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A jumbo certificate of deposit (CD) is a type of savings account that has a higher minimum required initial deposit amount than a regular CD. Jumbo CDs generally require a deposit of $100,000, and they pay a higher interest rate to account owners in return for this higher initial deposit.

Certificates of deposit are savings accounts where the account owner gives up access to their funds for a specified period of time, and earns interest in return for locking up their money. The interest rate may be fixed or variable depending on the particular CD. At the end of the term, known as the maturity date, the account owner receives their initial deposit plus the earned interest.

Is a jumbo CD right for you? Here’s what you need to know about how jumbo certificates of deposit work, and the pros and cons of this type of account.

What Is a Jumbo Certificate of Deposit?

You’re probably familiar with the traditional certificate of deposit, or CD. These accounts are similar to savings accounts, but they pay higher interest rates in exchange for certain restrictions. Generally, most CDs have a maturity date between three months and five years. Since CDs require that funds are unavailable to the account owner during the term, they pay higher rates than other types of savings and interest-bearing checking accounts.

Unlike a regular CD, jumbo CDs generally require investors to deposit at least $100,000 when they first open their account. There are some jumbo CDs that have lower entry requirements of, say, $50,000; these are typically offered by credit unions and smaller banks.

Investors looking to open a smaller CD account are generally better off opening a regular CD. The rates can be just as good as a jumbo CD, but without the steep initial deposit requirements.

Regular vs Jumbo CD

Here’s what you need to know about the similarities and differences between investing in ordinary CDs and jumbo CDs.

Similarities

•   What is a certificate of deposit vs. a savings account? Regular and jumbo CDs are savings-like accounts that require investors to lock up their funds for a specified period of time in exchange for a higher rate of interest than a traditional savings account.

•   Both types of accounts can be set up for shorter and longer terms, typically from three months to five years.

•   If an investor needs their money before the CD’s term is complete, they will likely pay a penalty on the early withdrawal.

Differences

•   Jumbo CDs have higher entry requirements than regular CDs. Regular CDs typically have an initial minimum deposit requirement of less than $5,000, and some have no requirement at all. Jumbo CDs typically require a $100,000 deposit.

•   Jumbo CDs typically have somewhat higher interest rates than regular CDs. However, some regular CDs have equal or better rates than jumbo CDs. Usually large banks have some of the best CD interest rates.

•   Ordinary CDs are insured by the FDIC up to $250,000, as are jumbo CDs — but any amount in a jumbo CD above $250,000 is not FDIC-insured and subject to risk of loss.

•   Regular CDs tend to be more attractive to retail investors; jumbo CDs are geared toward large institutional investors.

Ordinary CDs vs Jumbo CDs

Advantages of Jumbo CDs

Jumbo CDs offer several advantages for investors looking to buy into a safe savings account with a fixed rate of return.

Steady Rate of Interest

Because jumbo CDs earn a steady interest rate over a fixed period of time and are fairly safe investments (i.e. your money is FDIC-insured up to $250,000), they can be a good way to save up for a longer-term financial goal, such as buying a home or saving for a wedding.

Higher Interest Rate Than Traditional CDs

Jumbo CDs tend to pay higher interest rates than regular CDs and savings accounts. National averages show that annual percentage yields for jumbo CDs tend to be about one-hundredth of a percentage point larger than regular CD yields, which isn’t much — but can add up over time.

Steady Interest Can Partly Offset Market Risk

By holding some funds in a jumbo CD that earns a steady rate, it’s possible to offset the potential volatility in other parts of your investment portfolio. Also, although interest rates may not be super high, the compound interest on the large amounts invested in a jumbo CD can add significantly to investors’ earnings (see example below).

Insured up to $250,000 per Account

The FDIC or the NCUA insure CD accounts for up to $250,000, making jumbo CDs one of the safest types of investments.

Those who want to deposit more than $250,000 might consider opening a joint CD account that allows $250,000 per account owner, or they can open different CD accounts with multiple banks. Jumbo CDs are popular with retirees who don’t want to put all their money into the stock market. On the downside, jumbo CDs tend to earn lower returns over time than stocks.

Disadvantages of Jumbo CDs

Although there are several reasons jumbo CDs can be good investments, they also come with some downsides. The biggest buyers of jumbo CDs are institutional investors looking for safe investments with fixed returns. Sometimes these institutional investors put money into a CD that they plan to invest somewhere else but they want to earn interest on it while they wait for that next investment. Retail investors typically look for CDs with lower entry requirements.

