Top Cities for Foreclosures
02Dec06
RealtyTrac released an interesting chart of the top 10 metros with the worst foreclosure rate in the 3rd quarter of 2006. As expected, many high growth areas that subsequently have busted are in the top 10. Cities like Las Vegas and Miami came as no surprise.
| Metro Area | % of Households in Foreclosure | # Households for Every Foreclosure | Foreclosure Rate to National Average |
|---|---|---|---|
| 1. Detroit, MI | 1.25% | 80 | 4.5 |
| 2. Fort Lauderdale, FL | 1.14% | 88 | 4.1 |
| 3. Denver, CO | 1.11% | 90 | 4.0 |
| 4. Miami, FL | 1.10% | 91 | 4.0 |
| 5. Dallas, TX | 1.01% | 99 | 3.7 |
| 6. Indianapolis, IN | 1.00% | 100 | 3.6 |
| 7. Fort Worth, TX | 0.99% | 101 | 3.6 |
| 8. Atlanta, GA | 0.94% | 107 | 3.4 |
| 9. Las Vegas, NV | 0.87% | 115 | 3.2 |
| 10. Memphis, TN | 0.70% | 144 | 2.5 |
| % of Households in Foreclosure: Total foreclosures divided by the total households in a metro. | |||
| # of Households Per Foreclosure: Total households divided by the total foreclosures in a metro (a.k.a. “Foreclosure Rate”). | |||
| Foreclosure Rate to National Average: Foreclosure rate in a metro divided by the national average foreclosure rate. | |||
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