The Attom Year-End 2018 report included the 7,590 ZIP codes
in the country that had at least 2,500 mortgaged properties.
The top five zip codes
with the highest share of seriously underwater properties were 08611 inTrenton, New Jersey(71.0 percent seriously underwater); 63137 inSaint Louis, Missouri(66.5 percent); 60426 inHarvey, Illinois(64.2 percent); 38106 inMemphis, Tennessee(60.7 percent); and 44105 inCleveland, Ohio(59.2 percent).
In ZIP code
77401, which covers Bellaire, the median household income is more than $169,000.
This corresponds to the third property noted in reference to Figure 1: the distribution of cash shares across zip codes
did not shift down in a uniform manner.
This research planned analysis at a sub county level using ZIP codes
. However, some ZIP codes
fell over the county lines and had to be adjusted.
More questions were raised by the FIO's decision to apply its "affordability index" to ZIP codes
designated as "majority-minority" and "majority-LMI." The FIO defined a "majority-minority" ZIP code
as one in which more than half the residents are "Black American, Native American, Hispanic American, or Asian American." A "majority-LMI" ZIP code
is one in which more than half the residents have median family incomes that are less than half of the median family income for the entire ZIP code
In the two most extreme cases, we either a) only analyzed ZIP codes
that had complete 1-km grid [PM.sub.2.5] estimates or b) analyzed as many data as possible (i.e., so long as a ZIP code
had at least one 1-km grid [PM.sub.2.5] estimate it was included in the analysis).
When the data is averaged, it appears that the individual effects on volume of adjacent ZIP codes
are somewhat blunted.
The authors also found that in the Woodward Corridor neighborhood, the ZIP codes
with the highest home prices exhibited the lowest delinquency rates.
In rural ZIP codes
, the average premium in predominantly black ZIP codes
is 24% more than the average premium in white ZIP codes
-- $669 vs.
Algorithm 3 plus substituting five-digit zip codes
for missing SSNs
Furthermore, households living in low-income zip codes
spent this extra cash.