Lower Return Than Many Other Fixed-Rate Investments

Jumbo CDs are safe fixed-rate investments, but they have high minimum balance requirements and pay out lower interest rates than other types of fixed-rate investments like bonds.

Interest Rate Risk

Investors face the potential risk of interest rates going up after they buy a CD. If this happens they may miss out on the opportunity to earn those higher rates.

May Not Keep Up With Inflation

Jumbo CDs pay higher interest rates than traditional savings accounts, but the rate of these CDs may not be that high and therefore they may not keep up with the pace of inflation. The cost of living may rise more quickly than the return provided by the CD.

It may help investors to buy into jumbo CDs with longer terms, since those pay out higher interest rates — but the tradeoff there is that your money is locked up for an even longer period.

Recommended: How to Protect Money Against Inflation

Early Withdrawals Will Trigger a Penalty

When an investor puts money into a jumbo CD, they cannot access those funds until the maturity date. If they do want to access the funds they will have to pay an early withdrawal penalty. Each bank has different penalties for early withdrawal, but there are also no-penalty CDs available, so it’s important for investors to consider their individual situation and look into their options to avoid paying fees.

Reinvestment Rate Risk

If interest rates go down during the term of the jumbo CD, then the investor might struggle to find a new investment that provides a similar rate when their jumbo CD reaches its maturity date.

Jumbo CD Example

Interest rates for jumbo CDs are always changing and they can be different in different regions, but below are two examples of how a jumbo CD might be structured:

•   An investor buys a $100,000 jumbo CD from Bank A. It has a nine-month term and pays 1.5% interest. When the investor withdraws the funds at the maturity date, they’ll receive $101,122.90.

•   Another investor buys a $200,000 jumbo CD from Bank B, with an 18-month term and 2.00% interest. At the maturity date, the investor will get $206,029.90.

The Takeaway

Jumbo CDs are savings accounts with high minimum deposit requirements — typically $100,000 — that pay higher interest rates than regular CDs. These are popular with large institutional investors such as banks and corporations. While they are similar to regular CDs in some ways — your money is unavailable until the maturity date; early withdrawals can trigger a penalty — jumbo CDs may come with more risks. For example, only the first $250,000 of your money is insured. And by locking up your money at one fixed rate, you may lose out if interest rates rise.

If you’re ready to open a savings account, one easy way is through SoFi’s mobile banking app. You can sign up for an account right from your phone and pay zero account fees — and if you qualify and use direct deposit, you can earn a competitive APY. Open your Checking and Savings today.

FAQ

What is the range of jumbo CD rates?

Jumbo CD rates are between 0.40% and 2.1% as of April 25, 2022. The highest rates often depend on the length of the term.

How much money is in a jumbo CD?

Jumbo CDs typically require a minimum deposit of $100,000.

Are jumbo CDs negotiable?

Jumbo CDs are usually negotiable, meaning they can be sold on a secondary market.

Photo credit: iStock/Andrii Yalanskyi

SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC. The SoFi® Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet

Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.

Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.

Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.

See additional details at https://www.sofi.com/legal/banking-rate-sheet.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

SOBK0322032

A foreign currency certificate of deposit (CD) is similar to an ordinary CD in that an investor can lock up funds for a period of time and earn a set interest rate. But with a foreign CD, the money is converted into another currency for the duration of the term; the funds earn interest in that currency, and the money is converted back to dollars at the maturity date.

Foreign currency CDs sometimes offer much higher returns than other types of CDs. However, they do come with some potential downsides and these CDs can be affected by volatility in the currency markets.

Here’s what you need to know about how foreign currency CDs work, their pros and cons, and how to start investing in them.

How Foreign Currency CDs Work

There are a number of ways to invest in foreign currency. How does a foreign currency CD work? An investor deposits their U.S. dollars in the CD account for a specified period of time known as the term (typically three months to five years). The dollars are then exchanged for a foreign currency or basket of currencies, and the money earns interest in that currency.

At the end of the term the total is converted back to U.S. dollars, and the investor receives their principal plus the interest — similar to an ordinary certificate of deposit.

