Waller County Texas Foreclosure Filing Statistics – 2015 to 2024

This Waller County foreclosure filing data (which encompasses Hempstead, Brookshire, the far west side of Katy and various other smaller towns) provides a comprehensive overview of the real estate market dynamics in the Waller County area over the past decade. This dataset encompasses a range of significant events, including natural disasters, socio-economic challenges and fluctuations in the unemployment and average mortgage interest rates.

By analyzing the foreclosure filings from 2015 to 2024, we can gain valuable insights into the impact of these events on homeowners and the Waller County real estate market as a whole. It is crucial to note that a foreclosure filing does not necessarily result in a completed foreclosure, but rather indicates the initiation of the foreclosure process.

In 2023, the Waller County foreclosure rate for filings initiated rose 83.33% vs. 2022 – with 2023 Q4 foreclosure rates up 53.3% over Q4 of 2022. In 2024, year over year foreclosure filings in Waller saw an increase with 2024 Q1 foreclosure filings up 17.3% vs. those initiated in Q1 of 2023. 2024 Q2 filings in Waller County rose 9.375% versus filings initiated for Q2 in 2024. 2024 Q3 filings in Waller County dropped -23.09% versus filings initiated for Q3 in 2023.

An important thing to consider when looking at the Waller County foreclosure filing rates listed below is the significant growth the county has undergone since 2010. The U.S. Census Bureau reports that Waller County has had a 47% increase in population between 2010 and 2023. And, while Waller County's growth has been relatively significant, Waller County is still small in population – with a little more than 63,000 residents reported in the most recent Census – which is only 1.3% of the residents counted in neighboring Harris County – which includes the city of Houston.

Full foreclosure statistics for the last nine+ years are listed below.

*Year to date data that was available as of the last article update.

In May of 2015, the greater Houston area – which includes Waller County – experienced what is locally referred to as “The Memorial Day Floods” with some areas getting up to 11 inches of rainfall in a 9-hour timespan. More than 3,000 homes and more than 3,500 multifamily units were flooded in the event, which caused over 459 million in damage to the Houston area. While Waller County was one of the areas affected in these floods, though there is little publicly available data on exactly how much damage Waller County endured.

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In April of 2016, the grater Houston area – which includes Waller County – was affected by a flooding event locally referred to as “The Tax Day Floods” with Waller county experiencing over 24 inches of rainfall in under 24 hours – one of the highs for the storm – which flooded roads, vehicles and tens of thousands of homes and businesses across the greater Houston area – with Waller county homeowners filing over 400 FEMA claims. Overall damage from the Tax Day Floods is estimated to have been in the neighborhood of 2.7 billion.

Many homes that flooded were not in designated flood plains and as a result, did not carry flood insurance, leaving their losses uninsured and repairs costs to come out of their own pockets. As a result, some mortgage companies worked with affected homeowners to keep them out of foreclosure status.

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In August of 2017, Hurricane Harvey hit the greater Houston area – which includes Waller County – hard. Between the unprecedented amount of rainfall – estimated at 30-35 inches in Brookshire – a city within Waller County. More than 185,000 Texas homes were damaged and more than 9,000 were completely destroyed. The storm was responsible for 125 billion dollars in damage. Waller County specifically was estimated to have had nearly 5,000 properties damaged in the storm.

Being based in Katy, AMI was profoundly aware of the devastation and impact Harvey had on Waller County – which includes the far west side of Katy. We helped in relief efforts – both financially and with sweat equity – and bought numerous homes that had flooded in the storm. It is estimated that 80% of the homes flooded in Hurricane Harvey did not have flood insurance – which meant the expense of rehabilitating their homes fell squarely on their own personal funds. As a result, many mortgage companies showed some statewide grace in the months following the storm.

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On March 13, 2020, Governor Abbot declared a statewide emergency due to the Covid-19 pandemic. Unlike neighboring Harris County, which declared a state of emergency on March 24, 2020 over the pandemic and took the Governor's order even further – eventually shutting down most businesses in Harris – Waller County issued a social distancing order on March 25th, 2020, which was a stark contrast from neighboring Harris County's full-blown Stay at Home Order issued the day before.

While Waller County allowed most businesses to keep operating – with some guidelines in place – some residents were still affected financially by the Harris County shut downs as many commuted from Waller to employment within Harris – which encompasses large parts of Katy and all of Houston – even though the county they lived in was in never fully shut down.

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In February of 2021, Texas experienced record-low temperatures that resulted in an event dubbed The Great Texas Feeeze. While the temperatures experienced during this event are common in other areas of the country, Texas infrastructure and building practices do not prepare residences and buildings to withstand the freezing temperatures that were experienced in the event. 4.5 million Texans lost power to their homes.

As a result, tens of thousands of homes and businesses had pipes freeze. Due to a lack of preparation for these temperatures in plumbing systems, this caused widespread damage – with some estimates as high as 40% in neighboring Harris County – as the frozen water inside burst pipes began melting and invading their houses once the power was restored and homes warmed back up. The freeze resulted in an estimated 195 billion dollars in damage across Texas.

While, unlike Harvey, many of these damages were covered by insurance, insurance adjusters and numerous contractor professions – especially plumbers – and their supply chains, were overwhelmed by the sheer volume of people needing their services and supplies – causing significant delays in the ability to have affected homes undergo needed repairs. After a natural disaster like this, mortgage companies typically tend to work with people affected who fall behind in mortgage payments vs. accelerating foreclosure processes.

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On July 8, 2024, Hurricane Beryl made landfall as a category one hurricane in the Greater Houston area. The storm left millions without power – some for more than two weeks and was responsible for 20+ deaths in the Houston area. The storm caused hundreds of millions of dollars in insured damages and is estimated to have a total damages cost in the billions for the overall Houston area.

That said, Waller County was not in the direct path of the storm and sustained much less damage than the areas to the East of Waller. Waller sustained power outages and heavy rains, but thankfully, no casualties and a yet unknown cost of property damage.

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Statistical data surrounding the Waller County Unemployment Rate by year was sourced from the FRED economic data compiled by the St. Louis Fed. There is an acknowledged correlation between increased unemployment rates and foreclosure filings.

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Statistical data surround the average 30-year-mortgage interest rates was sourced from Freddie Mac. As fixed interest rates rise, so do adjustable-rate mortgage (ARMs) interest rates. Existing homeowners with ARMs can see their monthly payments increase when mortgage interest rates rise, which might lead to financial strain and increase the risk of falling into foreclosure.

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Article Updates

This article is updated monthly near the end of each month to reflect foreclosure filings for the current calendar month. Foreclosure filing data is sourced from the Waller County Clerk. This article was last updated on November 4, 2024.

More foreclosure statistics:

• Houston Foreclosures