U.S. Subprime Mortgage Foreclosure Impact
As of Jan. 2009

How will subprime foreclosures impact your State and your property values?

Find out in this state-by-state analysis released by the Joint Economic Committee showing average home values, estimated total foreclosures and estimated loss of property value by state.

Sources: U.S. Congress Joint Economic Committee Calculations of Mortgage Banker Association data; projections by the Center for Responsible Lending. 
Alabama
Estimated Outstanding Subprime Loans		75,341
Average Home Value 2008--Q1   			$130,742
Estimated Subprime Foreclosures 2008--2009	7,891
Estimated Loss of Property Value 2008--2009	$281,240,188

Alaska
Estimated Outstanding Subprime Loans		12,899
Average Home Value 2008--Q1   			$265,905
Estimated Subprime Foreclosures 2008--2009	931
Estimated Loss of Property Value 2008--2009	$61,803,613

Arizona
Estimated Outstanding Subprime Loans		233,786
Average Home Value 2008--Q1   			$260,929
Estimated Subprime Foreclosures 2008--2009	49,890
Estimated Loss of Property Value 2008--2009	$2,891,531,330

Arkansas
Estimated Outstanding Subprime Loans		36,465
Average Home Value 2008--Q1   			$116,898
Estimated Subprime Foreclosures 2008--2009	3,611
Estimated Loss of Property Value 2008--2009	$108,438,152

California
Estimated Outstanding Subprime Loans		960,786
Average Home Value 2008--Q1   			$443,916
Estimated Subprime Foreclosures 2008--2009	211,248
Estimated Loss of Property Value 2008--2009	$24,648,847,370

Colorado
Estimated Outstanding Subprime Loans		146,378
Average Home Value 2008--Q1   			$257,024
Estimated Subprime Foreclosures 2008--2009	22,576
Estimated Loss of Property Value 2008--2009	$1,481,173,604

Connecticut
Estimated Outstanding Subprime Loans		78,283
Average Home Value 2008--Q1   			$288,876
Estimated Subprime Foreclosures 2008--2009	13,228
Estimated Loss of Property Value 2008--2009	$1,286,132,541

Delaware
Estimated Outstanding Subprime Loans		22,035
Average Home Value 2008--Q1   			$239,521
Estimated Subprime Foreclosures 2008--2009	3,241
Estimated Loss of Property Value 2008--2009	$200,611,388

D.C.
Estimated Outstanding Subprime Loans		10,991
Average Home Value 2008--Q1   			$384,116
Estimated Subprime Foreclosures 2008--2009	1,776
Estimated Loss of Property Value 2008--2009	$248,447,883

Florida
Estimated Outstanding Subprime Loans		716,953
Average Home Value 2008--Q1   			$250,409
Estimated Subprime Foreclosures 2008--2009	177,401
Estimated Loss of Property Value 2008--2009	$13,168,247,168

Georgia
Estimated Outstanding Subprime Loans		261,260
Average Home Value 2008--Q1   			$183,928
Estimated Subprime Foreclosures 2008--2009	34,332
Estimated Loss of Property Value 2008--2009	$1,920,165,507

Hawaii
Estimated Outstanding Subprime Loans		24,465
Average Home Value 2008--Q1   			$513,404
Estimated Subprime Foreclosures 2008--2009	3,762
Estimated Loss of Property Value 2008--2009	$885,196,306

Idaho
Estimated Outstanding Subprime Loans		31,294
Average Home Value 2008--Q1   			$212,739
Estimated Subprime Foreclosures 2008--2009	4,843
Estimated Loss of Property Value 2008--2009	$258,330,119

Illinois
Estimated Outstanding Subprime Loans		269,346
Average Home Value 2008--Q1   			$241,223
Estimated Subprime Foreclosures 2008--2009	53,591
Estimated Loss of Property Value 2008--2009	$4,722,183,934

Indiana
Estimated Outstanding Subprime Loans		155,499
Average Home Value 2008--Q1   			$123,564
Estimated Subprime Foreclosures 2008--2009	28,953
Estimated Loss of Property Value 2008--2009	$1,034,804,182

Iowa
Estimated Outstanding Subprime Loans		35,288
Average Home Value 2008--Q1   			$116,888
Estimated Subprime Foreclosures 2008--2009	6,013
Estimated Loss of Property Value 2008--2009	$191,822,665

