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

Liquid Asset Poverty by Race

Reports & Graphics

Definition

Ratio of the liquid 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 liquid 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 liquid asset poverty rate for households of color in Illinois is 2.2 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 liquid asset poverty between white households and households of color. Liquid asset poverty is significantly higher for households of color, indicating that these households are more vulnerable to a financial crisis and are less able to meet emergency financial needs. For example, households of color in Maryland are 2.2 times more likely to be liquid asset poor than white households.

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Liquid Asset Poverty by Race

StateLiquid Asset Poverty,
White Households (%)
Liquid Asset Poverty,
Households of Color (%)
Ratio
United States  34.8%  62.6%  1.80 
Alabama  56.5%  78.4%  1.39 
Alaska  —  —  — 
Arizona  33.6%  59.8%  1.78 
Arkansas  44.9%  75.3%  1.68 
California  30.5%  50.5%  1.66 
Colorado  37.3%  —  — 
Connecticut  26.8%  —  — 
Delaware  31.3%  —  — 
District of Columbia  —  —  — 
Florida  41.0%  66.9%  1.63 
Georgia  46.8%  68.9%  1.47 
Hawaii  —  31.8%  — 
Idaho  39.7%  —  — 
Illinois  31.2%  68.9%  2.21 
Indiana  36.7%  69.9%  1.90 
Iowa  23.0%  —  — 
Kansas  25.9%  —  — 
Kentucky  45.7%  —  — 
Louisiana  36.0%  68.2%  1.89 
Maine  43.7%  —  — 
Maryland  23.9%  53.5%  2.24 
Massachusetts  33.3%  50.6%  1.52 
Michigan  33.2%  65.4%  1.97 
Minnesota  18.5%  —  — 
Mississippi  46.5%  73.1%  1.57 
Missouri  39.3%  64.8%  1.65 
Montana  34.0% * —  — 
Nebraska  25.1% * —  — 
Nevada  42.0%  —  — 
New Hampshire  27.5%  —  — 
New Jersey  33.1%  57.9%  1.75 
New Mexico  34.3%  —  — 
New York  34.0%  70.8%  2.08 
North Carolina  36.6%  73.7%  2.01 
North Dakota  26.7%  —  — 
Ohio  37.6%  71.8%  1.91 
Oklahoma  38.8%  53.9% * 1.39 
Oregon  28.3% * —  — 
Pennsylvania  32.9%  65.9%  2.00 
Rhode Island  25.8% * —  — 
South Carolina  34.6%  71.2%  2.06 
South Dakota  41.4%  —  — 
Tennessee  47.9%  76.2%  1.59 
Texas  36.7%  54.6%  1.49 
Utah  31.8% * —  — 
Vermont  —  —  — 
Virginia  27.5%  52.4%  1.90 
Washington  28.6%  40.6%  1.42 
West Virginia  46.8%  —  — 
Wisconsin  29.3%  63.2%  2.16 
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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