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

Households with Savings Accounts

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

Change in Consumers with Subprime Credit

Change in Average Credit Card Debt

Businesses & Jobs

Housing & Homeownership

Health Care

Education

CFED Assets & Opportunity Scorecard

Colorado

Reports & Graphics

CONNECT TO
STAKEHOLDERS
IN COLORADO

 

Lead State Organization

Colorado Community Action Association

 

Lead Local Organization

This state doesn’t have a Lead Local Organization. 

 

Click here to learn how to join the Network.

 

WHAT COLORADO CAN DO

There are many policies that Colorado could enact to improve its climate for asset building and preservation:

Improve Financial Stability: To reduce debt, liquid asset poverty and bankruptcy, Colorado should help families maximize their incomes by enacting a refundable Earned Income Tax Credit and Child Tax Credit.

Expand Health Care Coverage:  To increase health care coverage and reduce the disparity in coverage by income, Colorado should increase income eligibility thresholds for public health care programs and provide basic dental care for adults.

Increase College Attainment: To close the college attainment gap for people of color, Colorado should create incentives for college savings by automatically enrolling all children into 529 accounts and minimizing barriers to education savings.

Overall Rank: 19

Outcome Rankings

Issue Area Rank: 22 | Grade: C

Outcome Measure State Data US Data Rank
Income Poverty Rate 12.3% 14.6% 15
Asset Poverty Rate 26.3% 26.0%
Asset Poverty by Race 2.1 x higher
for HHs
of color
Asset Poverty by Gender 1.2 x higher
for single men
1.1 x higher
for single women
Asset Poverty by Family Structure 2.2 x higher
for 1-parent HHs
Liquid Asset Poverty Rate 45.8% 43.9% 28
Liquid Asset Poverty by Race 1.8 x higher
for HHs
of color
Liquid Asset Poverty by Gender 1.08 x higher
for single men
1.09 x higher
for single women
Liquid Asset Poverty by Family Structure 1.9 x higher
for 1-parent HHs
Extreme Asset Poverty Rate 19.3% 17.5%
Net Worth $83,175 $68,948
Net Worth by Race 10.3 x higher
for white HHs
Net Worth by Income 68 x higher
for top 20%
Net Worth by Gender 1.18 x higher
for single men
Net Worth by Family Structure 22 x higher
for 2-parent HHs
Unbanked Households 5.4% 8.2% 18
Underbanked Households 16.1% 20.1% 8
Households with Savings Accounts 75.4% 69.2% 15
Consumers with Subprime Credit 51.8% 56.4% 17
Borrowers 90+ Days Overdue 3.46% 4.33% 16
Average Credit Card Debt $11,407 $10,736 35
Bankruptcy Rate (per 1,000 people) 5.7 4.4 43
   
Additional Policies
Income Tax Threshold — $19,600
Tax Burden by Income — The poorest 20% of families pay 1.9 times more of their income in taxes than the top 1% of families
Prize-Linked Savings — Prize-linked savings not allowed
Paperless Payday — Paperless payday permitted

Footnotes

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

Outcome Rankings

Issue Area Rank: 5 | Grade: A

Outcome Measure State Data US Data Rank
Microenterprise Ownership Rate 18.6% 16.7% 7
Small Business Ownership Rate 1.41% 1.34% 27
Business Ownership by Race 1.9 x higher
for white workers
1.5 x higher
for white workers
37
Business Ownership by Gender 1.1 x higher
for men
1.3 x higher
for men
9
Business Value by Race 2 x higher
for white bus. owners
2.6 x higher
for white bus. owners
10
Business Value by Gender 2.7 x higher
for men
2.6 x higher
for men
27
Business Creation Rate (per 1,000 workers) 13.2 9.2 5
Private Loans to Small Business $1,370 $1,148 9
Unemployment Rate 8.4% 8.9% 27
Unemployment by Race 1.7 x higher
for people
of color
1.7 x higher
for people
of color
19
Underemployment Rate 15.1% 15.9% 27
Low-Wage Jobs 14.6% 21.5% 8
Average Annual Pay $49,578 $48,043 9
Retirement Plan Participation 47.8% 44.6% 25
Employers Offering Health Insurance 46.8% 51.0% 40
   

