2013 CFED Scorecard

Financial Assets & Income

Outcome Measures

Income Poverty Rate

Asset Poverty Rate

Asset Poverty by Race

Asset Poverty by Gender

Asset Poverty by Family Structure

Liquid Asset Poverty Rate

Liquid Asset Poverty by Race

Liquid Asset Poverty by Gender

Liquid Asset Poverty by Family Structure

Extreme Asset Poverty Rate

Net Worth

Net Worth by Race

Net Worth by Income

Net Worth by Gender

Net Worth by Family Structure

Unbanked Households

Underbanked Households

Households with Savings Accounts

Consumers with Subprime Credit

Borrowers 90+ Days Overdue

Average Credit Card Debt

Bankruptcy Rate

Policy Priorities

Tax Credits for Working Families

State IDA Program Support

Lifting Asset Limits in Public Benefit Programs

Protections from Predatory Short-Term Loans

Additional Policies

Income Tax Threshold

Tax Burden by Income

Prize-Linked Savings

Paperless Payday

Trend Indicators

Change in Net Worth

Change in Asset Poverty

Change in Liquid Asset Poverty

Change in Consumers with Subprime Credit

Change in Average Credit Card Debt

Businesses & Jobs

Housing & Homeownership

Health Care

Education

CFED Assets & Opportunity Scorecard

Asset Poverty by Race

Reports & Graphics

Definition

Ratio of the asset poverty rate of white, non-Hispanic households to households of color (Black or African-American; Asian; Hispanic or Latino; other races), 2010.

Calculated by dividing the higher value by the lower value, i.e., the asset poverty rate of households of color divided by white households.

A ratio of 1 indicates perfect equality; the higher the ratio, the greater the inequality. For example, the asset poverty rate for households of color in South Carolina is 3.5 times higher than for white households.

Data are point estimates produced from a national survey with relatively small samples for some states, which can result in imprecise estimates and ranks. States are not ranked on this measure due to insufficient data at the state level. For more information on how we measured precision and to download margin of error data for each state, see here.

Description

This measure describes the disparity in asset poverty between white households and households of color. Asset poverty is significantly higher for households of color, indicating that these households are more vulnerable to a financial crisis or a loss of income. In Wisconsin, for example, 17.6% of white households are asset poor compared to 57.6% of households of color, indicating that households of color in Wisconsin are slightly more than three times more likely to be asset poor than their white counterparts.

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Asset Poverty by Race

StateAsset Poverty,
White Households (%)
Asset Poverty,
Households of Color (%)
Ratio
United States  19.4%  41.6%  2.15 
Alabama  14.5%  34.4%  2.37 
Alaska  —  —  — 
Arizona  22.0%  44.2% * 2.01 
Arkansas  24.0% * 47.3% * 1.98 
California  19.8%  38.2%  1.93 
Colorado  20.8%  —  — 
Connecticut  16.6% * —  — 
Delaware  18.4%  —  — 
District of Columbia  —  —  — 
Florida  22.5%  42.8%  1.90 
Georgia  20.2%  41.4%  2.05 
Hawaii  —  17.9% * — 
Idaho  28.1% * —  — 
Illinois  17.9%  50.0%  2.79 
Indiana  19.2%  46.3%  2.42 
Iowa  22.4%  —  — 
Kansas  16.4%  —  — 
Kentucky  21.8% * —  — 
Louisiana  18.5% * 39.6%  2.13 
Maine  20.4% * —  — 
Maryland  13.4%  36.4%  2.73 
Massachusetts  22.4%  46.6%  2.08 
Michigan  21.1%  46.2%  2.19 
Minnesota  16.2%  —  — 
Mississippi  20.8%  37.7%  1.81 
Missouri  17.4%  48.7%  2.79 
Montana  25.1% * —  — 
Nebraska  19.9% * —  — 
Nevada  34.3%  —  — 
New Hampshire  20.5%  —  — 
New Jersey  14.9%  36.1%  2.43 
New Mexico  14.2% * —  — 
New York  21.7%  56.0%  2.58 
North Carolina  17.1%  45.0%  2.63 
North Dakota  —  —  — 
Ohio  20.8%  54.9%  2.64 
Oklahoma  21.9%  27.3%  1.25 
Oregon  20.9%  —  — 
Pennsylvania  17.6%  32.6% * 1.86 
Rhode Island  25.1%  —  — 
South Carolina  12.9% * 45.3%  3.52 
South Dakota  26.1% * —  — 
Tennessee  17.9%  41.9%  2.34 
Texas  18.9%  38.4%  2.03 
Utah  22.1% * —  — 
Vermont  21.0%  —  — 
Virginia  11.4%  31.7%  2.77 
Washington  20.4%  35.1%  1.72 
West Virginia  15.2%  —  — 
Wisconsin  17.6%  57.6%  3.27 
Wyoming  —  —  — 

Source

Survey of Income and Program Participation, 2008 Panel, Wave 7. Washington, DC: U.S. Department of Commerce, Census Bureau, 2010. Data calculated by the Bay Area Council Economic Institute.

"—" indicates that no data is available, or data is suppressed due to a margin of error that is greater than 50% of the estimate.

Footnotes

* Indicates that the margin of error is greater than 25% of the estimate, and as such, this estimate is too imprecise to rank. Caution should be used when using this data.

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