Hoosiers are face foreclosures at increasing rates, and it’s people in both urban and rural areas.
A new report from property tax company ATTOM shows that in November, Indiana had one of the highest foreclosure rates in the country. Out of all states, Indiana ranks sixth for the highest numbers of residents evicted from homes. The only states with higher rates are Florida, New Jersey, Nevada, South Carolina and Delaware.
Amy Nelson, the executive director of Fair Housing Center of Central Indiana, says that foreclosures across the state are trending back towards pre-COVID numbers.
“Very often it's rural or smaller counties, and that tells us that those counties are struggling in equal measure to our urban center," Nelson said.
All neighborhoods aren’t as susceptible to foreclosure. Data from the FHCCI shows foreclosures in Indianapolis are concentrated in communities of color and in areas where home prices are lower.
Foreclosures also open the housing market to out-of-state mega-investors that have capital to purchase dozens of residences on the same block. Nelson said many of those companies do not invest in local communities.
“The rent that is paid goes out of state. They don't make repairs timely. They don't treat their tenants very well,” Nelson said.”
According to the most recent month of data, Indiana counties hardest hit by foreclosures are Martin, Pike, Perry and Lake counties.
Contact WFYI Digital Producer and Reporter Jeremy Reuben at jreuben@wfyi.org.
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