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.

Atlantic County, New Jersey - located in the Atlantic City-Hammonton metropolitan area - has one of the highest foreclosure rates of any U.S. county. According to a recent report from Attom, a total of 436 housing units were in foreclosure in the first half of 2022, up 198.6% from the first half of last year.

The foreclosure rate in Atlantic County of one in every 303 homes ranks as the 18th 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 Atlantic County has an income of $63,680 a year and the typical home is worth $216,600. For context, the typical American household's annual income is $64,994, and the national median home value is $229,800.


RankCountyHomes in foreclosure, 1st half 2022Foreclosure rate (foreclosures per housing unit)Median household income ($)Median home value ($)
30Winnebago County, Illinois3811:32855,310121,400
29Osceola County, Florida4781:32455,538221,600
28Mchenry County, Illinois3691:32490,014234,000
27Lake County, California1061:32349,254238,000
26Lake County, Indiana6671:32257,530156,100
25Onslow County, North Carolina2621:32151,560162,400
24Liberty County, Texas1041:31950,917115,300
23Gates County, North Carolina151:31845,871142,400
22St. Clair County, Illinois3611:31757,473134,800
21Grant County, Indiana941:31746,90096,300
20Cook County, Illinois7,2651:31267,886255,500
19Campbell County, Wyoming641:31080,887224,400
18Atlantic County, New Jersey4361:30363,680216,600
17Ocean County, New Jersey9881:29872,679286,700
16Lexington County, South Carolina4301:29762,740163,200
15Madison County, Illinois4031:29464,045138,500
14Dorchester County, South Carolina2201:29463,501213,000
13Sullivan County, Indiana301:29349,44989,400
12Kendall County, Illinois1551:29096,854243,700
11Jones County, North Carolina161:29038,32492,200
10Warren County, New Jersey1641:28383,497265,700
9Huron County, Ohio911:28055,041131,600
8Will County, Illinois9171:27390,800239,400
7Sussex County, New Jersey2301:27396,222271,500
6Gloucester County, New Jersey4541:25889,056224,300
5Camden County, New Jersey8401:25370,957200,400
4Burlington County, New Jersey7781:23890,329259,600
3Salem County, New Jersey1241:22464,234185,700
2Cuyahoga County, Ohio3,1001:19951,741137,800
1Cumberland County, New Jersey2901:19755,709166,400