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

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

Businesses & Jobs

Housing & Homeownership

Health Care

Education

CFED Assets & Opportunity Scorecard

Asset Poverty by Race

Definition

Ratio of the asset poverty rate of white, non-Hispanic households to households of color (Black or African-American; Asian; Hispanic or Latino; other races), 2009.

Calculated by dividing the higher value by the lower value, i.e., the asset poverty rate of households of color divided by white households.

A ratio of 1 indicates perfect equality; the higher the ratio, the greater the inequality. For example, the asset poverty rate for households of color in Alabama is 2.7 times higher than for white households.

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 due to insufficient data at the state level. For more information on how we measured precision and to download margin of error data for each state, see here.

Description

This measure describes the disparity in asset poverty between white households and households of color. Asset poverty is significantly higher for households of color, indicating that these households are more vulnerable to a financial crisis or a loss of income. In New Jersey, for example, 14.1% of white households are asset poor while 47.2% of households of color are asset poor, indicating that households of color in New Jersey are slightly more than three times more likely to be asset poor than their white counterparts.

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Asset Poverty by Race

StateAsset Poverty,
White Households (%)
Asset Poverty,
Households of Color (%)
Ratio
United States  20.1%  43.6%  2.16 
Alabama  15.3% * 41.8%  2.74 
Alaska  —  —  — 
Arizona  28.4%  45.2%  1.59 
Arkansas  20.4% * 44.1%  2.16 
California  21.1%  41.8%  1.98 
Colorado  23.7%  49.7% * 2.10 
Connecticut  17.7%  46.3%  2.62 
Delaware  16.4% * —  — 
District of Columbia  —  —  — 
Florida  19.7%  41.2%  2.09 
Georgia  21.6%  44.9%  2.08 
Hawaii  —  21.0%  — 
Idaho  22.3% * —  — 
Illinois  17.8%  46.7%  2.62 
Indiana  22.8%  43.8%  1.92 
Iowa  22.1%  —  — 
Kansas  17.4%  —  — 
Kentucky  24.9%  —  — 
Louisiana  14.3% * 40.3%  2.82 
Maine  21.3%  —  — 
Maryland  14.6%  29.7%  2.03 
Massachusetts  22.1%  52.1%  2.35 
Michigan  20.6%  47.1%  2.29 
Minnesota  20.0%  42.2%  2.11 
Mississippi  21.7%  46.5%  2.15 
Missouri  19.7%  44.5%  2.26 
Montana  26.6%  —  — 
Nebraska  21.6% * —  — 
Nevada  33.0%  62.4%  1.89 
New Hampshire  17.8% * —  — 
New Jersey  14.1%  47.2%  3.34 
New Mexico  17.8% * 42.8%  2.40 
New York  24.1%  57.8%  2.40 
North Carolina  17.4%  48.1%  2.76 
North Dakota  19.2% * —  — 
Ohio  21.6%  53.3%  2.47 
Oklahoma  21.9%  39.1%  1.78 
Oregon  24.8%  44.7% * 1.80 
Pennsylvania  17.7%  37.8%  2.14 
Rhode Island  18.7%  —  — 
South Carolina  14.7%  45.2%  3.07 
South Dakota  17.7% * —  — 
Tennessee  19.9%  48.0%  2.42 
Texas  19.4%  37.7%  1.94 
Utah  19.1% * —  — 
Vermont  16.1% * —  — 
Virginia  16.4%  32.1%  1.96 
Washington  20.9%  30.9%  1.48 
West Virginia  15.5%  —  — 
Wisconsin  17.9%  48.2%  2.69 
Wyoming  —  —  — 

Source

Survey of Income and Program Participation, 2008 Panel, Wave 4. Washington, DC: U.S. Department of Commerce, Census Bureau, 2009. Data calculated by the Bay Area Council Economic Institute.

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

Footnotes

* 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.

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