Typically CD interest rates are somewhat higher than traditional interest-bearing savings or checking accounts, to compensate for the fact that the investor’s money is inaccessible for the term — and foreign currency CDs tend to have higher rates owing to the higher risk.

The longer the term of a foreign currency CD, the higher interest rate the investor earns.

Foreign currency CDs can be a way for investors to hedge against the risk of the U.S. dollar depreciating in value.

How You Can Make Money With Foreign Currency CDs

Returns earned on foreign currency CDs depend on the current interest rates in the country of the chosen currency. Every country has different interest rates, some of which are much higher than the U.S. rates. By investing in another country one may be able to earn those higher rates.

If the currency exchange rates work in the investor’s favor, the value of the CD could also increase – and they could see a higher return in addition to the interest gained.

How You Can Lose Money With Foreign Currency CDs

Although there is an opportunity to earn high interest rates on foreign currency CDs, this type of CD is risky. Other types of CDs are known to be safe investments, so it’s important to understand the difference.

Currency markets have high volatility and are unpredictable, so the exchange rate between the U.S. dollar and the chosen currency may fluctuate a lot between the beginning and end of the CD term. If a foreign currency loses value compared to the U.S. dollar, an investor will lose money at the end of the term, and the interest gained may not be more than the loss. However, if a foreign currency rises in value compared to the U.S. dollar, investors will earn an even higher return than the interest alone.

The intricacies of currency markets are one reason why foreign currency CDs aren’t recommended for retail investors who don’t have the tools or experience to anticipate what might happen to any particular currency.

One catch to be aware of is that the countries that have the highest interest rates tend to have the most volatile currencies. So it can be tempting to invest to earn those higher rates, but there is a higher risk of loss as well.

How Risky Are Foreign Currency CDs?

Foreign currency CDs are fairly risky investments because currency markets can be quite volatile. For this reason, these CDs tend to be used by institutional investors more so than retail investors.

Investing in currencies requires an in-depth understanding of many different factors that can affect their values. Institutional investors often buy into foreign currency CDs if they know they have an upcoming payment to make in that currency. They can exchange the money and earn interest on it until it becomes time to make the payment.

How to Protect Your Investment

There are a few key ways to protect investments in foreign currency CDs.

Temper Currency Risk

One of the greatest risks in investing in foreign currency CDs is that global currencies can fluctuate a lot in a short amount of time. It can be tempting to buy into currencies that have the highest interest rates, but those are the most volatile and risky.

Instead, it’s better to choose stable currencies with lower interest rates, or invest in a basket of foreign currencies. It’s also recommended to only put a small amount of money into foreign currency CDs for portfolio diversification and exposure to foreign markets.

Look for FDIC Protection

The FDIC insures CDs up to $250,000, but this only applies to CDs opened with U.S. banks. Although an investor can buy into a CD from a foreign bank, it won’t be insured and will come with higher risk, so it’s best to look for foreign currency CDs backed by U.S. banks.

Another important fact to keep in mind is that FDIC won’t protect against currency fluctuations for foreign currency CDs.

Be Aware of Fees and Charges

All types of CDs tend to have early withdrawal fees, although there are some no penalty CDs. Foreign currency CDs also have conversion fees that are sometimes included in the price of the CD. Be sure to inquire about the cost of any foreign currency CD.

How to Open a Foreign Currency CD

Most U.S. banks don’t offer foreign currency CDs, so investors interested in buying into them will need to do some research to find them. Banks that do offer foreign currency CDs tend to offer multiple foreign currency choices. Some also offer CDs that have a group of foreign currencies in them to provide investors with broader exposure.

Investors can open foreign currency CDs with overseas banks, but they are not FDIC insured so they come with greater risks.

Banks offering foreign currency CDs sometimes require a certain minimum deposit amount, and there may be fees associated with currency exchange.

Other Ways to Invest in Foreign Currency

In additional foreign currency CDs, there are other ways investors can gain exposure to foreign currencies:

•   Mutual funds

•   Exchange-traded funds (ETFs) and leveraged ETFs

Investing in mutual funds and ETFs is just as easy as investing in stocks, and more CDs are becoming available to retail investors, so these are simple ways to buy into foreign currency markets. Forex trading is more complicated.

The Takeaway

Foreign currency certificates of deposit are one way investors can gain exposure to foreign markets. Although this type of CD can earn a higher interest rate than traditional CDs, they also come with a higher degree of risk. Global currency markets are complex and difficult to predict — often volatile — with the potential for higher returns but also steep losses for foreign currency CD holders. This type of savings option is recommended only for more experienced investors.

