Investors Hold Most Empty Houses – NMP Skip to main content

Investors Hold Most Empty Houses

Aug 25, 2025
Unoccupied, vacant homes
Staff Writer

About 63% of unoccupied houses in U.S. owned by investors

Investors owned more than 882,300 vacant houses as of last year’s third quarter, according to the latest report from ATTOM Data Solutions.

That’s a scant 3.6% of the 24.9 million properties held by investors nationwide. But it’s a major portion of the nearly 1.4 million total residential properties that had no occupants at the end of September 2024. It’s also almost three times the 1.3% of all houses that are empty.

The states with the highest vacancy rates in investor-owned properties were: 

  • Indiana (7.2%); 
  • Illinois (6.1%); 
  • Oklahoma (5.9%); 
  • Alabama (5.9%); and 
  • Ohio (5.8%). 

States with the lowest vacancy rates were: 

  • New Hampshire (0.9%); 
  • Vermont (1%); 
  • Idaho (1.2%); 
  • Utah (1.5%); and 
  • North Dakota (1.5%).

ATTOM’s report analyzes publicly recorded real estate data collected by the analytics firm, including foreclosure status, equity, and owner-occupancy status.

The report shows that 222,318 properties across the country were in the process of foreclosure in the third quarter. Of those, about 7,500 — almost 3.4% — were so-called “zombie” properties that had been deserted by their owners.

That was slightly higher than the previous quarter, when 3.3% of pre-foreclosure homes were considered zombies.

ATTOM places an emphasis on vacant and abandoned properties because they “can hurt the value of surrounding properties and start a negative spiral in a local housing market,” noted CEO Rob Barber.

Fortunately, the overall rate of those houses “has remained remarkably steady,” Barber added. “While there remain some markets with worryingly high rates of vacancies, as a whole it appears that the nation’s buyers are quickly filling homes that become available.”

Quarter-over-quarter, the number of abandoned houses rose in 23 states. At the same time, 23 states and the District of Columbia had fewer zombie properties. In all cases, the changes up and down were minimal, according to ATTOM.

About the author
Staff Writer
Lew Sichelman has been covering the housing and mortgage sectors for 52 years. His syndicated column appears in major newspapers throughout the country.
Published
Aug 25, 2025
Jobs Report Comes In Weak After Mortgage Rates Surge

Employers added just 29,000 jobs in September, sending Treasury yields lower and offering a potential counterweight to the recent rise in mortgage rates

Oct 02, 2026
Price Cuts Hit Four-Year High As Mortgage Rates Top 7%

More than one in five listings took a price cut in September, but pending sales still posted their sharpest annual decline since March 2025

Oct 01, 2026
Serious Mortgage Delinquencies Rise 19% After Five Months Of Improvement

ICE data shows 574,000 mortgages were at least 90 days past due in August, while early-stage delinquencies remained below year-ago levels

Sep 29, 2026
Smaller Down Payments Give Buyers More Room, But Rates Limit The Savings

The typical down payment fell 9% from a year ago, while shifting market conditions are giving originators different affordability conversations across the country

Sep 25, 2026
Mortgage Rates Break 7% Just As Builders Find A Way To Move Buyers

New-home sales rose 6.4% in August as builders cut prices, offered incentives, and sold more lower-priced homes. Now mortgage rates are moving against buyers again

Sep 25, 2026
Borrowers Want Digital Closings, But Some Originators Remain Hesitant

ServiceLink finds 45% of surveyed LOs cite borrower reluctance as a barrier, even though most recent buyers say digital options would influence their choice of mortgage provider

Sep 23, 2026