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 Rate

Definition

Percentage of households without sufficient net worth to subsist at the poverty level for three months in the absence of income, 2009.

The threshold used to determine the asset poverty rate varies by family size. A family of three with net worth less than $4,632 in 2011 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.

Description

This measure expands the notion of poverty to include how much of a financial cushion a household has to weather financial crises, e.g., a job loss, medical emergency, the need to fix a car. Three months is a conservative cushion for a family that loses its income. It is also conservative in that it counts all assets, including those – such a home – that would need to be liquidated to be used for day-to-day needs. Even with this conservative definition, asset poverty exceeds income poverty in all 50 states and the District of Columbia.

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Asset Poverty Rate

StateAsset Poverty Rate (%)
United States  27.1% 
Alabama  24.1% 
Alaska  21.7% *
Arizona  33.9% 
Arkansas  25.6% 
California  30.9% 
Colorado  28.9% 
Connecticut  24.9% 
Delaware  19.8% *
District of Columbia  41.3% 
Florida  27.2% 
Georgia  30.8% 
Hawaii  18.7% *
Idaho  24.8% 
Illinois  26.4% 
Indiana  26.2% 
Iowa  22.9% 
Kansas  22.2% 
Kentucky  27.5% 
Louisiana  23.6% 
Maine  24.1% 
Maryland  20.2% 
Massachusetts  26.4% 
Michigan  25.9% 
Minnesota  22.5% 
Mississippi  31.9% 
Missouri  24.3% 
Montana  26.1% 
Nebraska  23.5% *
Nevada  45.2% 
New Hampshire  20.1% *
New Jersey  26.1% 
New Mexico  29.4% 
New York  35.5% 
North Carolina  27.6% 
North Dakota  20.0% *
Ohio  27.3% 
Oklahoma  26.9% 
Oregon  28.2% 
Pennsylvania  20.6% 
Rhode Island  21.8% 
South Carolina  25.1% 
South Dakota  21.7% *
Tennessee  25.8% 
Texas  27.7% 
Utah  22.0% 
Vermont  15.7% *
Virginia  20.9% 
Washington  23.2% 
West Virginia  18.7% 
Wisconsin  22.0% 
Wyoming  20.9% *

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.

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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