If you’re looking to open a checking or savings account, you might want to consider SoFi’s mobile banking app: an easy all-in-one account. You can open a Checking and Savings on your laptop or phone. There are no account fees, and if you use direct deposit you can earn a competitive APY. The online platform lets you set personal savings goals, and you can see all your financial information in one simple dashboard.

FAQ

Are foreign CDs FDIC insured?

If a foreign CD is purchased through a U.S. bank it will be FDIC insured, but if it is purchased through a foreign bank it is not.

Which US banks offer foreign currency accounts?

The most well known bank offering foreign currency CDs is TIAA bank, formerly known as Everbank.

Can US banks hold foreign currency?

Yes, U.S. banks can hold foreign currency.

SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC. The SoFi® Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet

Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.

Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.

Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.

See additional details at https://www.sofi.com/legal/banking-rate-sheet.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Photo credit: iStock/Drazen_
SOBK0322033

Despite the economic fallout and job loss from the pandemic, the number of US properties with foreclosure filings in February was 11,281, down 77% from last year, according to ATTOM Data Solutions . This is likely thanks to the COVID-19 foreclosure moratorium for federally guaranteed mortgages, which has been extended to June 30, 2021. (Note: President Joe Biden’s executive order also extended the mortgage payment forbearance enrollment window to June 30, 2021.)

While foreclosures were down for the month compared to last year, they were up compared to the previous month: specifically, foreclosures in February were up 16% compared to January. Read on for the top 30 states with foreclosures in February 2021—plus top counties within those states.

States with the Highest Foreclosure Rates: 1 -10

The top 10 states are not located in any one region. That said, the South had five states in the top 10: Delaware, Florida, Louisiana, South Carolina, and Georgia. The Northeast had none.

1. Utah

With a total 1,087,112 housing units, Utah’s foreclosure rate was 1 in every 3,883 homes in February. The 31st most populated state in the country, the state saw a total 280 foreclosure filings (default notices, scheduled auctions, and bank repossessions). The counties with the most foreclosures per housing unit were (in descending order): Utah, Ulintah, Beaver, Juab and Carbon.

2. Delaware

With a total 433,195 housing units, Delaware’s foreclosure rate was 1 in every 5,219 homes. Ranking 45th for population, the state had 83 foreclosure filings in February. The counties with the most foreclosures per housing unit were (in descending order): Kent, Sussex, and New Castle.

3. Florida

The third most populated state, Florida was also third for most foreclosures. Of its 9,448,159 homes, 1,516 went into foreclosure–making the state’s foreclosure rate 1 in every 6,232. The counties with the most foreclosures per housing unit were (in descending order): Highlands, Levy, Hendry, Madison and Taylor.

4. Illinois

With a total housing unit count of 5,360,315, Illinois had 846 homes go into foreclosure, resulting in the state’s foreclosure rate of 1 in every 6,336. The counties with the most foreclosures per housing unit were (in descending order): Power, Boundary, Fremont, Payette, and Bannock.

5. Louisiana

With the 25th largest population in the country, Louisiana’s foreclosure rate of 1 in every 7,923 homes put it in the number five spot. Of its total 2,059,918 housing units, 260 went into foreclosure. The counties with the most foreclosures per housing unit were (in descending order): Washington, West Baton Rouge, Caddo, Jackson, and Union.

Recommended: Tips on Buying a Foreclosed Home

6. Indiana

With a total 2,886,548 housing units in the state, Indiana’s foreclosure rate was 1 in every 7,930 homes. Ranked the 17th most populated, the state ranked 6th for foreclosures with a total 364 filings. The counties with the most foreclosures per housing unit were (in descending order): Vermillion, Clinton, Jasper, Fountain, and Huntington.

7. Ohio

Just like Florida, Ohio’s population ranking (7th) matches its foreclosure rate ranking. With 1 in every 8,310 households going into foreclosure, the state had 626 homes of a total 5,202,304 go into foreclosure. The counties with the most foreclosures per housing unit were (in descending order): Lake, Fairfield, Trumbull, Marion, and Cuyahoga.

