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

North Carolina

Reports & Graphics

CONNECT TO
STAKEHOLDERS
IN NORTH CAROLINA

 

Lead State Organization

North Carolina Assets Alliance

 

Lead Local Organization

Crisis Assistance Ministry
Charlotte

 

Click here to learn how to join the Network.

WHAT NORTH CAROLINA CAN DO

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

Strengthen Financial Security: To address pervasive income and asset poverty, North Carolina should expand the state Earned Income Tax Credit to 15% of the federal credit and support innovative savings programs, such as a match for college savings 529 accounts.

Promote Job Security: To address high unemployment, the state should maintain current unemployment insurance benefit levels and eligibility, create a job sharing program and extend the wage subsidy program.  The state should also help residents create their own jobs through microenterprise development and increase business ownership among women and people of color.

Broaden Access to Health Care: To reduce the financial risk for uninsured residents, North Carolina should participate in the federal Medicaid expansion and enact its own Health Care Exchange under the Affordable Care Act.

Stabilize Affordable and Accessible Housing: To address a persistent shortage of affordable housing, North Carolina should expand its successful housing program for people with disabilities and invest $50 million annually in its Housing Trust Fund.

Overall Rank: 45

Outcome Rankings

Issue Area Rank: 37 | Grade: D
Outcome Measure State Data US Data Rank
Income Poverty Rate 16.2% 14.6% 41
Asset Poverty Rate 26.8% 26.0% —
Asset Poverty by Race 2.6 x higher
for HHs
of color		 2.1 x higher
for HHs
of color		 —
Asset Poverty by Gender 1.01 x higher
for single men		 1.1 x higher
for single women		 —
Asset Poverty by Family Structure 2.7 x higher
for 1-parent HHs		 2.2 x higher
for 1-parent HHs		 —
Liquid Asset Poverty Rate 49.9% 43.9% 33
Liquid Asset Poverty by Race 2 x higher
for HHs
of color		 1.8 x higher
for HHs
of color		 —
Liquid Asset Poverty by Gender 1.01 x higher
for single women		 1.09 x higher
for single women		 —
Liquid Asset Poverty by Family Structure 1.9 x higher
for 1-parent HHs		 1.9 x higher
for 1-parent HHs		 —
Extreme Asset Poverty Rate 16.6% 17.5% —
Net Worth $61,842 $68,948 —
Net Worth by Race — 10.3 x higher
for white HHs		 —
Net Worth by Income — 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 9.3% 8.2% 35
Underbanked Households 21.7% 20.1% 39
Households with Savings Accounts 66.4% 69.2% 38
Consumers with Subprime Credit 58.0% 56.4% 36
Borrowers 90+ Days Overdue 4.20% 4.33% 30
Average Credit Card Debt $10,697 $10,736 32
Bankruptcy Rate (per 1,000 people) 2.3 4.4 9
   

Policy Ratings
Policy Priorities
0.75 Tax Credits for Working Families
0.5 State IDA Program Support
0.5 Lifting Asset Limits in Public Benefit Programs
0.75 Protections from Predatory Short-Term Loans
Additional Policies
Income Tax Threshold — $19,100
Tax Burden by Income — The poorest 20% of families pay 1.5 times more of their income in taxes than the top 1% of families
Prize-Linked Savings — Legislation passed to allow prize-linked savings; program implemented
Paperless Payday — Paperless payday permitted

Footnotes

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

Outcome Rankings

Issue Area Rank: 49 | Grade: F
Outcome Measure State Data US Data Rank
Microenterprise Ownership Rate 16.1% 16.7% 24
Small Business Ownership Rate 1.32% 1.34% 41
Business Ownership by Race 2.1 x higher
for white workers		 1.5 x higher
for white workers		 42
Business Ownership by Gender 1.4 x higher
for men		 1.3 x higher
for men		 36
Business Value by Race 3.5 x higher
for white bus. owners		 2.6 x higher
for white bus. owners		 44
Business Value by Gender 2.7 x higher
for men		 2.6 x higher
for men		 29
Business Creation Rate (per 1,000 workers) 9.3 9.2 25
Private Loans to Small Business $1,232 $1,148 19
Unemployment Rate 10.5% 8.9% 46
Unemployment by Race 1.9 x higher
for people
of color		 1.7 x higher
for people
of color		 30
Underemployment Rate 17.9% 15.9% 45
Low-Wage Jobs 25.4% 21.5% 35
Average Annual Pay $45,389 $48,043 27
Retirement Plan Participation 43.3% 44.6% 40
Employers Offering Health Insurance 48.1% 51.0% 31
   

