.5% 0.9% 1.2% 1.4% 0.9% 1.2% 1.1% 0.9% 0.7%
Arizona 0.6% 0.2% 0.8% 3.9% 6.2% 5.7% 3.9% 3.2% 1.5% 0.9% 0.8%
Arkansas 1.1% 1.0% 0.9% 1.3% 1.8% 2.1% 1.9% 2.2% 2.4% 1.7% 1.6%
California 0.2% 0.3% 1.1% 3.9% 5.8% 4.8% 3.7% 3.1% 1.6% 1.1% 0.9%
Colorado 1.1% 1.2% 1.6% 2.1% 2.7% 2.7% 2.1% 1.9% 1.2% 0.9% 0.7%
Connecticut 0.7% 0.6% 1.1% 2.0% 3.2% 4.0% 4.8% 5.4% 5.0% 4.0% 3.1%
Delaware 1.2% 0.9% 1.2% 2.1% 2.9% 3.8% 4.0% 3.4% 3.3% 3.0% 2.7%
District of Columbia 0.7% 0.3% 0.6% 1.8% 2.9% 3.0% 3.1% 2.9% 2.6% 2.6% 3.3%
Florida 0.8% 0.5% 1.4% 7.3% 12.0% 14.0% 14.5% 13.7% 10.6% 6.9% 4.2%
Georgia 1.3% 1.2% 1.4% 2.3% 3.4% 3.7% 3.2% 3.0% 2.2% 1.5% 1.3%
Hawaii 0.3% 0.2% 0.7% 1.7% 3.8% 4.7% 4.7% 4.7% 4.4% 3.9% 3.2%
Idaho 1.1% 0.5% 0.5% 1.6% 3.2% 3.7% 2.8% 2.9% 2.2% 1.3% 1.0%
Illinois 1.4% 1.3% 1.8% 3.5% 4.7% 6.0% 7.3% 7.1% 5.4% 3.7% 2.8%
Indiana 2.8% 2.8% 3.0% 3.6% 4.3% 4.5% 4.9% 4.6% 3.5% 2.5% 2.3%
Iowa 1.3% 1.4% 1.7% 2.0% 2.5% 2.8% 2.8% 2.7% 2.3% 1.6% 1.5%
Kansas 1.4% 1.3% 1.3% 1.6% 2.1% 2.3% 2.4% 2.3% 1.9% 1.5% 1.5%
Kentucky 2.0% 1.7% 1.9% 2.5% 3.0% 3.3% 3.9% 3.8% 2.9% 2.2% 2.1%
Louisiana 1.6% 1.5% 1.7% 2.1% 2.7% 3.4% 3.5% 3.4% 2.7% 2.1% 1.9%
Maine 0.9% 1.1% 1.8% 3.2% 4.2% 4.7% 5.7% 5.7% 5.6% 4.5% 3.4%
Maryland 0.9% 0.4% 0.7% 2.2% 3.7% 4.0% 3.7% 4.9% 4.2% 3.2% 2.8%
Massachusetts 0.4% 0.6% 1.3% 2.1% 3.2% 3.2% 2.9% 3.0% 2.6% 2.0% 2.2%
Michigan 1.7% 1.9% 2.8% 3.5% 4.2% 4.5% 3.3% 2.8% 1.9% 1.2% 1.0%
Minnesota 0.6% 0.9% 1.6% 2.7% 3.4% 3.4% 2.7% 2.3% 1.5% 0.9% 0.9%
Mississippi 2.1% 1.7% 1.7% 2.1% 2.7% 3.0% 3.3% 3.4% 2.3% 1.7% 1.7%
Missouri 1.0% 0.9% 1.1% 1.5% 2.0% 2.1% 2.0% 2.0% 1.5% 1.1% 1.1%
Montana 0.7% 0.5% 0.6% 0.9% 1.6% 1.9% 1.8% 1.7% 1.2% 0.9% 0.8%
Nebraska 1.0% 1.0% 1.2% 1.6% 1.8% 1.8% 1.5% 1.4% 1.1% 0.7% 0.8%
