CFED Scorecard

CFED Assets & Opportunity Scorecard

Financial Assets & Income
Asset Poverty Rate
Definition

Percentage of households without sufficient net worth to subsist at the poverty level for three months in the absence of income, 2011.

Description

Asset poverty expands the notion of poverty to include how much of a financial cushion a household has to weather a financial crisis such as a job loss, medical emergency or the need to fix a car. Experts have agreed that three months’ of living expenses at the poverty level is a conservative cushion for a family that loses its income.  As the estimation of asset poverty is based on a household’s net worth, it includes durable assets, such as a home or business, that would need to be liquidated in order to help cover day-to-day expenses. Even with this conservative definition, asset poverty exceeds income poverty in all states and the District of Columbia except for South Carolina.

To see the data disaggregated by race and ethnicity, where available, click on the Data by Race tab below.

25.4% of United States households are asset poor
No rankings for this measure

Asset Poverty Rate, 2011

StateAsset Poverty Rate (%)
United States 25.4%
Alabama 24.3%
Alaska
Arizona 32.0%
Arkansas 29.0%
California 29.2%
Colorado 23.9%
Connecticut 30.2%
Delaware 18.9%
District of Columbia
Florida 27.3%
Georgia 32.3%
Hawaii 16.5%
Idaho 29.6%
Illinois 23.5%
Indiana 23.8%
Iowa 21.8%
Kansas 22.9% *
Kentucky 21.4%
Louisiana 23.6%
Maine 20.3%
Maryland 23.0%
Massachusetts 24.2%
Michigan 25.0%
Minnesota 22.0%
Mississippi 30.4%
Missouri 21.6%
Montana 23.0% *
Nebraska 18.5% *
Nevada 42.8%
New Hampshire
New Jersey 24.2%
New Mexico 23.4%
New York 32.9%
North Carolina 25.1%
North Dakota
Ohio 23.7%
Oklahoma 20.3% *
Oregon 27.8%
Pennsylvania 21.0%
Rhode Island 19.2% *
South Carolina 16.9%
South Dakota
Tennessee 25.2%
Texas 23.8%
Utah 23.0%
Vermont 26.7% *
Virginia 17.4%
Washington 25.3%
West Virginia 18.4%
Wisconsin 22.5%
Wyoming

Notes on the Data

"-". "-" indicates that no data is available, or data is suppressed due to a margin of error that is greater than 50% of the estimate.

* Indicates that the margin of error is greater than 25% of the estimate, and as such, this estimate is too imprecise to rank. Caution should be used when using this data.

Asset Poverty Rate by Race and Ethnicity

Asset Poverty Rate (%)
StateWhite HHs HHs of ColorBlack HHsAsian HHsHispanic HHs
United States 18.7% 40.7% 45.6% 21.1% 43.3%
Alabama 18.2% 36.1% 37.5%
Alaska
Arizona 24.0% 40.0% 50.4%
Arkansas 25.9%
California 20.6% 34.1% 44.8% 23.2% 42.2%
Colorado 18.7%
Connecticut 20.8%
Delaware 15.1%
District of Columbia
Florida 18.5% 40.0% 42.1% 47.3%
Georgia 21.6% 47.3% 49.8%
Hawaii 17.7%
Idaho 27.0%
Illinois 16.4% 43.0% 48.5% 39.2%
Indiana 20.5% 43.0% 49.6%
Iowa 20.5%
Kansas 16.7%
Kentucky 19.3%
Louisiana 15.7% 37.0% 38.3%
Maine 18.2%
Maryland 14.4% 33.5% 36.4%
Massachusetts 19.6% 41.7%
Michigan 20.6% 44.3% 50.6%
Minnesota 18.5%
Mississippi 18.8% 43.2% 43.5%
Missouri 17.9% 40.8% 43.4%
Montana
Nebraska 16.9%
Nevada 36.6%
New Hampshire 15.4%
New Jersey 13.8% 39.1% 43.2% 22.5% 49.0%
New Mexico 30.1%
New York 20.5% 53.0% 52.5% 36.2% 66.4%
North Carolina 17.6% 41.4% 44.2%
North Dakota
Ohio 17.6% 51.2% 54.8%
Oklahoma 16.6% 29.9%
Oregon 23.5%
Pennsylvania 17.4% 42.5% 49.9%
Rhode Island 16.1%
South Carolina 7.0% 38.4% 37.2%
South Dakota
Tennessee 20.0% 47.5% 49.8%
Texas 16.7% 36.6% 42.3% 30.1%
Utah 21.7%
Vermont 20.2%
Virginia 12.6% 30.6% 34.6%
Washington 23.0% 31.0% 36.0%
West Virginia 15.9%
Wisconsin 17.7% 48.8%
Wyoming

Estimates for White households are generated for the White, non-Hispanic population. Likewise, estimates for Hispanic households include all households of Hispanic or Latino origin, regardless of race.

