Chicago area and East Coast state markets most at risk of pandemic’s ongoing impact. Western states have most favorable market conditions.
ATTOM Data Solutions’ Q2 Coronavirus Report Spotlights Markets More & Less Vulnerable to Ongoing Pandemic Impacts
ATTOM Data Solutions’ Q2 2021 Coronavirus Report indicates that housing markets within the East Coast and parts of Illinois were the most at risk markets to ongoing impacts of the COVID pandemic during Q2 2021.
Most vulnerable housing markets tended to cluster around the Chicago area, central Florida, New Jersey and Delaware. Of the 37 counties most vulnerable to pandemic impacts, seven counties were in metro Chicago, four were near New York City, three were in Delaware and four counties were in central Florida.
Most Vulnerable Counties
Here’s the breakdown, according to ATTOM, of the most vulnerable counties to the ongoing impacts of the pandemic:
- Chicago Metro Area
- Counties of Cook, De Kalb, Kane, Kendall, McHenry and Will
- New York Metro Area
- Counties of Ocean, Passaic, Orange and Sussex in New Jersey
- Central Florida Area
- Counties of Highlands (Sebring), Indian River (Vero Beach), Lake (outside of Orlando) and Osceola (Kissimmee)
- Delaware Area
- Counties of New Castle (Wilmington), Kent (Dover) and Sussex (Georgetown)
- Louisiana Area
- Bossier Parish (Shreveport), Livingston Parish (outside of Baton Rouge) and Tangipahoa Parish (north of New Orleans)
Additional counties also included among the most vulnerable to pandemic impacts were Atlantic County (Atlantic City NJ), Cumberland County (Vineland NJ), and Gloucester County (outside of Philadelphia PA), Mercer County (Trenton NJ) and Warren County (near Allentown PA.)
Most-At-Risk Counties Shared Higher Levels of Unaffordability and Underwater Mortgages
Counties within which homeowners consumed more than 30% of average local wages were considered to be the most vulnerable. Likewise, counties within which at least 15% of mortgages were underwater were considered to be at most risk of pandemic impacts.
These counties were sprinkled around the country in states such as Missouri, Illinois, Pennsylvania, Georgia along with Florida, New Jersey and Illinois.
Less Vulnerable Counties
The only housing markets within western counties among the top 50 most vulnerable to the pandemic during Q2 2021 were Butte County (Chico CA), Humboldt County (Eureka CA), and Mohave County (outside Las Vegas NV.
36 of the 50 counties considered by ATTOM to be the least vulnerable to pandemic-related problems were concentrated in the West, South and Midwest.
Thanks to ATTOM Data Solutions.