Policy Ratings
Policy Priorities
0.5 State Support for Microenterprise
0 Job Quality Standards
Additional Policies
Unemployment Benefit Level — 36.6% 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; Not all criteria met
Loans for Beginning Farmers — Has Aggie Bond Program

Footnotes

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

Outcome Rankings

Issue Area Rank: 34 | Grade: C
Outcome Measure State Data US Data Rank
Homeownership Rate 66.5% 64.6% 34
Homeownership by Race 1.5 x higher
for white HHs		 1.6 x higher
for white HHs		 29
Homeownership by Income 2.1 x higher
for top 20%		 2.2 x higher
for top 20%		 15
Homeownership by Gender 1.02 x higher
for single men		 1.01 x higher
for single women		 —
Homeownership by Family Structure 2 x higher
for 2-parent HHs		 1.9 x higher
for 2-parent HHs		 41
Foreclosure Rate 3.00% 4.27% 25
Delinquent Mortgage Loans 2.80% 3.04% 28
High-Cost Mortgage Loans 2.86% 2.47% 40
Affordability of Homes (value/income) 3.5 x higher than median income 3.4 x higher than median income 29
Housing Cost Burden - Homeowners 33.9% 36.9% 24
Housing Cost Burden - Renters 53.1% 53.4% 34
   

Policy Ratings
Policy Priorities
0.5 Foreclosure Prevention and Protections
0.5 First-Time Homebuyer Assistance
Additional Policies
Housing Trust Funds — Has statewide housing trust fund
Preservation of Affordable Rental Housing — 15.1% of LIHTC for preservation
Tenant Protections from Foreclosure — Has protections beyond federal law
Property Tax Relief — Circuit breaker for homeowners who are elderly or disabled; No tax deferment
Resident Ownership of Manufactured Housing Communities — Medium strength protections; Tax incentive to sell to homeowners; No closure notice or opportunity to purchase

Footnotes

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

Outcome Rankings

Issue Area Rank: 47 | Grade: F
Outcome Measure State Data US Data Rank
Uninsured Rate 18.7% 17.3% 36
Uninsured by Race 1.9 x higher
for people
of color		 2 x higher
for people
of color		 27
Uninsured by Income 4.2 x higher
for poorest 20%		 3.5 x higher
for poorest 20%		 38
Uninsured by Gender 1.1 x higher
for men		 1.2 x higher
for men		 18
Uninsured Low-Income Children 10.4% 10.7% 35
Uninsured Low-Income Parents 38.1% 34.5% 40
Employer-Provided Insurance Coverage 53.3% 57.4% 40
Employee Share of Premium 32.0% 26.4% 47
Out-of-Pocket Medical Expenses 13.3% 16.2% —
   

Policy Ratings
Policy Priorities
0.25 Access to Health Insurance
Additional Policies
Expanded COBRA Coverage — COBRA expansion for 18 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: 22 | Grade: C
Outcome Measure State Data US Data Rank
Early Childhood Education Enrollment 21.9% 28.2% 28
Math Proficiency - 8th Grade 37.0% 34.7% 21
Reading Proficiency - 8th Grade 31.1% 33.5% 33
High School Degree 84.7% 85.9% 38
Two-Year College Degree 35.6% 36.3% 28
Four-Year College Degree 26.9% 28.5% 26
Four-Year Degree by Race 1.8 x higher
for white adults		 1.6 x higher
for white adults		 34
Four-Year Degree by Income 5.7 x higher
for top 20%		 4.6 x higher
for top 20%		 45
Four-Year Degree by Gender 1.03 x higher
for women		 1.01 x higher
for men		 —
Average College Graduate Debt $20,800 $26,600 7
College Graduates with Debt 54% 66% 12
Student Loan Default Rate 9.0% 13.4% 9
   

Policy Ratings
Policy Priorities
0.25 Access to Quality K-12 Education
0.75 Financial Education in Schools
0 College Savings Incentives
Additional Policies
State-Funded Head Start — No state supplement
Quality of State Pre-K Programs — Established state program; $7,910 per child enrolled; 10 of 10 quality standards met
Kindergarten Standards — Full Day Kindergarten; separate standards; no certificates or training required for teachers
State Financial Aid for Postsecondary Education — $934 per student; 82% need-based
TANF-Funded Workforce Training — 0.26% of funds spent on training
WIA-Funded Workforce Training — 85.8% of participants received training

Footnotes

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

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