Kansas
Estimated Outstanding Subprime Loans		40,704
Average Home Value 2008--Q1   			$126,502
Estimated Subprime Foreclosures 2008--2009	4,683
Estimated Loss of Property Value 2008--2009	$159,919,372

Kentucky
Estimated Outstanding Subprime Loans		64,961
Average Home Value 2008--Q1   			$126,560
Estimated Subprime Foreclosures 2008--2009	10,588
Estimated Loss of Property Value 2008--2009	$404,708,153

Louisiana
Estimated Outstanding Subprime Loans		81,679
Average Home Value 2008--Q1   			$139,458
Estimated Subprime Foreclosures 2008--2009	11,252
Estimated Loss of Property Value 2008--2009	$435,729,528

Maine
Estimated Outstanding Subprime Loans		23,204
Average Home Value 2008--Q1   			$193,614
Estimated Subprime Foreclosures 2008--2009	4,385
Estimated Loss of Property Value 2008--2009	$245,106,263

Maryland
Estimated Outstanding Subprime Loans		157,066
Average Home Value 2008--Q1   			$317,885
Estimated Subprime Foreclosures 2008--2009	24,391
Estimated Loss of Property Value 2008--2009	$2,807,203,345

Massachusetts
Estimated Outstanding Subprime Loans		111,016
Average Home Value 2008--Q1   			$332,058
Estimated Subprime Foreclosures 2008--2009	20,954
Estimated Loss of Property Value 2008--2009	$2,845,891,622

Michigan
Estimated Outstanding Subprime Loans		265,370
Average Home Value 2008--Q1   			$137,822
Estimated Subprime Foreclosures 2008--2009	53,663
Estimated Loss of Property Value 2008--2009	$2,334,722,438

Minnesota
Estimated Outstanding Subprime Loans		112,714
Average Home Value 2008--Q1   			$217,084
Estimated Subprime Foreclosures 2008--2009	24,437
Estimated Loss of Property Value 2008--2009	$1,381,213,973

Mississippi
Estimated Outstanding Subprime Loans		48,084
Average Home Value 2008--Q1   			$113,791
Estimated Subprime Foreclosures 2008--2009	6,368
Estimated Loss of Property Value 2008--2009	$194,167,214

Missouri
Estimated Outstanding Subprime Loans		134,813
Average Home Value 2008--Q1   			$143,460
Estimated Subprime Foreclosures 2008--2009	15,930
Estimated Loss of Property Value 2008--2009	$664,459,829

Montana
Estimated Outstanding Subprime Loans		10,490
Average Home Value 2008--Q1   			$211,543
Estimated Subprime Foreclosures 2008--2009	936
Estimated Loss of Property Value 2008--2009	$47,992,795

Nebraska
Estimated Outstanding Subprime Loans		22,864
Average Home Value 2008--Q1   			$121,273
Estimated Subprime Foreclosures 2008--2009	2,829
Estimated Loss of Property Value 2008--2009	$97,315,074

Nevada
Estimated Outstanding Subprime Loans		126,910
Average Home Value 2008--Q1   			$299,301
Estimated Subprime Foreclosures 2008--2009	30,278
Estimated Loss of Property Value 2008--2009	$1,780,554,867

New Hampshire
Estimated Outstanding Subprime Loans		28,336
Average Home Value 2008--Q1   			$254,434
Estimated Subprime Foreclosures 2008--2009	4,025
Estimated Loss of Property Value 2008--2009	$431,442,086

New Jersey
Estimated Outstanding Subprime Loans		171,671
Average Home Value 2008--Q1   			$344,281
Estimated Subprime Foreclosures 2008--2009	32,537
Estimated Loss of Property Value 2008--2009	$5,905,000,243

New Mexico
Estimated Outstanding Subprime Loans		30,731
Average Home Value 2008--Q1   			$205,500
Estimated Subprime Foreclosures 2008--2009	3,982
Estimated Loss of Property Value 2008--2009	$198,142,406

New York
Estimated Outstanding Subprime Loans		350,959
Average Home Value 2008--Q1   			$373,100
Estimated Subprime Foreclosures 2008--2009	58,339
Estimated Loss of Property Value 2008--2009	$8,492,026,348

