R.I. cities in region’s top 10 for foreclosure

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R.I. cities in region’s top 10 for foreclosure

09:48 AM EST on Sunday, February 15, 2009

By Paul Edward Parker

Journal Staff Writer

Central Falls had the highest rate of property foreclosures in Southern New England last year and Providence had the third highest, according to a Providence Journal analysis of data from the Warren Group, a Boston-based real estate consulting firm.

Central Falls land records show 56.9 foreclosures for every 1,000 residential properties, according to the Warren Group data. Lawrence, Mass., came in second, with 47.1, and Providence had 45.8.

Bridgeport, Conn., with a rate of 21.3, is not among the 10 highest in Rhode Island, Connecticut and Massachusetts. The Warren Group cautioned, however, that data from Connecticut’s largest city was incomplete. Bridgeport’s actual rate is probably higher and could be at or near the top of the list.

Boston as a whole had less than a quarter of the rate of foreclosures as Providence, at 10.9. Even the Hub’s hardest hit neighborhoods, Dorchester and Mattapan, were well below Providence, at 32.4 and 23.7, respectively.

The places with the 10 highest foreclosure rates were all cities and all industrial centers past their heydays.

After Central Falls, Lawrence and Providence were:

New London, Conn., 33.1; Chelsea, Mass., 26.5; Lynn, Mass., 25.9; Brockton, Mass., 24.9; Pawtucket, 24.1; Fitchburg, Mass., 22.3, and New Haven, Conn., 21.4.

Other notable New England cities not in the Top 10 included Worcester, 20.1, and Hartford, 17.4.

The Warren group counted foreclosure deeds filed in the land records in the three states and supplied those counts, along with the total number of residential properties for each community, to The Journal. The newspaper used those figures to calculate the rates of foreclosures per 1,000 residential properties.

In terms of the total number of foreclosures, Providence led the way in Southern New England with 1,447, followed by Boston, with 1,252, and Worcester, with 765.

The remainder of the Top 10 were:

Springfield, Mass., 670; Bridgeport, Conn., 549; Brockton, Mass., 545; Lynn, Mass., 485; Lawrence, Mass., 469; Waterbury, Conn., 462, and New Haven, Conn., 432.

Pawtucket was 11th on that list, with 384. Cranston was 14th, with 293. Warwick was 20th, with 184. Central Falls was 25th, 125.

Southern New England foreclosure rates
Foreclosures hit Southern New England’s older industrial cities especially hard last year. Below are the top 50 cities and towns in Rhode Island, Massachusetts and Connecticut ranked by the rate of foreclosures per 1,000 residential properties. Data for Bridgeport, Conn., is incomplete and the actual number of foreclosures and rate are probably higher than shown.

		Foreclosed	Properties	Rate
1	Central Falls	125	2,196	56.9
2	Lawrence, Mass.	469	9,954	47.1
3	Providence	1,447	31,561	45.8
4	New London, Conn.	181	5,462	33.1
5	Chelsea, Mass.	128	4,828	26.5
6	Lynn, Mass.	485	18,708	25.9
7	Brockton, Mass.	545	21,885	24.9
8	Pawtucket	384	15,944	24.1
9	Fitchburg, Mass.	219	9,807	22.3
10	New Haven, Conn.	432	20,183	21.4
11	Bridgeport, Conn.	549	25,749	21.3
12	Southbridge, Mass.	78	3,779	20.6
13	Worcester	765	38,018	20.1
14	Hyannis, Mass.	127	6,430	19.8
15	Springfield, Mass.	670	35,280	19.0
16	Athol, Mass.	71	3,795	18.7
17	Everett, Mass.	142	7,763	18.3
18	Lowell, Mass.	368	21,139	17.4
19	Hartford	286	16,475	17.4
20	Waterbury, Conn.	462	27,426	16.8
21	Revere, Mass.	185	11,297	16.4
22	Winchendon, Mass.	49	3,073	15.9
23	Plainfield, Conn.	68	4,294	15.8
24	Warren, Mass.	23	1,456	15.8
25	Marlborough, Mass.	157	10,172	15.4
26	New Bedford, Mass.	306	20,104	15.2
27	Orange, Mass.	35	2,368	14.8
28	Fall River, Mass.	228	15,504	14.7
29	N. Brookfield, Mass.	21	1,456	14.4
30	Millville, Mass.	14	994	14.1
31	Woonsocket	115	8,195	14.0
32	Gardner, Mass.	74	5,285	14.0
33	Hampton, Conn.	7	513	13.6
34	Randolph, Mass.	123	9,082	13.5
35	New Braintree, Mass.	4	307	13.0
36	Putnam, Conn.	34	2,661	12.8
37	New Britain, Conn.	188	15,039	12.5
38	Cranston	293	24,284	12.1
39	Haverhill, Mass.	208	17,300	12.0
40	Meriden, Conn.	204	17,041	12.0
41	Webster, Mass.	57	4,849	11.8
42	Sprague, Conn.	10	862	11.6
43	Malden, Mass.	132	11,668	11.3
44	Milford, Mass.	92	8,189	11.2
45	Killingly, Conn.	61	5,440	11.2
46	E. Brookfield, Mass.	9	815	11.0
47	Colebrook, Conn.	6	545	11.0
48	Clinton, Mass.	42	3,834	11.0
49	Framingham, Mass.	189	17,377	10.9
50	Boston	1,252	115,226	10.9

SOURCE: The Warren GroupTHE PROVIDENCE JOURNAL

pparker@projo.com

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