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

Ohio

Reports & Graphics

CONNECT TO
STAKEHOLDERS
IN OHIO

 

Lead State Organization

Ohio CASH Coalition

 

Lead Local Organization

Ohio CASH Coalition – Cleveland
Cleveland

 

Supports to Encourage Low-Income Families (SELF)
Hamilton

 

Click here to learn how to join the Network.

WHAT OHIO CAN DO

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

Promote Financial Security: To reduce income poverty, the high percentage of borrowers who are past due on debt payments and bankruptcy rates, Ohio should maximize earnings of low-income workers by adopting a refundable state Earned Income Tax Credit and making the Dependent Care Credit refundable. Ohio should also increasingly fund free tax preparation for low- and moderate-income households and seniors.

Protect Consumers: To protect unbanked households from predatory financial products, Ohio should enact stronger consumer protection laws and close loopholes regulating payday lenders.

Preserve Homeownership and Stabilize Communities: To increase homeownership and reduce the foreclosure rate, Ohio should regulate mortgage servicers and allow local land banking to ensure strong management and redevelopment of foreclosed properties.

Promote Savings Opportunities: To help families save and build assets, Ohio should create college and emergency savings accounts that are accessible, safe and easy to enroll in.

Overall Rank: 36

Outcome Rankings

Issue Area Rank: 34 | Grade: C
Outcome Measure State Data US Data Rank
Income Poverty Rate 15.4% 14.6% 34
Asset Poverty Rate 26.3% 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 1.2 x higher
for single women		 1.1 x higher
for single women		 —
Asset Poverty by Family Structure 2.1 x higher
for 1-parent HHs		 2.2 x higher
for 1-parent HHs		 —
Liquid Asset Poverty Rate 43.2% 43.9% 21
Liquid Asset Poverty by Race 1.9 x higher
for HHs
of color		 1.8 x higher
for HHs
of color		 —
Liquid Asset Poverty by Gender 1.2 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 19.1% 17.5% —
Net Worth $63,002 $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 2.1 x higher
for single men		 1.18 x higher
for single men		 —
Net Worth by Family Structure — 22 x higher
for 2-parent HHs		 —
Unbanked Households 8.8% 8.2% 34
Underbanked Households 19.3% 20.1% 24
Households with Savings Accounts 68.1% 69.2% 33
Consumers with Subprime Credit 55.4% 56.4% 28
Borrowers 90+ Days Overdue 4.55% 4.33% 37
Average Credit Card Debt $9,982 $10,736 27
Bankruptcy Rate (per 1,000 people) 5.0 4.4 39
   

Policy Ratings
Policy Priorities
0.25 Tax Credits for Working Families
0.25 State IDA Program Support
1 Lifting Asset Limits in Public Benefit Programs
0.75 Protections from Predatory Short-Term Loans
Additional Policies
Income Tax Threshold — $15,000
Tax Burden by Income — The poorest 20% of families pay 1.8 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 permitted

Footnotes

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

Outcome Rankings

Issue Area Rank: 35 | Grade: C
Outcome Measure State Data US Data Rank
Microenterprise Ownership Rate 14.2% 16.7% 45
Small Business Ownership Rate 1.31% 1.34% 43
Business Ownership by Race 1.5 x higher
for white workers		 1.5 x higher
for white workers		 13
Business Ownership by Gender 1.4 x higher
for men		 1.3 x higher
for men		 41
Business Value by Race 2.6 x higher
for white bus. owners		 2.6 x higher
for white bus. owners		 27
Business Value by Gender 2.9 x higher
for men		 2.6 x higher
for men		 38
Business Creation Rate (per 1,000 workers) 6.6 9.2 47
Private Loans to Small Business $1,358 $1,148 10
Unemployment Rate 8.7% 8.9% 30
Unemployment by Race 1.9 x higher
for people
of color		 1.7 x higher
for people
of color		 29
Underemployment Rate 14.7% 15.9% 25
Low-Wage Jobs 23.8% 21.5% 28
Average Annual Pay $47,274 $48,043 19
Retirement Plan Participation 47.6% 44.6% 27
Employers Offering Health Insurance 56.6% 51.0% 8
   

