Nobody has published a real cross-state foreclosure auction ROI comparison. Not because investors don't want it, but because almost nobody has auction data across multiple states to do it.
AuctionScout tracks foreclosure auction results in three states: Ohio, Florida, and Pennsylvania (see the counties we cover). That dataset makes a true apples-to-apples comparison possible for the first time. This guide is it.
Here's what the numbers show, and what they mean for investors deciding where to deploy capital in 2026.
Why This Comparison Matters
Most foreclosure investing content stays state-specific. You'll find "how to invest in Ohio sheriff sales" and "Florida foreclosure auction guide" as separate articles, written by people who know one market. Cross-state comparisons are either anecdotal ("I've done deals in both") or oversimplified ("Ohio is cheap, Florida has beaches").
Neither helps you decide where to focus your next six months of deal flow.
The question investors actually ask: If I'm going to invest time and capital in learning a new market, which state offers the best data-backed ROI profile?
That's what this guide answers.
The Dataset: AuctionScout's Three States
What we track:
- Listed properties per sale
- Sold to investors vs. returned to lender (credit bid / certificate of title to plaintiff)
- Sale prices and opening bid amounts
- Implied discount to estimated market value where data is available
- Auction frequency and volume trends
Coverage as of October 2026:
- Ohio: the Ohio counties AuctionScout tracks
- Florida: the Florida counties AuctionScout tracks
- Pennsylvania: 7 counties (Butler, Fayette, Lancaster, Lebanon, Pike, Washington, York)
Period: unless a figure says otherwise, the numbers below cover auctions from October 2024 (when Florida and Pennsylvania tracking began) through September 30, 2026, as of October 2026. Sale rate is sold over lots with a reported result.
This isn't a national scraped dataset. It's transaction-level data from actual auction results in each county.
Ohio Deep-Dive: High Volume, Appraisal-Based Minimum
Ohio sheriff sales are the most investor-accessible foreclosure auction market in our dataset. Here's why.
How Ohio Sales Work
Ohio sheriff sales are administered by the County Sheriff under Ohio Revised Code. Key mechanics:
- Minimum bid: Two-thirds of the court-appraised value (the "2/3 minimum")
- Deposit: Varies by bid amount; ORC-defined tiers ($2,000 under $10K; $5,000 from $10K–$200K; $10,000 above $200K); verify current requirements with each county
- Lien survival: Most junior liens are extinguished at sheriff sale; first mortgage position property reverts clean
The 2/3 minimum is a critical investor advantage. Properties that are underwater don't get listed with an upset price that exceeds market value. The court appraisal creates a realistic entry floor.
Ohio Sale Rate Data
Ohio sale-rate figures are being re-checked and will return when verified.
AuctionScout recorded 19,070 Ohio lots listed from October 2024 through September 30, 2026 (as of October 2026). Cuyahoga County alone accounts for about 40% of them.
The 2/3 minimum bid structure sets the opening bid from the court appraisal rather than from the debt owed.
Ohio ROI Profile
- Median discount to est. market value: 37.0% below, across the 5,749 Ohio sales with an eligible estimate (same period)
- Post-auction acquisition costs: deed recording, title search, minor administrative fees
- Time to possession: 30–60 days post-confirmation; faster than FL or PA
- Data availability: Excellent: every Ohio county we track runs its sales on the same RealAuction platform
Florida Deep-Dive: Higher Costs, Strong Discount Depth
Florida's foreclosure auction system is structurally different from both Ohio and Pennsylvania. Understanding the mechanics is essential before comparing ROI.
How Florida Foreclosure Auctions Work
Critical terminology: Florida runs foreclosure auctions, not sheriff sales. These auctions are administered by the Clerk of the Circuit Court, not the county sheriff. If you're researching Florida, search "Florida foreclosure auction" or "[county] clerk of court auction." Never search "Florida sheriff sale."
Key mechanics:
- Online auctions: Florida foreclosure auctions are conducted online through platforms like RealAuction or Bid4Assets, depending on the county
- Opening bid: Set by the plaintiff (lender); can be as low as $100 in some cases
- 5% deposit: Required at time of winning bid
- Certificate of title: Issued by the Clerk of Court after 10-day objection period
- Carrying costs: Florida's higher insurance costs and property tax rates push post-acquisition holding costs up
Florida Sale Rate Data
| County | Sale Rate | Notes |
|---|---|---|
| Duval (Jacksonville) | 47.6% | 960 sold of 2,018 with a reported result; median sold price $105,350 |
| Pinellas (St. Pete) | 40.0% | 563 sold of 1,406; median $155,100 |
| Hillsborough (Tampa) | 36.8% | 856 sold of 2,328; median $178,600 |
| Miami-Dade | 32.6% | 1,435 sold of 4,401; median $284,000 |
| Broward (Ft. Lauderdale) | 32.2% | 1,375 sold of 4,269; median $103,900 |
Florida tracked-county figure (AuctionScout dataset): 38.7% sale rate (12,833 sold of 33,153 lots with a reported result)
Period: October 2024 through September 30, 2026, as of October 2026. "Sold" counts every lot the clerk reports as sold, which can include the foreclosing plaintiff's own winning bid.
