CFED Scorecard

CFED Assets & Opportunity Scorecard

Financial Assets & Income
Extreme Asset Poverty Rate
Definition

Percentage of households that have zero or negative net worth, 2011.

Description

Extreme asset poverty is a measure of households with no wealth or negative net worth, i.e., debt is greater than assets. This measure describes the severity of asset poverty and demonstrates that some households have no financial cushion to help them weather a financial crisis or invest in their future. 

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

17.0% of United States households live in extreme asset poverty
No rankings for this measure

Extreme Asset Poverty Rate, 2011

StateExtreme Asset Poverty Rate (%)
United States 17.0%
Alabama 16.0%
Alaska
Arizona 21.3%
Arkansas 16.4% *
California 17.8%
Colorado 15.2%
Connecticut 18.8% *
Delaware 12.6% *
District of Columbia
Florida 19.4%
Georgia 23.9%
Hawaii 13.7% *
Idaho 19.4%
Illinois 16.3%
Indiana 15.9%
Iowa 16.1%
Kansas 14.7% *
Kentucky 11.2%
Louisiana 16.7% *
Maine 12.4%
Maryland 16.2%
Massachusetts 14.1%
Michigan 17.8%
Minnesota 15.8%
Mississippi 19.5%
Missouri 13.6%
Montana 14.1% *
Nebraska 10.2% *
Nevada 31.5%
New Hampshire 12.2% *
New Jersey 17.8%
New Mexico 12.8%
New York 24.2%
North Carolina 14.3%
North Dakota
Ohio 16.3%
Oklahoma 12.9% *
Oregon 20.2%
Pennsylvania 15.0%
Rhode Island
South Carolina 9.1%
South Dakota
Tennessee 15.3%
Texas 14.6%
Utah 17.8%
Vermont 12.6% *
Virginia 12.3%
Washington 19.3%
West Virginia 11.7%
Wisconsin 14.3%
Wyoming

Notes on the Data

* 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.

Liquid Asset Poverty Rate by Race and Ethnicity

Extreme Asset Poverty Rate (%)
StateWhite HHs HHs of ColorBlack HHsAsian HHsHispanic HHs
United States 12.7% 27.9% 31.9% 12.7% 26.5%
Alabama 12.1% 22.8% 23.5%
Alaska
Arizona 16.7% 27.2% 31.3%
Arkansas 13.2%
California 14.0% 20.4% 28.7% 13.9% 23.5%
Colorado 14.6%
Connecticut 13.2%
Delaware
District of Columbia
Florida 13.3% 28.4% 29.1% 32.5%
Georgia 16.0% 33.5% 35.4%
Hawaii 13.4%
Idaho 19.3%
Illinois 10.3% 35.9% 39.4% 24.1%
Indiana 13.6% 30.1% 36.9%
Iowa 14.9%
Kansas 12.9%
Kentucky 10.3%
Louisiana 11.1% 25.8% 25.9%
Maine 10.4%
Maryland 9.6% 25.5% 27.4%
Massachusetts 11.9% 26.6%
Michigan 14.3% 32.8% 39.3%
Minnesota 13.0%
Mississippi 13.4% 25.9% 24.9%
Missouri 10.7% 27.1% 26.4%
Montana
Nebraska 9.7%
Nevada 30.3%
New Hampshire 10.6%
New Jersey 8.6% 29.9% 34.5% 41.9%
New Mexico 12.8%
New York 14.8% 40.3% 42.4% 17.5% 49.6%
North Carolina 9.5% 26.3% 27.7%
North Dakota
Ohio 11.5% 38.3% 41.4%
Oklahoma 11.8%
Oregon 17.8%
Pennsylvania 12.3% 30.7% 35.3%
Rhode Island 11.4%
South Carolina 3.7% 22.3% 25.0%
South Dakota
Tennessee 12.1% 28.1% 31.6%
Texas 10.9% 24.9% 28.9% 15.9%
Utah 17.2%
Vermont 12.4%
Virginia 9.0% 21.0% 23.2%
Washington 17.8% 25.5% 23.6%
West Virginia 10.8%
Wisconsin 11.6% 30.9%
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.

Definition

Percentage of households that have zero or negative net worth, 2011.

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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