Indiana has one of nation’s highest foreclosure rates

Hoosiers are facing foreclosures at increasing rates, in both urban and rural communities.

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 number of foreclosure filings. The only states with higher rates are Florida, New Jersey, Nevada, South Carolina and Delaware.

Amy Nelson, executive director of the Fair Housing Center of Central Indiana, says that foreclosures across the state are trending back toward 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.

Not all neighborhoods are equally 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 who have the capital to purchase dozens of residences on the same block. Nelson said many of those companies do not invest in local communities.