Fewer than four in ten Florida lots with a reported result sold. Most of the rest never reach bidding: 16,898 of the 33,310 listed Florida lots (50.7%) were cancelled before the sale.
Florida ROI Profile
- Median discount to est. market value: 42.0% below, across the 8,785 Florida sales with an eligible estimate (same period), the deepest of the three states
- Post-auction acquisition costs: higher insurance premiums, property taxes, potential HOA arrears, Clerk fees
- Time to possession: 30–60 days post-title issuance; can extend with contested titles
- Data availability: Good across major counties; smaller counties less consistent
Pennsylvania Deep-Dive: Low Clearance, Structural Barriers
Pennsylvania is the outlier in this dataset. Understanding why is more useful than the raw numbers.
How Pennsylvania Sheriff Sales Work
PA sheriff sales are administered by the County Sheriff under Pennsylvania's foreclosure statutes. The critical mechanic is the upset price.
- Upset price: In some counties the opening bid is set at or near the total debt owed (mortgage balance, delinquent taxes, attorney fees, court costs); in others it is far lower, so check each listing. There is no court appraisal discount.
- Credit bids: When the upset price exceeds market value, the lender bids the amount owed without transferring cash. The property returns to the lender as REO.
- 10% deposit: Typically required at the time of sale
- Deed delivery: 30–60 days post-sale after confirmation period
PA sale rates are structurally low, but in our data the reason is mostly upstream of the auction: the large majority of listed properties are postponed or cancelled before bidding. That holds in every one of the seven PA counties we track, so it reflects how PA foreclosures move, not market timing.
Pennsylvania Sale Rate Data
| County | Sale Rate | Notes |
|---|---|---|
| Fayette | 30.8% | 135 sold of 439 listed |
| Butler | 30.5% | 106 sold of 348 listed |
| Washington | 27.8% | 227 sold of 818 listed |
| York | 19.2% | 263 sold of 1,373 listed |
| Pike | 18.0% | 53 sold of 294 listed (tracked from September 2025) |
| Lebanon | 16.6% | 49 sold of 296 listed |
| Lancaster | 14.7% | 93 sold of 631 listed |
Pennsylvania 7-county figure (AuctionScout dataset): 22.1% sale rate (926 sold of 4,199 listed)
Sale rate is sold over lots with a reported result; every PA lot in this window has one. Period: all sales since tracking began (October to November 2024; Pike from September 2025) through September 30, 2026, as of October 2026.
Most of the rest never reach bidding: 2,269 of the 4,199 PA lots (54.0%) were postponed and 992 (23.6%) were cancelled. Of the 926 PA sales, 532 were at exactly the opening bid, most likely the foreclosing plaintiff buying the property back. Investors are sorting through large lists to find the subset that actually goes to sale with a realistic upset price.
Pennsylvania ROI Profile
- Median discount to est. market value: 40.7% below, across the 321 PA sales with an eligible estimate (same period). Est. market value is the value of a comparable home in normal condition; sheriff-sale properties sell as-is, often without an interior inspection, and the buyer may take on surviving liens, repairs and possession costs, so the gap is not a profit margin
- Post-auction acquisition costs: deed costs, title insurance, potential municipal lien resolution in urban markets
- Time to possession: 30–60 days post-confirmation
- Data availability: Limited (7 counties tracked); statewide data is sparse compared to OH/FL
Sale Rate Comparison: Why the Gap Matters
Florida sold 38.7% of lots with a reported result. Pennsylvania's 22.1% means most of your research time goes toward properties that are postponed or cancelled before they ever reach bidding. That research overhead is a real cost.
