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 Rate

Reports & Graphics

Definition

Percentage of households without sufficient net worth to subsist at the poverty level for three months in the absence of income, 2010.

The threshold used to determine the asset poverty rate varies by family size. A family of four with net worth less than $5,763 in 2012 is asset poor.

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 because estimates are too imprecise to say with confidence how the state compares to other states. For more information on how we measured precision and to download margin of error data for each state, see  here.

Description

This measure expands the notion of poverty to include how much of a financial cushion a household has to weather financial crises such as a job loss, medical emergency or the need to fix a car. Three months’ of living expenses at the poverty level is a conservative cushion for a family that loses its income, and asset poverty includes durable assets, such as a home or business, that would need to be liquidated to cover day-to-day needs. Even with this conservative definition, asset poverty exceeds income poverty in all states and the District of Columbia except for West Virginia.

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Asset Poverty Rate

StateAsset Poverty Rate (%)
United States  26.0% 
Alabama  21.2% 
Alaska  — 
Arizona  30.0% 
Arkansas  28.4% 
California  29.9% 
Colorado  26.3% 
Connecticut  23.5% 
Delaware  23.8% *
District of Columbia  30.3% 
Florida  29.6% 
Georgia  29.3% 
Hawaii  14.6% *
Idaho  31.9% *
Illinois  26.4% 
Indiana  22.9% 
Iowa  22.8% 
Kansas  22.2% 
Kentucky  23.7% 
Louisiana  26.1% 
Maine  22.9% 
Maryland  22.8% 
Massachusetts  27.1% 
Michigan  25.8% 
Minnesota  19.3% 
Mississippi  29.5% 
Missouri  22.2% 
Montana  25.5% *
Nebraska  21.1% 
Nevada  43.9% 
New Hampshire  21.0% 
New Jersey  26.0% 
New Mexico  26.0% 
New York  32.9% 
North Carolina  26.8% 
North Dakota  — 
Ohio  26.3% 
Oklahoma  23.4% 
Oregon  24.1% 
Pennsylvania  19.6% 
Rhode Island  27.2% 
South Carolina  23.9% 
South Dakota  26.6% *
Tennessee  23.0% 
Texas  25.9% 
Utah  23.1% 
Vermont  20.6% 
Virginia  17.7% 
Washington  23.2% 
West Virginia  15.5% 
Wisconsin  21.4% 
Wyoming  21.5% *

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.

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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