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

California

Reports & Graphics

CONNECT TO
STAKEHOLDERS
IN CALIFORNIA

 

Lead State Organization

California Asset Building Coalition

 

Lead Local Organizations

Alameda County Community Asset Network (AC CAN)
Alameda County, CA

 

Sacramento Mutual Housing Association
Sacramento, CA

 

Opportunity Fund
Silicon Valley, CA

 

San Francisco Assets & Opportunity Network
San Francisco, CA

 

Center for Asset Building Opportunities
Los Angeles, CA

 

Click here to learn how to join the Network.

WHAT CALIFORNIA CAN DO

There are many policies that California could enact to improve its climate for asset building and preservation:

Preserve and Expand Homeownership: To remedy the low homeownership rate and high housing cost burden for homeowners, California should provide assistance to first-time homeowners through direct lending programs and homeownership counseling.

Encourage Savings and Protect Consumers: To help families reduce debt, avoid bankruptcy and become more financially secure, California should protect consumers from predatory credit products by prohibiting or capping payday loans, and remove the disincentive to save for very low-income families by lifting asset limits in its cash welfare and Medicaid programs.

Prioritize K-12 Education: To increase math and reading proficiency as well as high school graduation rates, which are among the lowest in the country, California should increase funding for K-12 education, particularly in low-income school districts, and create strong systems for teacher evaluation and retention.

Overall Rank: 38

Outcome Rankings

Issue Area Rank: 33 | Grade: C

Outcome Measure State Data US Data Rank
Income Poverty Rate 14.6% 14.6% 29
Asset Poverty Rate 29.9% 26.0%
Asset Poverty by Race 1.9 x higher
for HHs
of color
2.1 x higher
for HHs
of color
Asset Poverty by Gender 1.2 x higher
for single women
1.1 x higher
for single women
Asset Poverty by Family Structure 1.7 x higher
for 1-parent HHs
2.2 x higher
for 1-parent HHs
Liquid Asset Poverty Rate 44.4% 43.9% 24
Liquid Asset Poverty by Race 1.7 x higher
for HHs
of color
1.8 x higher
for HHs
of color
Liquid Asset Poverty by Gender 1.11 x higher
for single women
1.09 x higher
for single women
Liquid Asset Poverty by Family Structure 1.6 x higher
for 1-parent HHs
1.9 x higher
for 1-parent HHs
Extreme Asset Poverty Rate 19.1% 17.5%
Net Worth $54,432 $68,948
Net Worth by Race 10 x higher
for white HHs
10.3 x higher
for white HHs
Net Worth by Income 147 x higher
for top 20%
68 x higher
for top 20%
Net Worth by Gender 1.18 x higher
for single men
Net Worth by Family Structure 22 x higher
for 2-parent HHs
Unbanked Households 7.8% 8.2% 32
Underbanked Households 18.0% 20.1% 16
Households with Savings Accounts 72.1% 69.2% 24
Consumers with Subprime Credit 56.8% 56.4% 33
Borrowers 90+ Days Overdue 3.92% 4.33% 22
Average Credit Card Debt $13,825 $10,736 48
Bankruptcy Rate (per 1,000 people) 6.2 4.4 45
   
Additional Policies
Income Tax Threshold — $46,900
Tax Burden by Income — The poorest 20% of families pay 1.2 times more of their income in taxes than the top 1% of families
Prize-Linked Savings — Prize-linked savings not allowed
Paperless Payday — Paperless payday not permitted

Footnotes

"—" Not Available. Data or ranks are not available because insufficient or unreliable data exist for the state.

Outcome Rankings

Issue Area Rank: 20 | Grade: B

Outcome Measure State Data US Data Rank
Microenterprise Ownership Rate 17.7% 16.7% 10
Small Business Ownership Rate 1.32% 1.34% 40
Business Ownership by Race 1.8 x higher
for white workers
1.5 x higher
for white workers
33
Business Ownership by Gender 1.1 x higher
for men
1.3 x higher
for men
7
Business Value by Race 2.2 x higher
for white bus. owners
2.6 x higher
for white bus. owners
15
Business Value by Gender 2.2 x higher
for men
2.6 x higher
for men
4
Business Creation Rate (per 1,000 workers) 9.7 9.2 20
Private Loans to Small Business $1,207 $1,148 22
Unemployment Rate 11.6% 8.9% 50
Unemployment by Race 1.4 x higher
for people
of color
1.7 x higher
for people
of color
8
Underemployment Rate 21.1% 15.9% 50
Low-Wage Jobs 17.2% 21.5% 16
Average Annual Pay $49,696 $48,043 8
Retirement Plan Participation 39.0% 44.6% 47
Employers Offering Health Insurance 50.5% 51.0% 23
   

Policy Ratings

Policy Priorities
0.25 State Support for Microenterprise
1 Job Quality Standards
Additional Policies
Unemployment Benefit Level — 27.9% of average weekly wage
Unemployment Benefit Eligibility — Uses alternative base period; Part-time workers covered; Benefits for compelling family reasons
Incentives for Employee Ownership — WIA-funded feasibility studies; Direct state assistance
Loans for Beginning Farmers — No state policy

Footnotes

"—" Not Available. Data or ranks are not available because insufficient or unreliable data exist for the state.

