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

Homeownership by Income

Reports & Graphics

Definition

Ratio of the homeownership rate of households in the top income quintile to households in the bottom income quintile, 2011.

Calculated by dividing the higher value by the lower value, i.e., the homeownership rate of top income quintile households divided by bottom income quintile households. Income quintiles are calculated at the state level, and the income thresholds used to define quintiles can be found here.

A ratio of 1 indicates perfect equality; the higher the ratio, the greater the inequality. For example, the homeownership rate for households in the top income quintile in Rhode Island is 3.2 times higher than for households in the bottom income quintile. 

Description

Homeownership is the primary means of building wealth for most Americans, and studies have noted the particular importance of home equity as source of wealth accumulation for low-income households. This measure describes the disparity in homeownership rates between rich and poor households, and in every state, low-income families have significantly lower rates of homeownership. For example, in the District of Columbia, households in the top income quintile are four times more likely to be homeowners than households in the bottom quintile (73.9% to 15.3%, respectively).

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Homeownership by Income

StateHomeownership Rate,
Top Quintile (%)
Homeownership Rate,
Bottom Quintile (%)
RatioRank
United States  86.9%  38.7%  2.25   
Alabama  90.6%  46.2%  1.96 
Alaska  86.7%  39.5%  2.19  21 
Arizona  85.2%  42.8%  1.99  10 
Arkansas  88.0%  41.6%  2.12  13 
California  80.8%  30.6%  2.64  44 
Colorado  88.6%  36.8%  2.41  37 
Connecticut  92.1%  34.2%  2.70  46 
Delaware  88.1%  46.8%  1.88 
District of Columbia  73.9%  15.3%  4.83  51 
Florida  86.9%  47.5%  1.83 
Georgia  89.4%  38.4%  2.33  33 
Hawaii  81.8%  30.0%  2.73  47 
Idaho  88.6%  41.0%  2.16  18 
Illinois  90.9%  38.6%  2.35  35 
Indiana  93.5%  39.9%  2.35  34 
Iowa  93.8%  41.3%  2.27  31 
Kansas  91.6%  40.7%  2.25  29 
Kentucky  92.6%  40.9%  2.27  30 
Louisiana  89.8%  40.7%  2.21  23 
Maine  91.6%  42.6%  2.15  17 
Maryland  90.4%  40.8%  2.22  26 
Massachusetts  88.4%  30.5%  2.90  48 
Michigan  92.9%  42.3%  2.20  22 
Minnesota  94.4%  42.0%  2.24  28 
Mississippi  89.3%  47.3%  1.89 
Missouri  91.3%  40.0%  2.28  32 
Montana  90.0%  44.3%  2.03  12 
Nebraska  93.2%  42.1%  2.22  24 
Nevada  79.9%  33.6%  2.38  36 
New Hampshire  95.2%  44.4%  2.14  16 
New Jersey  89.5%  36.2%  2.47  42 
New Mexico  89.8%  45.2%  1.99 
New York  78.2%  24.2%  3.23  50 
North Carolina  89.9%  42.1%  2.14  15 
North Dakota  91.4%  37.3%  2.45  40 
Ohio  92.2%  34.9%  2.64  45 
Oklahoma  91.3%  41.2%  2.22  25 
Oregon  87.6%  33.5%  2.61  43 
Pennsylvania  91.5%  41.1%  2.23  27 
Rhode Island  89.0%  27.8%  3.21  49 
South Carolina  90.5%  45.4%  1.99  11 
South Dakota  90.1%  42.3%  2.13  14 
Tennessee  90.5%  41.6%  2.17  19 
Texas  87.1%  39.8%  2.19  20 
Utah  91.3%  37.4%  2.44  39 
Vermont  92.4%  48.4%  1.91 
Virginia  87.9%  44.9%  1.96 
Washington  86.5%  35.6%  2.43  38 
West Virginia  88.1%  46.2%  1.91 
Wisconsin  92.7%  37.8%  2.45  41 
Wyoming  89.5%  47.7%  1.88 

Source

2011 American Community Survey. Washington, DC: U.S. Department of Commerce, Census Bureau, 2012.

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