8. South Carolina

With 1 in every 8,565 homes going into foreclosure, South Carolina was a close eighth to Ohio. Ranked 23rd for population, South Carolina has 2,286,826 housing units and saw 267 foreclosure filings. The counties with the most foreclosures per housing unit were (in descending order): Mccormick, Allendale, Fairfield, Darlington, and Bamberg.

9. Wyoming

Though it’s the least populated state in the country, Wyoming ranks 9th for foreclosures with 1 in every 8,651 homes. Of its 276,846 homes, 32 homes were foreclosed on. The counties with the most foreclosures per housing unit were (in descending order): Weston, Carbon, Uinta, Campbell, and Lincoln.

10. Georgia

Eighth for most populated state, Georgia was tenth for most foreclosures. It has 4,283,477 housing units, of which 472 went into foreclosure—making the state’s foreclosure rate 1 in every 9,075 households. The counties with the most foreclosures per housing unit were (in descending order): Berrien, Baker, Terrell, Oglethorpe, and Candler.

States with the Highest Foreclosure Rates: 11 – 20

With the next group of states, the trend of the South (North Carolina, Missouri, Oklahoma, Alabama, and Mississippi) dominating foreclosure rates continues. The Northeast appears with Maine and New Jersey and the West Coast debuts with California.

11. Maine

Ranked as the 9th least populated state, Maine saw a total 81 foreclosures in February. With a total 742,788 housing units, its foreclosure rate was 1 in every 9,170 homes. The counties with the most foreclosures per housing unit were (in descending order): Oxford, Penobscot, Franklin, Waldo, and Somerset.

12. California

The most populated state is only 12th for foreclosures. Of its 14,175,976 homes, 1,427 went into foreclosure, making for a foreclosure rate of 1 in every 9,934 homes. The counties with the most foreclosures per housing unit were (in descending order): Calaveras, Sutter, Trinity, Kern, and Butte.

13. North Carolina

The 9th most populated state has 4,627,089 homes, of which 462 homes went into foreclosure. That makes the state’s foreclosure rate 1 in every 10,015 homes. The counties with the most foreclosures per housing unit were (in descending order): Hyde, Anson, Lenoir, Onslow, and Bertie.

14. Missouri

Of Missouri’s 2,790,397 housing units, 265 homes went into foreclosure in February. The 18th most populated state’s foreclosure rate is 1 in every 10,530 households. The counties with the most foreclosures per housing unit were (in descending order): Moniteau, Pike, Montgomery, Greene, and Adair.

Recommended: What Is a Short Sale?

15. Iowa

The 30th most populated state, Iowa is 15th for most foreclosures. Of its 1,397,087 homes, 128 were foreclosed on. That puts the state’s foreclosure rate at 1 in every 10,915 households. The counties with the most foreclosures per housing unit were (in descending order): Guthrie, Wayne, Hamilton, Davis, and Adair.

16. Oklahoma

With 154 of its 1,731,632 homes going into foreclosure, Oklahoma’s foreclosure rate is 1 in every 11,244 households. In the 28th most populated state, the counties with the most foreclosures per housing unit were (in descending order): Roger Mills, Pawnee, Pontotoc, Muskogee, and Choctaw.

17. Alabama

Ranked 24th for most populated, Alabama was 17th for foreclosures. Of its 2,255,026 homes, 198 went into foreclosure, making for a foreclosure rate of 1 in every 11,389 homes. The counties with the most foreclosures per housing unit were (in descending order): Marshall, Jefferson, Coffee, Autauga, and Shelby.

18. New Jersey

New Jersey has a total of 3,616,614 housing units and 317 homes are in foreclosure. While it’s ranked 11th most populated state, its foreclosure rate of 1 in every 11,409 homes puts it in 18th place. The counties with the most foreclosures per housing unit were (in descending order): Salem, Atlantic, Sussex, Gloucester, and Cumberland.

19. Alaska

The third least populated state, Alaska has 314,670 homes, of which 26 went into foreclosure in February. That means its foreclosure rate is 1 in every 12,103 homes. The counties with the most foreclosures per housing unit were (in descending order): Matanuska-Susitna, Anchorage, Fairbanks North Star, Juneau, and Kenai Peninsula.

20. Mississippi

In the number 20 spot for most foreclosures,Mississippi ranks as 33rd for most populated–and has 1,322,808 homes. A total 107 went into foreclosure in February, making the state’s foreclosure rate 1 in every 12,363 households. The counties with the most foreclosures per housing unit were (in descending order): Scott, Simpson, Lawrence, Bolivar, and Pike.

