Top 10 Zombie Foreclosure Zip Codes
Here are the top 10 zip codes with the highest zombie foreclosure rates, where there are 10 or more pre-foreclosure properties:
- 61605 – Peoria, IL: 73.1 percent
- 61603 – Peoria, IL: 62.8 percent
- 85017 – Phoenix, AZ: 50 percent
- 85016 – Phoenix, AZ: 46.2 percent
- 66604 – Topeka, KS: 45.5 percent
- 46036 – Elwood, IN: 42.9 percent
- 88203 – Roswell, NM: 42.9 percent
- 33931 – Fort Myers, FL: 42.1 percent
- 44485 – Warren, OH: 41.7 percent
- 61520 – Canton, IL: 41.2 percent
These zip codes are primarily located in the Midwest and Southwest regions of the U.S., with Peoria, Illinois, and Phoenix, Arizona, having multiple entries on the list.
State-Level Trends
The report also identifies key trends at the state level. The following states have experienced the largest percentage decreases in zombie properties from Q3 2023 to Q3 2024, among those with at least 50 zombie homes last year:
- Connecticut: down 79 percent, from 87 to 18
- Oklahoma: down 78 percent, from 199 to 43
- Iowa: down 78 percent, from 290 to 64
- North Carolina: down 74 percent, from 191 to 50
- New Mexico: down 74 percent, from 95 to 25
These states show significant declines in zombie foreclosures, indicating a positive trend in their housing markets.
Impact on Local Housing Markets
Zombie foreclosures can severely impact local housing markets, often leading to blight and decay in neighborhoods. However, the rarity of these properties means that most markets face minimal impact. The ongoing decline in zombie foreclosures is a positive indicator for the overall health of the U.S. housing market.
Conclusion
In conclusion, while some areas still contend with zombie foreclosures, the overall trend is positive for sellers. As the market improves, now is an excellent time to list your home. Take advantage of these favorable conditions to maximize your investment!
