One Florida county’s foreclosures ranked among the worst 30 nationally during the first half of 2022

• Nearly 500 homes in Osceola County faced foreclosure in the first half of 2022
• No other Florida counties were in the worst 30 nationally
• New Jersey dominated the national list with 7 of the top 10 counties making the list

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.

Osceola County, Florida – located in the Orlando-Kissimmee-Sanford metropolitan area – has one of the highest foreclosure rates of any U.S. county. According to a recent report from Attom, a total of 478 housing units were in foreclosure in the first half of 2022, up 239.0% from the first half of last year.

The foreclosure rate in Osceola County of one in every 324 homes ranks as the 29th 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 Osceola County has an income of $55,538 a year and the typical home is worth $221,600. For context, the typical American household’s annual income is $64,994, and the national median home value is $229,800.