8/3/2019 Analysis of Economic Impact of Foreclosures on NYS Economy

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Empire Justice Center September 2011 Page 1

County

Median Value

of Owner-Occupied

Housing

# of Estimated

Foreclosures

DIRECT IMPACT (Decrease

in Value of Foreclosed

Homes)

INDIRECT IMPACT

(Value Loss of Impacted

Homes*)

Total Property

Value Loss Tax Loss

Additional Costs to Local

Governments

Albany 192,500 3,969 $168,086,389 $343,813,068 $511,899,456 $3,122,587 $76,319,555

Allegany 65,100 737 $10,549,468 $10,549,468 $64,352 $14,163,924

Bronx 369,600 8,698 $707,268,200 $1,446,684,954 $2,153,953,154 $13,139,114 $167,257,726

Brooklyn County547,200 22,727 $2,736,002,651 $5,596,369,058 $8,332,371,709 $50,827,467 $437,023,151

Broome 95,600 2,280 $47,956,788 $47,956,788 $292,536 $43,845,620

Cattaraugus 76,000 1,124 $18,789,996 $18,789,996 $114,619 $21,609,619

Cayuga 95,000 1,182 $24,700,120 $24,700,120 $150,671 $22,725,292

Chautauqua 77,800 1,693 $28,977,738 $28,977,738 $176,764 $32,555,090

Chemung County 84,000 1,113 $20,570,743 $20,570,743 $125,482 $21,404,482

Chenango 84,900 791 $14,770,703 $14,770,703 $90,101 $15,206,438

Clinton 112,400 938 $23,197,990 $23,197,990 $141,508 $18,039,233

Columbia 212,200 920 $42,937,169 $42,937,169 $261,917 $17,685,691

Cortland 91,200 686 $13,756,626 $13,756,626 $83,915 $13,184,119

Delaware 126,300 660 $18,346,436 $18,346,436 $111,913 $12,696,452

Dutchess County 324,400 5,860 $418,210,771 $855,431,123 $1,273,641,894 $7,769,216 $112,680,402

Erie County 112,800 8,964 $222,454,656 $455,020,887 $677,475,543 $4,132,601 $172,371,880

Essex 146,300 560 $18,017,798 $18,017,798 $109,909 $10,764,439Franklin 85,200 471 $8,830,459 $8,830,459 $53,866 $9,058,947

Fulton 91,300 1,025 $20,578,565 $20,578,565 $125,529 $19,700,549

Genesee 98,200 791 $17,099,460 $17,099,460 $104,307 $15,219,659

Greene 179,100 989 $38,956,443 $38,956,443 $237,634 $19,011,559

Hamilton 170,700 34 $1,268,432 $1,268,432 $7,737 $649,483

Herkimer 86,200 1,005 $19,059,020 $19,059,020 $116,260 $19,325,348

Jefferson County 108,900 885 $21,203,806 $21,203,806 $129,343 $17,018,448

Lewis 95,400 256 $5,373,650 $5,373,650 $32,779 $4,923,286

Livingston County 110,400 794 $19,289,388 $19,289,388 $117,665 $15,271,560

Madison 105,400 1,152 $26,701,980 $26,701,980 $162,882 $22,143,021

Manhattan County 126,700 2,416 $67,341,776 $137,744,542 $205,086,318 $1,251,027 $46,456,017

Monroe 91,900 8,833 $178,580,194 $365,277,669 $543,857,863 $3,317,533 $169,844,621

Montgomery 490,300 901 $97,147,842 $97,147,842 $592,602 $17,318,301Nassau 800,400 26,341 $4,638,267,373 $9,487,365,080 $14,125,632,453 $86,166,358 $506,503,812

Niagara 94,900 2,570 $53,647,858 $109,734,255 $163,382,113 $996,631 $49,410,607

Oneida 97,000 2,872 $61,293,726 $125,373,531 $186,667,258 $1,138,670 $55,230,415

Onondaga 119,600 5,827 $153,324,114 $313,617,506 $466,941,621 $2,848,344 $112,050,372

Ontario 125,700 1,216 $33,641,032 $33,641,032 $205,210 $23,392,038

Orange 315,000 9,116 $631,760,651 $1,292,237,696 $1,923,998,347 $11,736,390 $175,297,627

Orleans 84,600 608 $11,313,486 $11,313,486 $69,012 $11,688,536

Oswego 84,900 2,018 $37,697,607 $37,697,607 $229,955 $38,809,684

Otsego 123,900 820 $22,347,954 $22,347,954 $136,323 $15,765,236

Putnam 421,200 1,996 $184,945,269 $184,945,269 $1,128,166 $38,378,578

Queens 470,500 27,777 $2,875,219,782 $5,881,131,371 $8,756,351,153 $53,413,742 $534,128,115

Rensselaer 162,700 2,759 $98,757,281 $98,757,281 $602,419 $53,053,689

Rockland 481,300 4,947 $523,821,518 $1,071,453,105 $1,595,274,623 $9,731,175 $95,126,494Saint Lawrence 76,800 1,051 $17,760,878 $17,760,878 $108,341 $20,213,300

Analysis of Economic Impact of Foreclosures on NYS Economy

8/3/2019 Analysis of Economic Impact of Foreclosures on NYS Economy

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