Outcome Rankings

Issue Area Rank: 45 | Grade: D

Outcome Measure State Data US Data Rank
Homeownership Rate 54.9% 64.6% 49
Homeownership by Race 1.4 x higher
for white HHs
1.6 x higher
for white HHs
13
Homeownership by Income 2.6 x higher
for top 20%
2.2 x higher
for top 20%
44
Homeownership by Gender 1.09 x higher
for single women
1.01 x higher
for single women
Homeownership by Family Structure 1.9 x higher
for 2-parent HHs
1.9 x higher
for 2-parent HHs
35
Foreclosure Rate 3.07% 4.27% 27
Delinquent Mortgage Loans 3.11% 3.04% 34
High-Cost Mortgage Loans 0.85% 2.47% 4
Affordability of Homes (value/income) 6.2 x higher than median income 3.4 x higher than median income 49
Housing Cost Burden - Homeowners 49.0% 36.9% 50
Housing Cost Burden - Renters 57.7% 53.4% 49
   
Additional Policies
Housing Trust Funds — Has statewide housing trust fund
Preservation of Affordable Rental Housing — 22.9% of LIHTC for preservation
Tenant Protections from Foreclosure — Has protections beyond federal law
Property Tax Relief — Circuit breaker for homeowners and renters who are elderly or disabled; Tax deferment
Resident Ownership of Manufactured Housing Communities — Medium strength protections; 30 days closure notice; No opportunity to purchase or tax incentive

Footnotes

"—" Not Available. Data or ranks are not available because insufficient or unreliable data exist for the state.

Outcome Rankings

Issue Area Rank: 42 | Grade: D

Outcome Measure State Data US Data Rank
Uninsured Rate 20.2% 17.3% 42
Uninsured by Race 2 x higher
for people
of color
2 x higher
for people
of color
31
Uninsured by Income 3.3 x higher
for poorest 20%
3.5 x higher
for poorest 20%
22
Uninsured by Gender 1.2 x higher
for men
1.2 x higher
for men
28
Uninsured Low-Income Children 11.2% 10.7% 37
Uninsured Low-Income Parents 37.6% 34.5% 37
Employer-Provided Insurance Coverage 52.1% 57.4% 44
Employee Share of Premium 25.1% 26.4% 16
Out-of-Pocket Medical Expenses 15.2% 16.2%
   

Policy Ratings

Policy Priorities
0.5 Access to Health Insurance
Additional Policies
Expanded COBRA Coverage — COBRA expansion for 36 months
Healthcare Information Databases — Does not have database

Footnotes

"—" Not Available. Data or ranks are not available because insufficient or unreliable data exist for the state.

Outcome Rankings

Issue Area Rank: 25 | Grade: C

Outcome Measure State Data US Data Rank
Early Childhood Education Enrollment 24.7% 28.2% 22
Math Proficiency - 8th Grade 25.3% 34.7% 44
Reading Proficiency - 8th Grade 23.7% 33.5% 47
High School Degree 81.1% 85.9% 50
Two-Year College Degree 38.0% 36.3% 18
Four-Year College Degree 30.3% 28.5% 15
Four-Year Degree by Race 2 x higher
for white adults
1.6 x higher
for white adults
43
Four-Year Degree by Income 3.6 x higher
for top 20%
4.6 x higher
for top 20%
14
Four-Year Degree by Gender 1.02 x higher
for men
1.01 x higher
for men
Average College Graduate Debt $18,879 $26,600 3
College Graduates with Debt 51% 66% 7
Student Loan Default Rate 11.9% 13.4% 27
   
Additional Policies
State-Funded Head Start — No state supplement
Quality of State Pre-K Programs — Established state program; $5,428 per child enrolled; 3 of 10 quality standards met
Kindergarten Standards — Half Day Kindergarten; no standards; no certificates or training required for teachers
State Financial Aid for Postsecondary Education — $736 per student; 100% need-based
TANF-Funded Workforce Training — 2.54% of funds spent on training
WIA-Funded Workforce Training — 18.9% of participants received training

Footnotes

"—" Not Available. Data or ranks are not available because insufficient or unreliable data exist for the state.

Copyright © 2013 CFED — Corporation for Enterprise Development 1200 G Street, NW Suite 400 Washington, DC 20005 202.408.9788

Powered by ARCOS