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.