CFED Scorecard

CFED Assets & Opportunity Scorecard

Massachusetts
Overall
Outcome Rank
Overall
Policy Rank
Outcome Rankings
 
Policy Rankings
Financial Assets & Income 15 Financial Assets & Income 6
Businesses & Jobs 19 Businesses & Jobs 6
Housing & Homeownership 48 Housing & Homeownership 20
Health Care 4 Health Care 7
Education 3 Education 23

Connect to the Assets & Opportunity Network in Massachusetts
Liquid Asset Poverty Rate in MA
If Massachusetts improved to the performance of the best state, there would be:
228,899 fewer liquid asset poor households

OUTCOME RANKINGS
Issue Area Rank: 15 | GRADE B

Outcome Measure State Data US Data Rank
Income Poverty Rate 12.2% 14.5% 17
Asset Poverty Rate 24.2% 25.4%
Liquid Asset Poverty Rate 35.3% 43.5% 8
Extreme Asset Poverty Rate 14.1% 17.0%
Net Worth $124,994 $70,359
Income Inequality 5.6 x as high
for top 20%
5 x as high
for top 20%
48
Unbanked Households 5.8% 7.7% 21
Underbanked Households 17.2% 20.0% 13
Households with Savings Accounts 75.4% 68.8% 19
Consumers with Prime Credit 57.2% 48.9% 7
On-Time Payers 82.4% 79.2% 16
Access to Revolving Credit 75.2% 67.9% 5
Bankruptcy Rate (per 1,000 people) 1.5 2.9 9

POLICY RANKINGS
Issue Area Rank: 6 | 12 of 24 policies adopted

Policy Priorities
Asset Limits in Public Benefit Programs
Eliminated TANF asset test?
Eliminated SNAP asset test?
Eliminated LIHEAP asset test?
Child and Child Care Tax Credits
CDCTC enacted?
Refundable CTC?
Debt Collection Protections
At least 2 major assets protected?
Abusive debt buying practices protected against?
Direct Deposit Access
Does state remove barriers to direct deposit?
EITC State Funding
State EITC?
Refundable EITC?
State EITC is 15% of federal?
Individual Development Accounts
Authorized state funding?
Predatory Debt Settlement Protections
Debt settlement protections?
Prize-Linked Savings
Prize-linked savings?
Predatory Small-Dollar Lending Protections
Protect against payday lending?
Protect against car-title lending?
Protect against installment loans?
Retirement Savings
Auto-IRA?
Statewide Financial Access Programs
Statewide financial access program?
Tax Fairness
State income tax?
Progressive State Tax Rate?
Tax Prep Regulations
Regulate tax preparers?
Ban add-on fees?
Unemployment Comp. Using Prepaid Cards
Low-fee UI prepaid card?

Footnotes

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

Low-Wage Jobs in MA
If Massachusetts improved to the performance of the best state, there would be:
196,828 fewer jobs in low-wage occupations

OUTCOME RANKINGS
Issue Area Rank: 19 | GRADE B

Outcome Measure State Data US Data Rank
Microenterprise Ownership Rate 15.6% 16.6% 31
Small Business Ownership Rate 1.49% 1.38% 18
Business Ownership by Race 1.5 x as high
for white workers
1.22 x as high
for white workers
27
Business Ownership by Gender 1.6 x as high
for men
1.3 x as high
for men
51
Business Value by Race 2.6 x as high
for white bus. owners
2.9 x as high
for white bus. owners
22
Business Value by Gender 3.6 x as high
for men
3 x as high
for men
46
Business Creation Rate (per 1,000 workers) 9.6 9.3 23
Private Loans to Small Business $1,217 $1,318 36
Unemployment Rate 4.9% 5.4% 20
Unemployment by Race 2.1 x as high
for workers
of color
1.7 x as high
for workers
of color
36
Underemployment Rate 9.8% 10.8% 20
Low-Wage Jobs 15.7% 25.6% 4
Average Annual Pay $59,742 $51,364 2
Retirement Plan Participation 49.8% 45.8% 19
Employers Offering Health Insurance 59.0% 47.5% 3

POLICY RANKINGS
Issue Area Rank: 6 | 5 of 10 policies adopted

Policy Priorities
Microbusiness Support
CDBG funding?
State leverage of TANF or WIA?
Minimum Wage
Adequate minimum wage by 2017?
All classes of workers covered by state minimum wage?
Paid Leave
Paid leave required?
Expanded FMLA?
Unemployment Benefits
Adequate benefit?
2 of 3 eligibility rules adopted?
Unemployed Entrepreneur Support
Active SEA program?
Workforce Development - Sector Partnerships
State support for sector partnerships?