Change in Asset Poverty Rate

Asset Poverty Rate (%)
State200220042006200920102011
United States 25.2% 22.4% 22.4% 27.1% 26.0% 25.4%
Alabama 24.5% 26.1% 20.2% 24.1% 21.2% 24.3%
Alaska 23.4% 21.7% *
Arizona 27.5% 27.0% 25.3% 33.9% 30.0% 32.0%
Arkansas 25.8% 24.1% 22.4% 25.6% 28.4% 29.0%
California 25.8% 24.2% 23.7% 30.9% 29.9% 29.2%
Colorado 28.6% 24.9% 21.2% 28.9% 26.3% 23.9%
Connecticut 21.7% 19.7% 23.1% 24.9% 23.5% 30.2%
Delaware 16.2% 11.1% 17.9% 19.8% * 23.8% * 18.9%
District of Columbia 39.7% 27.1% 25.0% 41.3% 30.3%
Florida 25.0% 20.8% 19.0% 27.2% 29.6% 27.3%
Georgia 26.8% 25.7% 23.3% 30.8% 29.3% 32.3%
Hawaii 26.9% 33.6% 17.0% 18.7% * 14.6% * 16.5%
Idaho 28.1% 23.1% 18.9% 24.8% 31.9% * 29.6%
Illinois 22.8% 19.8% 20.8% 26.4% 26.4% 23.5%
Indiana 23.9% 18.6% 21.9% 26.2% 22.9% 23.8%
Iowa 17.2% 15.5% 18.3% 22.9% 22.8% 21.8%
Kansas 21.8% 21.9% 22.1% 22.2% 22.2% 22.9% *
Kentucky 23.8% 26.0% 23.2% 27.5% 23.7% 21.4%
Louisiana 23.6% 24.4% 26.9% 23.6% 26.1% 23.6%
Maine 19.3% 1 18.0% 1 22.9% 24.1% 22.9% 20.3%
Maryland 23.8% 18.3% 18.1% 20.2% 22.8% 23.0%
Massachusetts 20.3% 21.8% 24.0% 26.4% 27.1% 24.2%
Michigan 20.8% 17.3% 19.9% 25.9% 25.8% 25.0%
Minnesota 15.8% 15.7% 16.1% 22.5% 19.3% 22.0%
Mississippi 25.8% 29.6% 23.8% 31.9% 29.5% 30.4%
Missouri 22.4% 21.6% 22.2% 24.3% 22.2% 21.6%
Montana 31.3% 29.4% 32.5% 26.1% 25.5% * 23.0% *
Nebraska 22.5% 20.1% 18.0% 23.5% * 21.1% 18.5% *
Nevada 32.8% 29.2% 26.3% 45.2% 43.9% 42.8%
New Hampshire 17.4% 19.4% 18.6% 20.1% * 21.0%
New Jersey 21.9% 18.8% 19.5% 26.1% 26.0% 24.2%
New Mexico 29.5% 38.7% 25.2% 29.4% 26.0% 23.4%
New York 34.7% 34.2% 32.5% 35.5% 32.9% 32.9%
North Carolina 21.1% 18.0% 26.0% 27.6% 26.8% 25.1%
North Dakota 31.2% 2 23.3% 2 24.3% 20.0% * 12.7%
Ohio 22.0% 24.2% 21.9% 27.3% 26.3% 23.7%
Oklahoma 27.6% 21.1% 23.1% 26.9% 23.4% 20.3% *
Oregon 26.2% 24.7% 26.2% 28.2% 24.1% 27.8%
Pennsylvania 19.4% 17.4% 18.7% 20.6% 19.6% 21.0%
Rhode Island 15.9% 24.6% 17.4% 21.8% 27.2% 19.2% *
South Carolina 25.6% 22.7% 25.6% 25.1% 23.9% 16.9%
South Dakota 31.2% 2 23.3% 2 16.1% 21.7% * 26.6% *
Tennessee 25.7% 24.7% 21.6% 25.8% 23.0% 25.2%
Texas 28.8% 26.4% 23.9% 27.7% 25.9% 23.8%
Utah 25.7% 29.2% 26.7% 22.0% 23.1% 23.0%
Vermont 19.3% 1 18.0% 1 15.7% * 20.6% 26.7% *
Virginia 24.9% 20.6% 13.9% 20.9% 17.7% 17.4%
Washington 21.8% 20.2% 20.3% 23.2% 23.2% 25.3%
West Virginia 26.2% 22.9% 18.0% 18.7% 15.5% 18.4%
Wisconsin 19.6% 18.1% 19.2% 22.0% 21.4% 22.5%
Wyoming 31.2% 2 23.3% 2 18.1% 20.9% * 21.5% *

Definition

Percentage of households without sufficient net worth to subsist at the poverty level for three months in the absence of income, 2011.

The threshold used to determine the asset poverty rate varies by family size. A family of four with net worth less than $6,063 in 2015 is asset poor.

Data are point estimates produced from a national survey with relatively small samples for some states, which can result in imprecise estimates and ranks. States are not ranked on this measure because estimates are too imprecise to say with confidence how the state compares to other states. For more information on how we measured precision and to download margin of error data for each state, see here.

Source

Survey of Income and Program Participation, 2008 Panel, Wave 10. Washington, DC: U.S. Department of Commerce, Census Bureau, 2013. Data calculated by Haveman Economic Consulting.

 "—" indicates that no data is available, or data is suppressed due to a margin of error that is greater than 50% of the estimate.

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