Last Updated: 12/22/10
Updated Foreclosure Maps - Indiana
- The average foreclosure rate across ZIP codes (with at least 50 loans) was 3.6 percent in 2010:3Q; the average foreclosure rate had been 2.2 percent in 2008:1Q. (See map of foreclosure rates [p. 1] and chart of foreclosure rate distributions [p. 2].)
- The foreclosure problem was worse for most ZIP codes in 2010 compared to 2008. About 85 percent of ZIP codes showed higher foreclosure rates in 2010 compared to 2008. (See foreclosure rate contrast map [p. 3].)
- The ZIP codes that had both the highest foreclosure rates in 2010 and 2008 were concentrated around Indianapolis, Gary and other parts of northwest Indiana.
- The average foreclosure rate for prime loans was 3.3 percent, and for non-prime loans it was 11.2 percent.
- Mortgage delinquency rates have increased across ZIP codes. The average delinquency rate rose by 2.1 percentage points between 2008 and 2010. (See map of delinquency rates [p. 4] and chart of delinquency rate distributions [p. 5].)
- About 11 percent of ZIP codes (with more than 50 mortgages) saw a decline in mortgage delinquency rates between 2008 and 2010. 89 percent of ZIP codes saw an increase in delinquency rates.
- The REO rate changed little between 2008 and 2010. About half of ZIP codes saw a rise in REO rates over the period, averaging an increase of less than a percentage point. (See REO rate contrast map [p. 6].)
- A little over half of ZIP codes experienced an increase in vacancy rates. The vacancy rate increased by an average of 0.75 percentage points in the ZIP codes where vacancies rose, and declined by 0.79 percentage points in the ZIP codes where vacancies fell. The percent of vacancies fell noticeably in the communities surrounding Fort Wayne and to the north of Indianapolis. (See vacancy rate contrast map [p. 7].)