Footnotes

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

Housing Cost Burden - Renters in MA
If Massachusetts improved to the performance of the best state, there would be:
103,941 fewer cost-burdened renters

OUTCOME RANKINGS
Issue Area Rank: 48 | GRADE F

Outcome Measure State Data US Data Rank
Homeownership Rate 61.6% 63.1% 42
Homeownership by Race 2.2 x as high
for white HHs
1.6 x as high
for white HHs
49
Homeownership by Income 3 x as high
for top 20%
2.2 x as high
for top 20%
48
Homeownership by Gender 1.06x as high
for single women
1.03x as high
for single women
Homeownership by Family Structure 2.3 x higher
for 2-parent HHs
1.9 x higher
for 2-parent HHs
49
Foreclosure Rate 2.22% 2.09% 32
Delinquent Mortgage Loans 2.56% 1.86% 46
High-Cost Mortgage Loans 2.5% 7.1% 4
Affordability of Homes (value/income) 4.9 x higher than median income 3.4 x higher than median income 48
Housing Cost Burden - Homeowners 32.6% 30.8% 42
Housing Cost Burden - Renters 50.5% 51.8% 28

POLICY RANKINGS
Issue Area Rank: 20 | 6 of 13 policies adopted

Policy Priorities
Foreclosure Regulations
Third-party review?
Mortgage servicer regulation?
First-Time Homebuyer Assistance
Downpayment assistance?
Direct lending?
Homeownership counseling?
Housing Trust Funds
Housing trust fund?
Protection from Discrimination for Low-Income Renters
Section 8 protections?
Post-Foreclosure Protections
Deficiency judgments limited/abolished?
Property Tax Relief
Well-targeted circuit breaker?
Redeveloping Foreclosed Properties
Land banking enabled?
Resident Ownership, Titling and Zoning of Manufactured Homes
Encourages resident ownership?
Allows titling as real property or includes MH in single-family district zoning?
Tenant Protections from Foreclosure
Tenant foreclosure protections?

Footnotes

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

Uninsured Rate in MA
If Massachusetts improved to the performance of the best state, there would be:
Massachusetts is the best performing state

OUTCOME RANKINGS
Issue Area Rank: 4 | GRADE A

Outcome Measure State Data US Data Rank
Uninsured Rate 3.8% 13.5% 1
Uninsured by Race 2.1 x as high
for people
of color
2 x as high
for people
of color
30
Uninsured by Income 4.3 x as high
for poorest 20%
4.5 x as high
for poorest 20%
28
Uninsured by Gender 1.7 x as high
for men
1.2 x as high
for men
50
Uninsured Low-Income Children 2.3% 8.2% 1
Employer-Provided Insurance Coverage 67.6% 57.6% 2
Employee Share of Premium 27.3% 27.1% 29
Forgoing Doctor Visit Due to Cost 8.3% 14.3% 2

POLICY RANKINGS
Issue Area Rank: 7 | 2 of 4 policies adopted

Policy Priorities
Limitations on Hospital Charges, Billing and Collections
Limits charges, billing or collections?
Medicaid Expansion
Medicaid expansion?
Simplified Procedures for CHIP Enrollment and Renewal
2 of 3 strategies implemented?
Simplified Procedures for Medicaid Enrollment
1 of 2 strategies implemented?

Footnotes

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

Disconnected Youth in MA
If Massachusetts improved to the performance of the best state, there would be:
1,131 fewer young adults out of school and unemployed

OUTCOME RANKINGS
Issue Area Rank: 3 | GRADE A

Outcome Measure State Data US Data Rank
Early Childhood Education Enrollment 58.7% 47.1% 4
Math Proficiency - 8th Grade 50.8% 32.1% 1
Reading Proficiency - 8th Grade 45.7% 34.3% 1
High School Graduation Rate 86.1% 82.3% 19
High School Degree 89.7% 86.9% 22
Two-Year College Degree 49.0% 38.2% 2
Four-Year College Degree 41.2% 30.1% 2
Four-Year Degree by Race 1.6 x higher
for white adults
1.6 x higher
for white adults
26
Four-Year Degree by Income 3.8 x as high
for top 20%
4.5 x as high
for top 20%
16
Four-Year Degree by Gender 1.05 x as high
for women
1.01 x as high
for women
Average College Graduate Debt $29,391 $27,022 39
College Graduates with Debt 65% 61% 33
Student Loan Default Rate 6.4% 11.8% 1
Disconnected Youth 8.4% 13.8% 2

POLICY RANKINGS
Issue Area Rank: 23 | 6 of 18 policies adopted

Policy Priorities
College Savings Incentives
Minimized savings barriers?
Tax credit?
Deposit or match?
Universal deposit or match?
Early Education Access
Sufficient funding?
7 of 10 quality standards met?
Financial Aid for Postsecondary Education
Adequate financial aid funding?
Well-targeted financial aid?
Full-Day Kindergarten
Full-day kindergarten required?
Financial Education in Schools
Adequate requirement for personal finance education?
For-Profit School Regulation
Tuition compensation?
Effective online regulation?
Head Start State Funding
Head Start grant?
In-State Tuition for Undocumented Students
In-state tuition?
K-12 Education Funding and Quality
Adequate education spending?
Strong teacher evaluation and retention?
Postsecondary Education Funding
Adequate funding for public colleges?
Workforce Development
Adequate workforce training funding?

Footnotes

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

Copyright © 2016 CFED — Corporation for Enterprise Development 1200 G Street, NW Suite 400 Washington, DC 20005 202.408.9788