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

Pennsylvania

Reports & Graphics

CONNECT TO
STAKEHOLDERS
IN PENNSYLVANIA

 

Lead State Organization

This state doesn’t have a Lead State Organization.

 

Lead Local Organization

Delaware County Asset Development Group
Delaware County

 

Women's Opportunities Resource Center
Philadelphia

 

Montogomery County Asset Building Coalition
Montgomery County

 

Click here to learn how to join the Network.

WHAT PENNSYLVANIA CAN DO

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

Encourage Asset Building: To reduce asset poverty and increase savings, Pennsylvania should ensure families have enough income to save by investing in a state earned income tax credit, free tax preparation and the promotion of federal tax credits; remove the disincentive to save by eliminating asset limits for food assistance programs; and help families build assets by promoting the state’s 529 plan and funding the Family Savings Account program.

Invest in Entrepreneurs: To increase microenterprise and small business ownership, especially among women, Pennsylvania should access and utilize all available federal funding for microenterprise development, including self-employment assistance programs, block grants and the Workforce Investment Act.

Protect Homeowners: To reduce the number of high-cost mortgage loans, delinquent mortgages and foreclosures, Pennsylvania should increase regulation of mortgage servicers and promote mortgage assistance programs, including the Homeowners' Emergency Mortgage Assistance Program.

Overall Rank: 15

Outcome Rankings

Issue Area Rank: 19 | Grade: B

Outcome Measure State Data US Data Rank
Income Poverty Rate 13.0% 14.6% 21
Asset Poverty Rate 19.6% 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 1.1 x higher
for single women
1.1 x higher
for single women
Asset Poverty by Family Structure 3.7 x higher
for 1-parent HHs
2.2 x higher
for 1-parent HHs
Liquid Asset Poverty Rate 37.4% 43.9% 17
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 1.1 x higher
for single women
1.09 x higher
for single women
Liquid Asset Poverty by Family Structure 3.2 x higher
for 1-parent HHs
1.9 x higher
for 1-parent HHs
Extreme Asset Poverty Rate 13.8% 17.5%
Net Worth $93,000 $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 1.2 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 6.1% 8.2% 22
Underbanked Households 18.0% 20.1% 16
Households with Savings Accounts 68.6% 69.2% 29
Consumers with Subprime Credit 50.7% 56.4% 14
Borrowers 90+ Days Overdue 3.56% 4.33% 17
Average Credit Card Debt $10,775 $10,736 33
Bankruptcy Rate (per 1,000 people) 2.5 4.4 15
   
Additional Policies
Income Tax Threshold — $25,500
Tax Burden by Income — The poorest 20% of families pay 2.7 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: 22 | Grade: C

Outcome Measure State Data US Data Rank
Microenterprise Ownership Rate 14.0% 16.7% 48
Small Business Ownership Rate 1.41% 1.34% 28
Business Ownership by Race 1.3 x higher
for white workers
1.5 x higher
for white workers
6
Business Ownership by Gender 1.5 x higher
for men
1.3 x higher
for men
49
Business Value by Race 2.5 x higher
for white bus. owners
2.6 x higher
for white bus. owners
23
Business Value by Gender 2.8 x higher
for men
2.6 x higher
for men
31
Business Creation Rate (per 1,000 workers) 8.6 9.2 33
Private Loans to Small Business $1,237 $1,148 18
Unemployment Rate 7.8% 8.9% 20
Unemployment by Race 2 x higher
for people
of color
1.7 x higher
for people
of color
31
Underemployment Rate 13.9% 15.9% 18
Low-Wage Jobs 19.3% 21.5% 19
Average Annual Pay $47,655 $48,043 16
Retirement Plan Participation 48.6% 44.6% 20
Employers Offering Health Insurance 61.1% 51.0% 4
   

Policy Ratings

Policy Priorities
0 State Support for Microenterprise
0 Job Quality Standards
Additional Policies
Unemployment Benefit Level — 38.1% of average weekly wage
Unemployment Benefit Eligibility — Part-time workers covered; Some benefits for compelling family reasons; No alternative base period
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: 24 | Grade: C

Outcome Measure State Data US Data Rank
Homeownership Rate 69.5% 64.6% 13
Homeownership by Race 1.6 x higher
for white HHs
1.6 x higher
for white HHs
37
Homeownership by Income 2.2 x higher
for top 20%
2.2 x higher
for top 20%
27
Homeownership by Gender 1.03 x higher
for single men
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
26
Foreclosure Rate 3.85% 4.27% 35
Delinquent Mortgage Loans 2.66% 3.04% 25
High-Cost Mortgage Loans 2.23% 2.47% 28
Affordability of Homes (value/income) 3.3 x higher than median income 3.4 x higher than median income 22
Housing Cost Burden - Homeowners 33.3% 36.9% 20
Housing Cost Burden - Renters 51.4% 53.4% 22
   
Additional Policies
Housing Trust Funds — Has statewide housing trust fund
Preservation of Affordable Rental Housing — 30.0% of LIHTC for preservation
Tenant Protections from Foreclosure — No protections beyond federal law
Property Tax Relief — Circuit breaker for homeowners and renters 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: 8 | Grade: A

Outcome Measure State Data US Data Rank
Uninsured Rate 11.8% 17.3% 12
Uninsured by Race 1.7 x higher
for people
of color
2 x higher
for people
of color
18
Uninsured by Income 3.1 x higher
for poorest 20%
3.5 x higher
for poorest 20%
12
Uninsured by Gender 1.2 x higher
for men
1.2 x higher
for men
35
Uninsured Low-Income Children 8.5% 10.7% 22
Uninsured Low-Income Parents 25.3% 34.5% 16
Employer-Provided Insurance Coverage 64.5% 57.4% 13
Employee Share of Premium 24.6% 26.4% 14
Out-of-Pocket Medical Expenses 14.9% 16.2%
   

Policy Ratings

Policy Priorities
0.25 Access to Health Insurance
Additional Policies
Expanded COBRA Coverage — COBRA expansion for 9 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: 26 | Grade: C

Outcome Measure State Data US Data Rank
Early Childhood Education Enrollment 24.4% 28.2% 24
Math Proficiency - 8th Grade 38.9% 34.7% 17
Reading Proficiency - 8th Grade 38.0% 33.5% 11
High School Degree 88.6% 85.9% 23
Two-Year College Degree 34.5% 36.3% 32
Four-Year College Degree 27.0% 28.5% 25
Four-Year Degree by Race 1.5 x higher
for white adults
1.6 x higher
for white adults
18
Four-Year Degree by Income 5.4 x higher
for top 20%
4.6 x higher
for top 20%
39
Four-Year Degree by Gender 1.02 x higher
for men
1.01 x higher
for men
Average College Graduate Debt $29,959 $26,600 47
College Graduates with Debt 70% 66% 42
Student Loan Default Rate 10.1% 13.4% 14
   
Additional Policies
State-Funded Head Start — $37,311,687 in supplemental funds
Quality of State Pre-K Programs — Established state program; $5,193 per child enrolled; 5.2 of 10 quality standards met
Kindergarten Standards — No Kindergarten offered; no standards; certificates or training required for teachers
State Financial Aid for Postsecondary Education — $639 per student; 100% need-based
TANF-Funded Workforce Training — 0.91% of funds spent on training
WIA-Funded Workforce Training — 41.9% 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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