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

Texas

Reports & Graphics

CONNECT TO
STAKEHOLDERS
IN TEXAS

 

Lead State Organization

RAISE Texas

 

Lead Local Organizations

Coastal Bend CA$H Coalition
Corpus Christi

United Way of Greater Houston
Houston

YWCA of Metropolitan Dallas
Dallas

 

Click here to learn how to join the Network.

WHAT TEXAS CAN DO

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

Curb Excessive Payday & Auto-Title Lending: To improve financial stability, reduce asset-stripping and enhance borrower success, Texas should enact “ability to repay on-time” legislation to limit fees, decrease rollovers and reduce auto repossessions.

Increase Household Savings: To increase financial access to mainstream financial products, promote financial success and reduce asset poverty, Texas should remove state asset limits, particularly for SNAP and TANF, and promote household savings through strategic investments in proven financial education, credit-building and college savings initiatives.

Expand Affordable Access to Public and Private Health Coverage: To address the highest uninsured rate in the country and to improve affordability and continuity of coverage, Texas should opt to cover more than one million uninsured US citizen adults in Medicaid beginning in 2014; continue to modernize and streamline Medicaid-CHIP enrollment and renewal procedures; and stop unreasonable rate increases and ensure that Texas’ health insurance exchange is user-friendly and family-centered.

Overall Rank: 39

Outcome Rankings

Issue Area Rank: 40 | Grade: D
Outcome Measure State Data US Data Rank
Income Poverty Rate 16.2% 14.6% 40
Asset Poverty Rate 25.9% 26.0% —
Asset Poverty by Race 2 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 49.5% 43.9% 32
Liquid Asset Poverty by Race 1.5 x higher
for HHs
of color		 1.8 x higher
for HHs
of color		 —
Liquid Asset Poverty by Gender 1.07 x higher
for single women		 1.09 x higher
for single women		 —
Liquid Asset Poverty by Family Structure 1.5 x higher
for 1-parent HHs		 1.9 x higher
for 1-parent HHs		 —
Extreme Asset Poverty Rate 16.1% 17.5% —
Net Worth $44,612 $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 1.3 x higher
for single men		 1.18 x higher
for single men		 —
Net Worth by Family Structure 6 x higher
for 2-parent HHs		 22 x higher
for 2-parent HHs		 —
Unbanked Households 12.8% 8.2% 50
Underbanked Households 27.2% 20.1% 47
Households with Savings Accounts 62.8% 69.2% 42
Consumers with Subprime Credit 65.3% 56.4% 49
Borrowers 90+ Days Overdue 4.49% 4.33% 36
Average Credit Card Debt $6,668 $10,736 6
Bankruptcy Rate (per 1,000 people) 1.9 4.4 6
   

Policy Ratings
Policy Priorities
0 Tax Credits for Working Families
0 State IDA Program Support
0.5 Lifting Asset Limits in Public Benefit Programs
0 Protections from Predatory Short-Term Loans
Additional Policies
Income Tax Threshold — No state income tax
Tax Burden by Income — The poorest 20% of families pay 3.9 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: 34 | Grade: C
Outcome Measure State Data US Data Rank
Microenterprise Ownership Rate 17.6% 16.7% 12
Small Business Ownership Rate 1.23% 1.34% 47
Business Ownership by Race 1.7 x higher
for white workers		 1.5 x higher
for white workers		 25
Business Ownership by Gender 1.2 x higher
for men		 1.3 x higher
for men		 12
Business Value by Race 3.3 x higher
for white bus. owners		 2.6 x higher
for white bus. owners		 41
Business Value by Gender 2.5 x higher
for men		 2.6 x higher
for men		 18
Business Creation Rate (per 1,000 workers) 6.8 9.2 46
Private Loans to Small Business $983 $1,148 40
Unemployment Rate 7.8% 8.9% 20
Unemployment by Race 1.7 x higher
for people
of color		 1.7 x higher
for people
of color		 17
Underemployment Rate 14.0% 15.9% 19
Low-Wage Jobs 28.6% 21.5% 42
Average Annual Pay $49,933 $48,043 7
Retirement Plan Participation 39.6% 44.6% 46
Employers Offering Health Insurance 47.1% 51.0% 36
   