Policy Ratings

Policy Priorities
0.5 State Support for Microenterprise
0.25 Job Quality Standards
Additional Policies
Unemployment Benefit Level — 36.4% of average weekly wage
Unemployment Benefit Eligibility — Uses alternative base period; Part-time workers covered; Benefits for compelling family reasons
Incentives for Employee Ownership — No state policy
Loans for Beginning Farmers — Has Aggie Bond Program

Footnotes

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

Outcome Rankings

Issue Area Rank: 22 | Grade: C

Outcome Measure State Data US Data Rank
Homeownership Rate 64.4% 64.6% 39
Homeownership by Race 1.5 x higher
for white HHs
1.6 x higher
for white HHs
20
Homeownership by Income 2.4 x higher
for top 20%
2.2 x higher
for top 20%
37
Homeownership by Gender 1.04 x higher
for single women
1.01 x higher
for single women
Homeownership by Family Structure 1.8 x higher
for 2-parent HHs
1.9 x higher
for 2-parent HHs
24
Foreclosure Rate 1.90% 4.27% 9
Delinquent Mortgage Loans 1.87% 3.04% 10
High-Cost Mortgage Loans 0.88% 2.47% 5
Affordability of Homes (value/income) 4.2 x higher than median income 3.4 x higher than median income 41
Housing Cost Burden - Homeowners 35.0% 36.9% 30
Housing Cost Burden - Renters 51.6% 53.4% 24
   
Additional Policies
Housing Trust Funds — Has statewide housing trust fund
Preservation of Affordable Rental Housing — 5.9% of LIHTC for preservation
Tenant Protections from Foreclosure — Has protections beyond federal law
Property Tax Relief — Circuit breaker for homeowners and renters who are elderly or disabled; Tax deferment
Resident Ownership of Manufactured Housing Communities — No protections for homeowners

Footnotes

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

Outcome Rankings

Issue Area Rank: 51 | Grade: F

Outcome Measure State Data US Data Rank
Uninsured Rate 16.9% 17.3% 32
Uninsured by Race 2 x higher
for people
of color
2 x higher
for people
of color
33
Uninsured by Income 5 x higher
for poorest 20%
3.5 x higher
for poorest 20%
48
Uninsured by Gender 1.2 x higher
for men
1.2 x higher
for men
34
Uninsured Low-Income Children 15.8% 10.7% 46
Uninsured Low-Income Parents 38.1% 34.5% 41
Employer-Provided Insurance Coverage 57.9% 57.4% 30
Employee Share of Premium 31.3% 26.4% 46
Out-of-Pocket Medical Expenses 17.6% 16.2%
   

Policy Ratings

Policy Priorities
0.25 Access to Health Insurance
Additional Policies
Expanded COBRA Coverage — COBRA expansion for 18 months
Healthcare Information Databases — Has database

Footnotes

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

Outcome Rankings

Issue Area Rank: 5 | Grade: A

Outcome Measure State Data US Data Rank
Early Childhood Education Enrollment 24.7% 28.2% 23
Math Proficiency - 8th Grade 43.5% 34.7% 7
Reading Proficiency - 8th Grade 40.3% 33.5% 6
High School Degree 90.2% 85.9% 15
Two-Year College Degree 45.0% 36.3% 3
Four-Year College Degree 36.7% 28.5% 4
Four-Year Degree by Race 2.4 x higher
for white adults
1.6 x higher
for white adults
49
Four-Year Degree by Income 3.3 x higher
for top 20%
4.6 x higher
for top 20%
6
Four-Year Degree by Gender 1.03 x higher
for men
1.01 x higher
for men
Average College Graduate Debt $22,283 $26,600 11
College Graduates with Debt 54% 66% 12
Student Loan Default Rate 16.9% 13.4% 48
   
Additional Policies
State-Funded Head Start — No state supplement
Quality of State Pre-K Programs — Established state program; $3,623 per child enrolled; 6 of 10 quality standards met
Kindergarten Standards — Half Day Kindergarten; separate standards; no certificates or training required for teachers
State Financial Aid for Postsecondary Education — $286 per student; 99% need-based
TANF-Funded Workforce Training — 0.33% of funds spent on training
WIA-Funded Workforce Training — 79.5% of participants received training

Footnotes

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

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