States with the Highest Foreclosure Rates: 21 – 30

The remaining states (21 to 30) in our rankings of the highest foreclosure rates are mainly located in the Northeast: New Hampshire, Massachusetts, Connecticut, and Pennsylvania. The Midwest and Southwest were tied with two states each: Wisconsin and Nebraska and Texas and Arizona.

21. Connecticut

With housing units totaling 1,516,629, Connecticut saw 116 homes go into foreclosure. That puts the 29th most populated state in 21st place, with a foreclosure rate of 1 in every 13,074 homes. The counties with the most foreclosures per housing unit were (in descending order): Windham, Litchfield, Tolland, Hartford, and Middlesex.

22. Arizona

Though ranked as the 14th most populated state, Arizona’s total 228 foreclosures (out of 3,003,286 total housing units) puts it in 22nd place for most foreclosures. The state’s foreclosure rate is 1 in every 13,172 households. The counties with the most foreclosures per housing unit were (in descending order): Apache, Mohave, Pima, Santa Cruz, and Pinal.

23. Pennsylvania

With a total 5,693,314 housing units, Pennsylvania saw 421 homes go into foreclosure. That puts the foreclosure rate for the 5th most populated state at 1 in every 13,523 households. The counties with the most foreclosures per housing unit were (in descending order): Philadelphia, Lycoming, Cambria, Luzerne, and Wyoming.

24. Maryland

The 19th most populated state ranks 24th for foreclosures. Of its 2,448,422 housing units, 170 went into foreclosure, making for a foreclosure rate of 1 in every 14,402 homes. The counties with the most foreclosures per housing unit were (in descending order): Somerset, Allegany, Prince George’s County, Caroline, and Baltimore City.

25. Wisconsin

In Wisconsin, the 20th most populated state, there were 179 foreclosures (out of 2,694,527 housing units.) That puts its foreclosure rate at 1 in every 15,053 homes. The counties with the most foreclosures per housing unit were (in descending order): Florence, Ashland, Langlade, Vernon, and Grant.

26. Massachusetts

Ranked 15th for most populated, Massachusetts came in as 26th for foreclosures. With 2,897,259 housing units and 172 homes in foreclosure, the state’s foreclosure rate was 1 in every 16,845 households. The counties with the most foreclosures per housing unit were (in descending order): Hampden, Franklin, Berkshire, Worcester, and Barnstable.

Recommended: Home Buying 101: How Much House You Can Afford

27. Texas

The second most populated state was 27th for foreclosures. Of 10,937,026 homes, 636 went into foreclosure, making for a foreclosure rate of 1 in every 17,197 households. The counties with the most foreclosures per housing unit were (in descending order): Liberty, Atascosa, Franklin, Mills, and Mcculloch.

28. New Hampshire

New Hampshire’s total number of foreclosures was only in the double digits: 35. But in a state with the 10th smallest population (and 634,726 housing units), that number put it in the 28th spot for foreclosures, making for a foreclosure rate of 1 in every 18,135 households. The counties with the most foreclosures per housing unit were (in descending order): Cheshire, Sullivan, Merrimack, Belknap, and Strafford.

29. Nebraska

With 46 of a total 837,476 housing units in foreclosure, Nebraska’s total number is also in the double digits. But with a foreclosure rate of 1 in every 18,206 households, the 14th least populated state holds 29th for foreclosures.. The counties with the most foreclosures per housing unit were (in descending order): Cuming, Nemaha, Red Willow, Scotts Bluff, and Antelope.

30. Virginia

Last but not least, Virginia saw 192 homes go into foreclosure in February. That nabbed the 12th most populated state the 30th spot on our list. With 3,514,032 total housing units, the state’s foreclosure rate was 1 in every 18,302 households. The counties with the most foreclosures per housing unit were (in descending order): Emporia City, Norton City, Nottoway, King William, and Lancaster.

The Takeaway

Of the top 20 states with the highest foreclosure rates, half were in the South: Delaware, Florida, Louisiana, South Carolina, Georgia, North Carolina, Missouri, Oklahoma, Alabama, and Mississippi. Of the top 30 states, Florida had the most number of foreclosures (1,516) and Alaska had the least (26).

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