North Carolina
Estimated Outstanding Subprime Loans		182,014
Average Home Value 2008--Q1   			$175,162
Estimated Subprime Foreclosures 2008--2009	19,669
Estimated Loss of Property Value 2008--2009	$1,016,085,856

North Dakota
Estimated Outstanding Subprime Loans		3,745
Average Home Value 2008--Q1   			$120,554
Estimated Subprime Foreclosures 2008--2009	398
Estimated Loss of Property Value 2008--2009	$11,105,457

Ohio
Estimated Outstanding Subprime Loans		276,821
Average Home Value 2008--Q1   			$132,044
Estimated Subprime Foreclosures 2008--2009	60,307
Estimated Loss of Property Value 2008--2009	$2,547,333,455

Oklahoma
Estimated Outstanding Subprime Loans		64,679
Average Home Value 2008--Q1   			$112,723
Estimated Subprime Foreclosures 2008--2009	8,256
Estimated Loss of Property Value 2008--2009	$243,924,042

Oregon
Estimated Outstanding Subprime Loans		80,955
Average Home Value 2008--Q1   			$276,562
Estimated Subprime Foreclosures 2008--2009	11,170
Estimated Loss of Property Value 2008--2009	$791,290,101

Pennsylvania
Estimated Outstanding Subprime Loans		258,328
Average Home Value 2008--Q1   			$163,668
Estimated Subprime Foreclosures 2008--2009	36,102
Estimated Loss of Property Value 2008--2009	$1,962,743,567

Rhode Island
Estimated Outstanding Subprime Loans		24,034
Average Home Value 2008--Q1   			$272,246
Estimated Subprime Foreclosures 2008--2009	5,207
Estimated Loss of Property Value 2008--2009	$577,618,156

South Carolina
Estimated Outstanding Subprime Loans		95,286
Average Home Value 2008--Q1   			$170,423
Estimated Subprime Foreclosures 2008--2009	14,336
Estimated Loss of Property Value 2008--2009	$691,781,778

South Dakota
Estimated Outstanding Subprime Loans		6,000
Average Home Value 2008--Q1   			$130,665
Estimated Subprime Foreclosures 2008--2009	728
Estimated Loss of Property Value 2008--2009	$23,065,302

Tennessee
Estimated Outstanding Subprime Loans		150,508
Average Home Value 2008--Q1   			$139,679
Estimated Subprime Foreclosures 2008--2009	15,678
Estimated Loss of Property Value 2008--2009	$629,023,295

Texas
Estimated Outstanding Subprime Loans		510,499
Average Home Value 2008--Q1   			$148,827
Estimated Subprime Foreclosures 2008--2009	53,936
Estimated Loss of Property Value 2008--2009	$2,380,570,780

Utah
Estimated Outstanding Subprime Loans		66,234
Average Home Value 2008--Q1   			$262,719
Estimated Subprime Foreclosures 2008--2009	9,041
Estimated Loss of Property Value 2008--2009	$548,620,375

Vermont
Estimated Outstanding Subprime Loans		5,931
Average Home Value 2008--Q1   			$208,514
Estimated Subprime Foreclosures 2008--2009	1,111
Estimated Loss of Property Value 2008--2009	$63,911,636

Virginia
Estimated Outstanding Subprime Loans		171,710
Average Home Value 2008--Q1   			$278,387
Estimated Subprime Foreclosures 2008--2009	25,740
Estimated Loss of Property Value 2008--2009	$2,305,816,372

Washington
Estimated Outstanding Subprime Loans		142,655
Average Home Value 2008--Q1   			$313,619
Estimated Subprime Foreclosures 2008--2009	18,123
Estimated Loss of Property Value 2008--2009	$1,580,261,231

West Virginia
Estimated Outstanding Subprime Loans		20,303
Average Home Value 2008--Q1   			$132,998
Estimated Subprime Foreclosures 2008--2009	1,670
Estimated Loss of Property Value 2008--2009	$59,755,965

Wisconsin
Estimated Outstanding Subprime Loans		77,216
Average Home Value 2008--Q1   			$166,046
Estimated Subprime Foreclosures 2008--2009	14,640
Estimated Loss of Property Value 2008--2009	$709,668,041

Wyoming
Estimated Outstanding Subprime Loans		7,520
Average Home Value 2008--Q1   			$185,647
Estimated Subprime Foreclosures 2008--2009	793
Estimated Loss of Property Value 2008--2009	$35,226,779