Special Report

Liberty County, Texas Has One of the Highest Foreclosure Rates in the Nation

The worst inflation in 40 years has led to cascading effects, with consumer sentiment declining and gross domestic product decreasing in the first quarter of this year. While the Federal Reserve has been raising rates to tame inflation, this has resulted in higher mortgage rates. Combined, these factors appear to be cooling the U.S. housing market after white-hot demand in the past two years sent prices skyward.

So far, the number of foreclosure filings in the first six months of the year is still slightly lower than it was in the same period in 2020. But these filings are up 153% from the first half of last year, according to property data provider Attom Data Solutions.

Home foreclosure filings include default notices, bank repossessions, and scheduled auctions and are used as a measure to gauge the health of housing markets at local, state, and national levels.

Liberty County, Texas – located in the Houston-The Woodlands-Sugar Land metropolitan area – has one of the highest foreclosure rates of any U.S. county. According to a recent report from Attom, a total of 104 housing units were in foreclosure in the first half of 2022. The foreclosure rate in Liberty County of one in every 319 homes ranks as the 24th highest of the more than 1,700 counties and county equivalents reviewed.

According to five-year estimates from the U.S. Census Bureau’s 2020 American Community Survey, the typical household in Liberty County has an income of $50,917 a year and the typical home is worth $115,300. For context, the typical American household’s annual income is $64,994, and the national median home value is $229,800.

 

Rank County Homes in foreclosure, 1st half 2022 Foreclosure rate (foreclosures per housing unit) Median household income ($) Median home value ($)
30 Winnebago County, Illinois 381 1:328 55,310 121,400
29 Osceola County, Florida 478 1:324 55,538 221,600
28 Mchenry County, Illinois 369 1:324 90,014 234,000
27 Lake County, California 106 1:323 49,254 238,000
26 Lake County, Indiana 667 1:322 57,530 156,100
25 Onslow County, North Carolina 262 1:321 51,560 162,400
24 Liberty County, Texas 104 1:319 50,917 115,300
23 Gates County, North Carolina 15 1:318 45,871 142,400
22 St. Clair County, Illinois 361 1:317 57,473 134,800
21 Grant County, Indiana 94 1:317 46,900 96,300
20 Cook County, Illinois 7,265 1:312 67,886 255,500
19 Campbell County, Wyoming 64 1:310 80,887 224,400
18 Atlantic County, New Jersey 436 1:303 63,680 216,600
17 Ocean County, New Jersey 988 1:298 72,679 286,700
16 Lexington County, South Carolina 430 1:297 62,740 163,200
15 Madison County, Illinois 403 1:294 64,045 138,500
14 Dorchester County, South Carolina 220 1:294 63,501 213,000
13 Sullivan County, Indiana 30 1:293 49,449 89,400
12 Kendall County, Illinois 155 1:290 96,854 243,700
11 Jones County, North Carolina 16 1:290 38,324 92,200
10 Warren County, New Jersey 164 1:283 83,497 265,700
9 Huron County, Ohio 91 1:280 55,041 131,600
8 Will County, Illinois 917 1:273 90,800 239,400
7 Sussex County, New Jersey 230 1:273 96,222 271,500
6 Gloucester County, New Jersey 454 1:258 89,056 224,300
5 Camden County, New Jersey 840 1:253 70,957 200,400
4 Burlington County, New Jersey 778 1:238 90,329 259,600
3 Salem County, New Jersey 124 1:224 64,234 185,700
2 Cuyahoga County, Ohio 3,100 1:199 51,741 137,800
1 Cumberland County, New Jersey 290 1:197 55,709 166,400

 

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