INDIANAPOLIS — Affordability is top of mind for many Hoosiers right now, but a new report shows that affordability for homeowners is on the decline.
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Indiana was recently ranked the worst state for foreclosure filings in the U.S., according to a new report from ATTOM, a national property data company. Two cities — Indianapolis and Evansville — also ranked in the top five of all U.S. major metropolitan areas.
It's a ranking many experts WRTV spoke with said is both a distressing sign now and a cause for future issues.
“Your home, what that is to not only yourself and your economic situation personally but also to your family and your neighborhood and your community," Doug McCoy, Director of the Center for Real Estate Studies at IU, stated.
“That loss of that home is substantial and far-reaching," Amy Nelson, Executive Director of the Fair Housing Center of Central Indiana, said.
One foreclosure for every 1,579 housing units in the state.
“That means certain folks are suffering," McCoy said. "It's such serious business.”
That's a 60% increase from just a few months ago in November.
"Unfortunately, it wasn't a complete surprise," Nelson explained. “We have been tracking that Indiana has been in the top 10 for its foreclosure filing rates over the past two years, but always just seeing us as the highest in the country in jarring.”
That jump to the top comes for a number of reasons.
“Individuals are just struggling to keep up with rising housing costs. That might be their escrow payments… cost of home insurance, property taxes," Nelson said. "Wages just simply haven’t kept up with those rising costs."
“We tend to have a lot of workers that aren't necessarily working for a high wage and then they experience, like a lot of us are, rising costs," McCoy stated.
For McCoy, this kind of data shows one thing.
“We have a fairly large number of folks that are in those situations - lower wage earnings, less educated - that are trying to afford a home," he said.
Experts warned the number of foreclosure filings could continue to rise, not just in Indiana but across the country, as homeowners continue to deal with rising prices for many day-to-day items and other things.
They said that could impact not only individuals and families but entire communities.
“It’s something you don’t want to continue," McCoy stated. "Because it’s just going to lead to instability and crime and lower real estate values in those areas.”
“It’s the loss of generational wealth building," Nelson said. "These individuals might have been long-term members of their neighborhoods, and that loss of that home, that roof over their head, is substantial and far-reaching.”
Both McCoy and Nelson said that if you are facing foreclosure to reach out for help as soon as possible.
If you need assistance, you can go to the Fair Housing Center of Central Indiana's site here.
You can also reach out to the Indiana Foreclosure Prevention Network at this link.
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Casey Zanowic is the In Your Community reporter for North Side Indy. She joined WRTV in July of 2025. Casey has a passion for storytelling and is ready to showcase impactful stories that make a difference in her community. Share your story ideas and important issues with Casey by emailing her at casey.zanowic@wrtv.com.