Policy Ratings
Policy Priorities
0.5 State Support for Microenterprise
0.25 Job Quality Standards
Additional Policies
Unemployment Benefit Level — 36.3% of average weekly wage
Unemployment Benefit Eligibility — Uses alternative base period; Part-time workers not covered; No 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: 39 | Grade: D
Outcome Measure State Data US Data Rank
Homeownership Rate 67.0% 64.6% 30
Homeownership by Race 1.8 x higher
for white HHs		 1.6 x higher
for white HHs		 43
Homeownership by Income 2.6 x higher
for top 20%		 2.2 x higher
for top 20%		 45
Homeownership by Gender 1.01 x higher
for single men		 1.01 x higher
for single women		 —
Homeownership by Family Structure 2.1 x higher
for 2-parent HHs		 1.9 x higher
for 2-parent HHs		 43
Foreclosure Rate 4.87% 4.27% 43
Delinquent Mortgage Loans 3.18% 3.04% 36
High-Cost Mortgage Loans 2.19% 2.47% 26
Affordability of Homes (value/income) 2.8 x higher than median income 3.4 x higher than median income 13
Housing Cost Burden - Homeowners 30.9% 36.9% 14
Housing Cost Burden - Renters 51.7% 53.4% 25
   

Policy Ratings
Policy Priorities
0.75 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 — 52.9% of LIHTC for preservation
Tenant Protections from Foreclosure — No protections beyond federal law
Property Tax Relief — None
Resident Ownership of Manufactured Housing Communities — No protections for homeowners

Footnotes

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

Outcome Rankings

Issue Area Rank: 12 | Grade: B
Outcome Measure State Data US Data Rank
Uninsured Rate 13.8% 17.3% 19
Uninsured by Race 1.5 x higher
for people
of color		 2 x higher
for people
of color		 8
Uninsured by Income 4.1 x higher
for poorest 20%		 3.5 x higher
for poorest 20%		 37
Uninsured by Gender 1.2 x higher
for men		 1.2 x higher
for men		 32
Uninsured Low-Income Children 9.0% 10.7% 24
Uninsured Low-Income Parents 22.8% 34.5% 12
Employer-Provided Insurance Coverage 62.9% 57.4% 17
Employee Share of Premium 23.0% 26.4% 6
Out-of-Pocket Medical Expenses 14.9% 16.2% —
   

Policy Ratings
Policy Priorities
0.5 Access to Health Insurance
Additional Policies
Expanded COBRA Coverage — COBRA expansion for 12 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: 40 | Grade: D
Outcome Measure State Data US Data Rank
Early Childhood Education Enrollment 16.1% 28.2% 39
Math Proficiency - 8th Grade 38.9% 34.7% 16
Reading Proficiency - 8th Grade 36.9% 33.5% 14
High School Degree 88.3% 85.9% 25
Two-Year College Degree 32.4% 36.3% 41
Four-Year College Degree 24.7% 28.5% 40
Four-Year Degree by Race 1.3 x higher
for white adults		 1.6 x higher
for white adults		 6
Four-Year Degree by Income 5.6 x higher
for top 20%		 4.6 x higher
for top 20%		 42
Four-Year Degree by Gender 1.05 x higher
for men		 1.01 x higher
for men		 —
Average College Graduate Debt $28,683 $26,600 42
College Graduates with Debt 68% 66% 40
Student Loan Default Rate 13.2% 13.4% 35
   

Policy Ratings
Policy Priorities
0.5 Access to Quality K-12 Education
0.25 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; $3,942 per child enrolled; 2 of 10 quality standards met
Kindergarten Standards — Half Day Kindergarten; separate standards; certificates or training required for teachers
State Financial Aid for Postsecondary Education — $203 per student; 67% need-based
TANF-Funded Workforce Training — 0.41% of funds spent on training
WIA-Funded Workforce Training — 63.8% 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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