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

Oklahoma

Reports & Graphics

CONNECT TO
STAKEHOLDERS
IN OKLAHOMA

 

Lead State Organization

Oklahoma Policy Institute

 

Lead Local Organization

Oklahoma Native Assets Coalition
Oklahoma Tribal

 

Click here to learn how to join the Network.

 

WHAT OKLAHOMA CAN DO

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

Increase Incomes and Assets: To reduce income poverty and increase net worth, Oklahoma should help its low-income population maximize their incomes and build assets by increasing the Earned Income Tax Credit and funding a state Individual Development Account program.

Improve Educational Outcomes: To improve its secondary and post-secondary educational outcomes, Oklahoma should increase funding to schools, especially in high-poverty districts, and match savings for college in 529 accounts.

Ensure Access to Safe Financial Products: To protect unbanked and underbanked households and improve credit scores, Oklahoma should ensure residents have access to fair and appropriate financial products by prohibiting or capping payday loans and short-term installment loans at 36% APR.

Overall Rank: 32

Outcome Rankings

Issue Area Rank: 39 | Grade: D

Outcome Measure State Data US Data Rank
Income Poverty Rate 16.2% 14.6% 39
Asset Poverty Rate 23.4% 26.0%
Asset Poverty by Race 1.2 x higher
for HHs
of color
2.1 x higher
for HHs
of color
Asset Poverty by Gender 1.3 x higher
for single women
1.1 x higher
for single women
Asset Poverty by Family Structure 2.2 x higher
for 1-parent HHs
Liquid Asset Poverty Rate 43.8% 43.9% 23
Liquid Asset Poverty by Race 1.4 x higher
for HHs
of color
1.8 x higher
for HHs
of color
Liquid Asset Poverty by Gender 1.21 x higher
for single men
1.09 x higher
for single women
Liquid Asset Poverty by Family Structure 1.9 x higher
for 1-parent HHs
Extreme Asset Poverty Rate 16.3% 17.5%
Net Worth $50,843 $68,948
Net Worth by Race 3 x higher
for white HHs
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 10.9% 8.2% 42
Underbanked Households 23.2% 20.1% 43
Households with Savings Accounts 60.0% 69.2% 45
Consumers with Subprime Credit 62.9% 56.4% 44
Borrowers 90+ Days Overdue 4.82% 4.33% 42
Average Credit Card Debt $6,495 $10,736 4
Bankruptcy Rate (per 1,000 people) 3.4 4.4 20
   
Additional Policies
Income Tax Threshold — $24,200
Tax Burden by Income — The poorest 20% of families pay 2.2 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 permitted

Footnotes

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

Outcome Rankings

Issue Area Rank: 18 | Grade: B

Outcome Measure State Data US Data Rank
Microenterprise Ownership Rate 17.2% 16.7% 14
Small Business Ownership Rate 1.48% 1.34% 17
Business Ownership by Race 1.8 x higher
for white workers
1.5 x higher
for white workers
30
Business Ownership by Gender 1.2 x higher
for men
1.3 x higher
for men
15
Business Value by Race 2.3 x higher
for white bus. owners
2.6 x higher
for white bus. owners
17
Business Value by Gender 2.3 x higher
for men
2.6 x higher
for men
8
Business Creation Rate (per 1,000 workers) 8.9 9.2 29
Private Loans to Small Business $1,058 $1,148 36
Unemployment Rate 6.2% 8.9% 8
Unemployment by Race 2.1 x higher
for people
of color
1.7 x higher
for people
of color
38
Underemployment Rate 10.7% 15.9% 5
Low-Wage Jobs 32.1% 21.5% 46
Average Annual Pay $44,123 $48,043 34
Retirement Plan Participation 48.7% 44.6% 19
Employers Offering Health Insurance 47.8% 51.0% 32
   

Policy Ratings

Policy Priorities
0 State Support for Microenterprise
0 Job Quality Standards
Additional Policies
Unemployment Benefit Level — 35.3% of average weekly wage
Unemployment Benefit Eligibility — Uses alternative base period; Part-time workers covered; Benefits for compelling family reasons
Incentives for Employee Ownership — No state policy
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: 15 | Grade: B

Outcome Measure State Data US Data Rank
Homeownership Rate 67.0% 64.6% 29
Homeownership by Race 1.3 x higher
for white HHs
1.6 x higher
for white HHs
5
Homeownership by Income 2.2 x higher
for top 20%
2.2 x higher
for top 20%
25
Homeownership by Gender 1.02 x higher
for single women
1.01 x higher
for single women
Homeownership by Family Structure 1.8 x higher
for 2-parent HHs
1.9 x higher
for 2-parent HHs
22
Foreclosure Rate 3.42% 4.27% 32
Delinquent Mortgage Loans 2.28% 3.04% 19
High-Cost Mortgage Loans 5.47% 2.47% 49
Affordability of Homes (value/income) 2.6 x higher than median income 3.4 x higher than median income 7
Housing Cost Burden - Homeowners 28.3% 36.9% 11
Housing Cost Burden - Renters 48.3% 53.4% 9
   
Additional Policies
Housing Trust Funds — Has statewide housing trust fund
Preservation of Affordable Rental Housing — 30.5% of LIHTC for preservation
Tenant Protections from Foreclosure — No 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 — 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: 43 | Grade: D

Outcome Measure State Data US Data Rank
Uninsured Rate 21.5% 17.3% 45
Uninsured by Race 1.8 x higher
for people
of color
2 x higher
for people
of color
22
Uninsured by Income 3.2 x higher
for poorest 20%
3.5 x higher
for poorest 20%
18
Uninsured by Gender 1.1 x higher
for men
1.2 x higher
for men
10
Uninsured Low-Income Children 13.2% 10.7% 42
Uninsured Low-Income Parents 40.7% 34.5% 45
Employer-Provided Insurance Coverage 52.8% 57.4% 43
Employee Share of Premium 32.0% 26.4% 47
Out-of-Pocket Medical Expenses 18.5% 16.2%
   

Policy Ratings

Policy Priorities
0.5 Access to Health Insurance
Additional Policies
Expanded COBRA Coverage — COBRA expansion for 6 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: 35 | Grade: C

Outcome Measure State Data US Data Rank
Early Childhood Education Enrollment 51.6% 28.2% 2
Math Proficiency - 8th Grade 27.3% 34.7% 43
Reading Proficiency - 8th Grade 26.7% 33.5% 40
High School Degree 86.3% 85.9% 33
Two-Year College Degree 30.8% 36.3% 43
Four-Year College Degree 23.8% 28.5% 42
Four-Year Degree by Race 1.5 x higher
for white adults
1.6 x higher
for white adults
22
Four-Year Degree by Income 4.7 x higher
for top 20%
4.6 x higher
for top 20%
30
Four-Year Degree by Gender 1.01 x higher
for women
1.01 x higher
for men
Average College Graduate Debt $20,897 $26,600 8
College Graduates with Debt 53% 66% 10
Student Loan Default Rate 17.3% 13.4% 49
   
Additional Policies
State-Funded Head Start — $2,191,700 in supplemental funds
Quality of State Pre-K Programs — Established state program; $7,690 per child enrolled; 9 of 10 quality standards met
Kindergarten Standards — Full Day Kindergarten; separate standards; certificates or training required for teachers
State Financial Aid for Postsecondary Education — $537 per student; 88% need-based
TANF-Funded Workforce Training — 0% of funds spent on training
WIA-Funded Workforce Training — 2.3% 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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