Tuesday, February 2, 2021

U S. Housing Vacancy Rate Declined in Past Decade

Youngstown, Ohio and Flint, Michigan are two cities in which planners have explicitly acknowledged the need to adjust to declining populations. When an owner stops paying property taxes, local governments initiate a tax-foreclosure process by placing a tax lien on the property. The lien is intended both to recover taxes owed and to prompt the owner to take responsibility for the property. Owners typically have the opportunity to pay off the lien, but the property reverts to the municipality if the owner has walked away from it.

number of abandoned homes in america

Jackson—Mississippi’s largest city and its capital—sits in Hinds County, which is filled with rolling terrain and pine forests. The Jackson metropolitan area is home to a fifth of the state’s population. Dampening the area’s housing market is high unemployment that makes it hard for would-be buyers to get mortgages. The local housing appreciation rate has notably lagged the national average for the past decade. Aroostook County, the northernmost county in Maine, is the largest county east of the Mississippi and bigger than Rhode Island and Connecticut combined. Its housing is some of the most affordable in Maine, but more than a quarter of the local housing stock is vacant.

Abandoned in the United States

Part of the problem was that many of them already had long been sitting vacant by the time they went into foreclosure. They then arrived on the market in a state of disrepair, making them harder to sell even at a steep loss, which further dragged down already-sinking housing prices. One of Watertown’s ZIP codes was in the top five nationwide at the beginning of 2021 in terms of the rate of owner evictions. Zillow ranks the real estate climate in Daphne, Alabama, as a market that’s been witnessing a solid and consistent rise in property values.

number of abandoned homes in america

Research links foreclosed, vacant, and abandoned properties with reduced property values, increased crime, increased risk to public health and welfare, and increased costs for municipal governments. The absence of universal definitions of vacancy and abandonment complicates efforts to assess the number of vacant and abandoned properties nationally. Government Accountability Office reported in 2011 that vacant residential units, not including those used seasonally or by migrant workers, increased from 7 million in 2000 to 10 million in 2010.

Missouri: St. Louis city

Stacker believes in making the world’s data more accessible through storytelling. To that end, most Stacker stories are freely available to republish under a Creative Commons License, and we encourage you to share our stories with your audience. In 2018, an official inventory found 98 properties scattered around Glens Falls, New York—some very nice and in good shape—abandoned or unoccupied. More than half were bank-owned foreclosures or going through the process of bank foreclosure.

The population is stagnant, and about a quarter of county residents leave to find work. More than 40% of homes are vacant in Arizona’s Navajo County, which has been grappling with the economic fallout from the closure of the Kayenta Coal Mine and the Cholla Power Plant. Another study, from 2010, estimated vacancies in Philadelphia reduced real estate value in the city by $3.6 billion—or $8,000 per household. By keeping owner-occupants in their homes, foreclosure prevention programs can avoid many of the problems such as code violations that arise once a property becomes vacant. Demolition costs can vary widely based on several factors, including whether the home is attached to occupied residences, such as a Baltimore row house that can cost $40,000 to demolish, or whether it contains asbestos or lead-based paint. GAO states that demolition typically costs between $4,800 and $7,000 per property.

America's Fastest 19 Shrinking Big Cities

Many more are at risk and could soon be added to the growing unoccupied list. In 2020, Avon Park, Florida, was ranked as the worst place to live in the state, according to data from the FBI, Centers for Disease Control and Prevention, and the Census Bureau. Avon Park had one of the lowest median home values when compared with the other lowest values in every state, and the second-highest five-year average unemployment. Keep reading to find out about the metro areas where residents are most likely to live next to an empty house, and what factors are contributing to the vacancies. That means currently, in the United States, there are roughly 5 million abandoned homes that need repairs.

number of abandoned homes in america

It is the site of several industrial projects underway, and a big local employer is warehouse distribution centers. The local economy of rural Grant County, between Seattle and Spokane, is made up of ranching and agriculture. The county is the site of the Grand Coulee hydropower facility on the Columbia River, the biggest power station in the nation. Its inexpensive electricity, transportation, reasonably priced land, and high-speed fiber-optic network have made Grant County attractive to software and manufacturing firms.

Marinette County, where Marinette is located, was one of four counties selected by the Wisconsin Housing and Economic Development Authority for a new program that aims to create affordable housing solutions for workers. The fact that more than four out of five homes are available only part-time contributes to the problem. Unlike other metro areas on this list, the population of Bluffton, South Carolina, more than doubled over the last decade. To match the population growth, housing units increased by 109% over the same period, according to data from the Census Bureau. The Hilton Head Island-Bluffton region has a large seasonal community, which accounts for a large portion of unoccupied units.

number of abandoned homes in america

More than 23,000 of the metro area’s unoccupied homes are owned for occasional, recreational, or seasonal use. The Press of Atlantic City in 2019 described a town trapped in the shadow of a dying casino industry, where trash-strewn streets, crime, blight, and rows of empty houses are the norm. That town was the once-vibrant tourist destination of Atlantic City, New Jersey. Another town in Atlantic County, Pleasantville, recently implemented a program to minimize health and public safety risks created by abandoned homes.

The mayor recently said the booming local economy has led to increasing rents and housing costs. Vacancies serve as a huge drag on the local housing market by diminishing the quality of life and the value of nearby properties. They also can cost millions for policing, cleanup, or demolition—and they reached epidemic proportions following the Great Recession that lasted from December 2007 through June 2009.

number of abandoned homes in america

Lewinski said she expects that ongoing health and safety issues for residents will increase the number of empty homes. “The water crisis did not cause the high vacancy rate in Flint, but it will certainly exacerbate it,” Blomquist said. Some parts of the house have been hit harder by the march of time than others. You can see by the deterioration of the interior that is has been abandoned for many years, and exposed to the elements over time.

The decor earns this abandoned farmhouse's spot as one of the creepiest abandoned places in the country. As a Premium user you get access to background information and details about the release of this statistic. As a Premium user you get access to the detailed source references and background information about this statistic. To use individual functions (e.g., mark statistics as favourites, set statistic alerts) please log in with your personal account. All Credit Builder Accounts made by Lead Bank, Member FDIC, Equal Housing Lender, Sunrise Banks, N.A. Member FDIC, Equal Housing Lender or SouthState Bank, N.A. Member FDIC, Equal Housing Lender. All loans are subject to ID verification and consumer report review and approval.

number of abandoned homes in america

Much of the housing in Ouachita Parish in northern Louisiana was built in the 1940s through the 1960s. Local real estate appreciation rates have tracked the national average over the last 10 years but slowed more recently and trail nearly all other areas of the state. In Richmond County, Ga., which includes the city of Augusta, 1 in 5 houses is vacant. Vacant homes and apartments are a drag on its real estate market, pulling prices down. Rural areas and small towns have seen vacancy rates nearly double those of metropolitan areas; especially in Appalachia, the South, and the Great Plains. With resurgent growth, some locales have seen vacancies return to pre-recession levels, while others have had far slower recoveries.

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