The Nine Worst Cities For Foreclosure

by Christopher Maag

Las Vegas got pummelled – again – by foreclosures in 2010, with nearly one out of every nine housing units in the area getting foreclosed on last year.

Miami posted the fifth-worst rate of foreclosures in 2010, with 7% of all houses getting foreclosed upon. But the total number of foreclosure there, 171,704, was far and away the most recorded anywhere in the country.

The numbers come from RealtyTrac, an online listing service of foreclosed properties, which recently published its annual report on foreclosures for 2010.  The report found continued problems in cities that have suffered the brunt of the mortgage bust, including Phoenix and Miami.

California and Florida continue to hurt, accumulating seven of the nation’s top nine cities for foreclosure in the country.

Here’s what they found:

City                             Number of Foreclosures                   % of total housing units

1. Las Vegas, NV                    88,198                                     10.88

2. Cape Coral, FL                   30,660                                      8.40

3. Modesto, CA                      12,844                                       7.34

4. Phoenix, AZ                      124,720                                      7.27

5. Miami, FL                          171,704                                      7.08

6. Riverside, CA                    101,210                                      6.95

7. Stockton, CA                       15,868                                      6.94

8. Merced, CA                           5,801                                      6.93

9. Orlando, FL                         61,674                                     6.86

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