Top 100 U.S. Zip Codes Hit Hardest by Foreclosures
January 23rd, 2012Via: CNN:
The housing collapse has dramatically changed the nation’s foreclosure landscape.
Neighborhoods boasting modern homes, cul-de-sacs and tree-lined streets in and around Western cities now dominate the list of the top 100 U.S. zip codes hit hardest by foreclosures and claim and comprise all of the top 10 spots, according to data generated for CNNMoney by RealtyTrac. In 2011, Western states claimed 82 of the 100 worst hit zip codes with 38 in California and another 28 in Nevada.
That’s quite a departure from when CNNMoney first looked at the top foreclosure zip codes in June 2007. Back then, the auto industry’s ills had turned inner-city neighborhoods in Detroit, Cleveland and Indianapolis into foreclosure ground zero, with the three cities claiming 25 of the nation’s 100 hardest hit neighborhoods.
These older working-class neighborhoods were particularly blighted with vacant, repossessed homes lining the streets. In fact, they claimed 6 out of the list’s top 10 spots.
These days, however, many of the worst hit zip codes are communities that were built in the past decade or two in and around once-rapidly growing metro areas like Phoenix, San Bernardino, Calif. and Las Vegas, now the poster child of the foreclosure mess.
In fact, Las Vegas claims all five of the top five hardest hit zip codes. The number one spot goes to a neighborhood in North Las Vegas (in zip code of 89031) that recorded 2,469 foreclosure filings last year, according to RealtyTrac.
In California, the towns of Lancaster (93535), in the central part of the state, and Fontana (92336), near San Bernardino, claimed sixth and seventh place — the highest finishers for any zip codes outside of Nevada.
As far as regions go, the South claimed the second highest number of hardest hit zips with 14. Georgia claimed 12 of those neighborhoods, including one in Atlanta that took 10th place. Interestingly, not a single Northeastern zip code made RealtyTrac’s top 100 list.
