Abandoned residential properties may collectively be worth over $150 billion, according to a new study by the data provider PropertyChecker.
The study observed there are roughly 15 million vacant homes across the US, with over 6.2 million of these properties being classified as persistently vacant. The so-called “zombie foreclosures” — homes vacated during the foreclosure process — numbered over 7,000 as of the end of the fourth quarter of 2024.
Unlike seasonal or transitional vacancies, the properties that are considered persistently vacant are mostly in a state of neglect. PropertyChecker offered a conservative average value of $150,000 per abandoned property, accounting for depreciation due to structural damage, deterioration and unresolved liens – and these properties may need significant repairs and renovation before becoming viable again.
PropertyChecker also theorized that revitalizing just a portion of these abandoned properties could help spur both housing market recovery and economic development.
“Abandoned properties aren’t just eyesores — they’re an estimated $150 billion gap in our housing economy,” said Elena Novak, the lead real estate analyst and researcher at PropertyChecker. “Revitalizing even a fraction of these properties could unlock significant housing potential and stimulate neighborhood renewal.”
why aren’t these properties given to the local officers or Alderpeople in their areas. I would like the list in Illinois.
how can we get a list in central Ohio?
How can I get a list for Georgia?
I would likea list for Down Town Jersey City New Jersey
The so-called “zombie foreclosures” — homes vacated during the foreclosure process — numbered over 7,000 as of the end of the fourth quarter of 2024.
These must be owned by either a person or an entity
How can I get a list of these homes