Nevada 0.6% 0.5% 1.6% 5.6% 9.1% 10.3% 7.9% 6.1% 5.2% 3.3% 2.7%
New Hampshire 0.4% 0.5% 1.0% 1.7% 2.3% 2.5% 2.4% 2.4% 1.8% 1.4% 1.3%
New Jersey 1.1% 0.8% 1.2% 3.1% 5.0% 6.3% 8.1% 7.7% 8.0% 8.1% 7.3%
New Mexico 1.4% 0.9% 0.8% 1.5% 2.6% 3.1% 3.9% 4.1% 3.6% 2.9% 2.9%
New York 1.1% 0.9% 1.4% 2.6% 3.6% 4.6% 5.7% 6.5% 6.1% 5.9% 5.3%
North Carolina 1.5% 1.1% 1.0% 1.4% 1.9% 2.3% 3.1% 3.0% 2.1% 1.4% 1.3%
North Dakota 0.5% 0.5% 0.7% 0.9% 1.0% 1.0% 1.1% 1.1% 0.9% 0.7% 0.6%
Ohio 3.3% 3.1% 3.6% 3.9% 4.5% 4.8% 4.9% 4.9% 3.7% 2.9% 2.4%
Oklahoma 1.8% 1.7% 1.7% 2.1% 2.5% 3.0% 3.2% 3.4% 3.1% 2.4% 2.3%
Oregon 0.8% 0.4% 0.5% 1.3% 2.6% 3.3% 3.7% 3.9% 3.5% 2.7% 2.2%
Pennsylvania 1.8% 1.5% 1.5% 2.1% 2.6% 3.0% 3.4% 3.9% 3.4% 2.8% 2.5%
Rhode Island 0.4% 0.7% 1.5% 3.2% 4.1% 3.4% 4.3% 3.9% 3.4% 2.8% 2.4%
South Carolina 2.3% 1.6% 1.5% 2.0% 3.1% 3.5% 4.4% 4.3% 3.5% 2.4% 2.1%
South Dakota 0.8% 0.8% 1.0% 1.2% 1.6% 1.8% 1.6% 1.5% 1.2% 0.9% 0.9%
Tennessee 1.5% 1.2% 1.2% 1.6% 2.2% 2.2% 2.6% 2.4% 1.8% 1.3% 1.1%
Texas 1.3% 1.1% 1.2% 1.4% 1.8% 2.0% 1.9% 1.9% 1.5% 1.0% 0.9%
Utah 1.5% 0.7% 0.6% 1.4% 2.8% 3.4% 2.4% 2.2% 1.7% 1.1% 0.8%
Vermont 0.6% 0.7% 0.9% 1.6% 2.2% 2.7% 3.4% 3.9% 3.7% 3.0% 2.6%
Virginia 0.4% 0.3% 0.5% 1.5% 2.2% 2.0% 1.9% 1.7% 1.2% 0.9% 0.9%
Washington 0.8% 0.4% 0.5% 1.2% 2.5% 2.6% 2.2% 2.7% 2.7% 2.0% 1.8%
West Virginia 1.5% 1.0% 1.1% 1.6% 2.1% 2.1% 2.1% 2.0% 1.5% 1.1% 1.2%
Wisconsin 1.1% 1.1% 1.6% 2.6% 3.6% 3.4% 3.5% 3.2% 2.5% 1.7% 1.6%
Wyoming 0.6% 0.4% 0.4% 0.6% 1.2% 1.6% 1.0% 0.8% 0.8% 0.5% 0.6%

Definition

Percentage of mortgage loans in foreclosure, Quarter 2, 2015.

Source

National Delinquency Survey: Second Quarter 2015. Washington, DC: Mortgage Bankers Association, 2015.

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