Head-to-Head ROI Table
| Metric | Ohio | Florida | Pennsylvania |
|---|---|---|---|
| Sale rate (sold / lots with a reported result) | Being re-checked | 38.7% | 22.1% |
| Median below est. market value | 37.0% (n=5,749) | 42.0% (n=8,785) | 40.7% (n=321) |
| Median sold price | Being re-checked | $150,100 | $122,250 |
| Main post-auction costs | Deed recording, title search | Insurance, property taxes, HOA arrears, Clerk fees | Deed costs, title insurance, municipal liens |
| Time to possession | 30–60 days | 30–60 days | 30–60 days |
| Data availability | Excellent | Good | Limited |
| Listed lots postponed or cancelled before sale | 32.7% | 54.2% | 77.7% |
| Auction format | Online (RealAuction) | Online | Online (RealAuction) |
| Opening bid mechanism | 2/3 court appraisal | Plaintiff-set | Full upset price (total debt) |
Which State Wins? A Framework for Your Investor Profile
There's no universal answer. The right state depends on your investment profile.
Best for: Investors who want most of the list to reach the auction
→ Ohio
Only 32.7% of listed Ohio lots were postponed or cancelled before sale, against 54.2% in Florida and 77.7% in Pennsylvania, so more of each Ohio list reaches the auction. The 2/3 minimum bid creates realistic entry points. Post-auction costs are low.
Best starting counties: Franklin (Columbus), Cuyahoga (Cleveland), Hamilton (Cincinnati).
Best for: Investors seeking maximum discount depth
→ Florida
Florida's deeper median discount (42.0% below est. market value, against 37.0% in Ohio) can produce better per-deal returns than Ohio, if you can absorb the higher carrying costs. The online auction format also means you can participate without being physically present.
Best starting counties: Duval (Jacksonville), Pinellas (St. Pete), Hillsborough (Tampa).
Best for: Contrarian investors willing to do more research
→ Pennsylvania
Only 22.1% of listed PA lots sold in our data, so most of each list never reaches bidding. Investors who do rigorous pre-sale analysis, identifying the subset of properties where the upset price is genuinely below market value, can spend their time on the lots that matter. It requires more homework per deal, but that homework creates an edge.
Best starting counties: York, Washington, Lancaster (the three largest PA lists we track: 1,373, 818 and 631 lots since late 2024).
The hybrid case
If you're already active in one state, the data suggests a diversification argument: Ohio investors already work a market where most listed lots reach the auction, and can add Florida's discount depth at a higher cost basis. Pennsylvania is a specialty play for investors who can absorb the research overhead.
Frequently Asked Questions
What is a good foreclosure auction ROI? ROI varies by strategy (flip vs. hold) and market. The data metrics that matter most are: discount to ARV at the time of purchase, post-acquisition costs (including carrying costs and repairs), and time to disposition. Sale rate is a proxy for market accessibility.
Is Ohio or Florida better for foreclosure investing in 2026? Ohio offers more consistent volume and lower post-acquisition costs. Florida offers deeper discounts in many markets but higher carrying costs and more complex title issues in some counties. The right answer depends on your capital available and whether you can handle Florida's higher post-auction cost structure.
Why is Pennsylvania's sale rate so low? Most PA listings never reach bidding: in our data, 54.0% of lots were postponed and 23.6% were cancelled. When a sale does go ahead, the opening bid in some counties is set at or near the total debt owed, and when a property is underwater (the debt exceeds market value), the lender bids the debt and takes the property back. This is structural, not cyclical. It's not a sign of a depressed market; it's how the PA system is designed.
Can I invest in all three states from one platform? AuctionScout tracks auction results in all three states. You can monitor upcoming sales, historical sale rates, and county-level data across OH, FL, and PA from a single dashboard.
Which state has the least investor competition? We don't measure bidder counts, so we can't rank the states on competition, and a low sale rate doesn't measure it either. What our data does show is the research burden: 77.7% of listed Pennsylvania lots were postponed or cancelled before sale, against 54.2% in Florida and 32.7% in Ohio (October 2024 through September 2026).
How do I start with foreclosure auction investing? Pick one state, learn its legal mechanics thoroughly, and start tracking results in 2–3 counties before bidding. AuctionScout's county recap pages provide historical sale data to help you calibrate before you commit capital.
Bottom Line
The three-state comparison data points to a clear pattern: Ohio is the market where the largest share of listed lots reaches the auction, Florida offers the deepest discount potential at higher carrying costs, and Pennsylvania is a high-research specialty market.
No competitor publishes this comparison because no competitor has auction-specific data across all three states. AuctionScout does.
Start tracking auctions across Ohio, Florida, and Pennsylvania, all from one dashboard, at AuctionScout. County recap pages for every county we track are updated after every sale.
Data sources: AuctionScout auction tracking database, auctions from October 2024 through September 30, 2026, as of October 2026. Sale rate is sold over lots with a reported result; discounts are medians vs est. market value, which assumes a comparable home in normal condition, so the gap is not a profit margin. Individual county results vary. Post-auction costs vary by property condition, location, and investor strategy. Consult a licensed real estate attorney in each state before bidding.