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Sunday, November 24, 2024

Analysis: Washington metro area has highest, lowest foreclosure rates in Maryland’s urban areas

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Prince George’s County in the Washington-Arlington-Alexandria Metropolitan Statistical Area (MSA) recorded the highest foreclosure rate for Maryland MSAs during the first quarter of the year, according to an ATTOM Data Solutions analysis of property data.

One in 221 properties in Prince George’s County started the foreclosure process during the first quarter of the year. But Frederick County, which is also part of the Washington metro area, had the lowest foreclosure rate for Maryland MSAs -- with 1 in 1,115 properties in foreclosure.

Baltimore City had the second highest foreclosure rate for Maryland’s urban areas (1 in 233 properties), and Calvert County was third (1 in 264 properties in foreclosure).

The data shows 1,499 Prince George’s County properties with a foreclosure filing during the first three months of 2018. The county has more than 330,000 housing units. The foreclosure rate in the county is down 3.6 percent from the end of 2017 and down 0.13 percent from a year ago.

In all of Maryland, 6,286 properties started the foreclosure process in the first quarter – a 7.42 percent decrease over the fourth quarter of 2017 and a 25.65 percent decrease from this time last year.

Metropolitan statistical area foreclosure rates

Metro Statistical AreaCountyPopulationHousing UnitsQ1 2018 Properties with Foreclosure FilingsForeclosure Rate (Housing Units Per Foreclosure Filing)Change from Q4 2017 (%)Change from Q1 2017 (%)

Washington-Arlington-Alexandria,

DC-VA-MD-WV

Prince George's County897,693330,7081,499221-3.60-0.13
Baltimore-Columbia-Towson, MDBaltimore City621,000296,9231,273233-7.49-24.99
Washington-Arlington-Alexandria,

DC-VA-MD-WV

Calvert90,52734,61313126465.82-16.03
Washington-Arlington-Alexandria,

DC-VA-MD-WV

Charles154,35758,0141673548.61-47.77
Baltimore-Columbia-Towson, MDBaltimore 825,666337,0319453575.35-29.99
California-Lexington Park, MDSaint Marys110,67543,276114380-13.6414.00
Baltimore-Columbia-Towson, MDHarford249,77698,277253388-15.10-45.47
Salisbury, MD-DEWicomico101,52741,911107392-12.308.08
Baltimore-Columbia-Towson, MDQueen

Anne's County

48,71220,75449424-28.994.26
Hagerstown-Martinsburg, MD-WVWashington149,57161,199143428-29.90-39.41
Baltimore-Columbia-Towson, MDAnne

Arundel

559,737219,319506433-10.44-17.18
Easton, MDTalbot37,66820,1104544750.0028.57
Cumberland, MD-WVAllegany73,06033,21171468-5.337.58
Salisbury, MD-DESomerset25,89911,24422511-38.89-8.33
Baltimore-Columbia-Towson, MDCarroll167,53563,123103613-27.46-43.41
Cambridge, MDDorchester32,45116,70027619-25.00-34.15
Baltimore-Columbia-Towson, MDHoward308,447115,00318163511.73-30.65
Philadelphia-Camden-Wilmington,

PA-NJ-DE-MD

Cecil102,17542,26962682-39.81-13.89
Salisbury, MD-DEWorcester51,44155,82257979-24.00-51.69
Washington-Arlington-Alexandria,

DC-VA-MD-WV

Montgomery1,026,371385,485390988-15.58-45.45
Washington-Arlington-Alexandria,

DC-VA-MD-WV

Frederick243,46593,645841,115-45.10-71.13
Source: ATTOM Data Solutions

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