Housing-data powerhouse RealtyTrac recently released their first-ever Registered Criminal Offender Risk Index which shows that average home values and home equity were lower (while average foreclosure rates were higher) in zip codes with a higher offender index than in those with a lower offender index.
Interestingly, The report also shows that average home price appreciation has been slightly stronger over the past year and five years in zip codes with a higher offender index than in zip codes with a lower offender index.
“This new index provides concrete evidence that registered criminal offenders pose not only a potential safety risk for homeowners and their families, but also a potential financial risk…This is clearly evident in the significantly lower home values and significantly higher foreclosure rates in zip codes with a higher offender index, but it may not be as evident in the home price appreciation numbers, which are actually slightly stronger over the past year and five years in zip codes with a higher offender index.” said Daren Blomquist, senior vice president at RealtyTrac
The Registered Criminal Offender Index is based on the total number of offenders (including sex offenders, child predators, kidnappers and violent offenders) as a percentage of total population in more than 10,000 U.S. zip codes. The offender data is collected from each state’s criminal offender registry online and is available on HomeDisclosure.com, where offenders living within a half-mile radius of a home can be identified.
Click here to read the full report on RealtyTrac.
UPDATE:
Fewer criminal residences in NYC boosts home values, report shows, Inman 3/21/16