Policy Ratings
Policy Priorities
0.5 State Support for Microenterprise
0 Job Quality Standards
Additional Policies
Unemployment Benefit Level — 34.3% of average weekly wage
Unemployment Benefit Eligibility — Some benefits for compelling family reasons; No alternative base period; Part-time workers not covered
Incentives for Employee Ownership — WIA-funded feasibility studies; Not all criteria met
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: 13 | Grade: B
Outcome Measure State Data US Data Rank
Homeownership Rate 62.9% 64.6% 42
Homeownership by Race 1.3 x higher
for white HHs		 1.6 x higher
for white HHs		 4
Homeownership by Income 2.2 x higher
for top 20%		 2.2 x higher
for top 20%		 20
Homeownership by Gender 1.05 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		 15
Foreclosure Rate 1.89% 4.27% 8
Delinquent Mortgage Loans 2.42% 3.04% 21
High-Cost Mortgage Loans 5.24% 2.47% 47
Affordability of Homes (value/income) 2.6 x higher than median income 3.4 x higher than median income 6
Housing Cost Burden - Homeowners 31.6% 36.9% 16
Housing Cost Burden - Renters 49.9% 53.4% 14
   

Policy Ratings
Policy Priorities
0.5 Foreclosure Prevention and Protections
0.75 First-Time Homebuyer Assistance
Additional Policies
Housing Trust Funds — Has statewide housing trust fund
Preservation of Affordable Rental Housing — 40.0% 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: 49 | Grade: F
Outcome Measure State Data US Data Rank
Uninsured Rate 25.4% 17.3% 51
Uninsured by Race 2.1 x higher
for people
of color		 2 x higher
for people
of color		 34
Uninsured by Income 3.3 x higher
for poorest 20%		 3.5 x higher
for poorest 20%		 20
Uninsured by Gender 1.1 x higher
for men		 1.2 x higher
for men		 4
Uninsured Low-Income Children 16.7% 10.7% 47
Uninsured Low-Income Parents 54.0% 34.5% 51
Employer-Provided Insurance Coverage 50.6% 57.4% 46
Employee Share of Premium 29.0% 26.4% 34
Out-of-Pocket Medical Expenses 15.5% 16.2% —
   

Policy Ratings
Policy Priorities
0 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: 38 | Grade: D
Outcome Measure State Data US Data Rank
Early Childhood Education Enrollment 38.7% 28.2% 7
Math Proficiency - 8th Grade 40.0% 34.7% 14
Reading Proficiency - 8th Grade 26.5% 33.5% 42
High School Degree 81.1% 85.9% 51
Two-Year College Degree 33.0% 36.3% 39
Four-Year College Degree 26.4% 28.5% 29
Four-Year Degree by Race 2.1 x higher
for white adults		 1.6 x higher
for white adults		 47
Four-Year Degree by Income 5.3 x higher
for top 20%		 4.6 x higher
for top 20%		 37
Four-Year Degree by Gender 1.04 x higher
for men		 1.01 x higher
for men		 —
Average College Graduate Debt $22,140 $26,600 9
College Graduates with Debt 56% 66% 18
Student Loan Default Rate 16.1% 13.4% 45
   

Policy Ratings
Policy Priorities
0 Access to Quality K-12 Education
0.75 Financial Education in Schools
0.25 College Savings Incentives
Additional Policies
State-Funded Head Start — No state supplement
Quality of State Pre-K Programs — Established state program; $3,761 per child enrolled; 4 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 — $687 per student; 99% need-based
TANF-Funded Workforce Training — 1.37% of funds spent on training
WIA-Funded Workforce Training — 39.3% 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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