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

Delaware

Reports & Graphics

CONNECT TO
STAKEHOLDERS
IN DELAWARE

 

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WHAT DELAWARE CAN DO

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

Improve Financial Capability and Consumer Protections: To address the high average credit card debt and the number of consumers with subprime credit scores, Delaware should prepare people to wisely use credit by teaching financial education in schools, as well as protect them from predatory credit products by prohibiting or capping payday, auto-title loans and installment loans.

Encourage Savings and Investment: To increase low home- and business-ownership rates among people of color, Delaware should create a state Individual Development Account program to help families save for those investments. Delaware should also enact state tax credits so working families have more income for savings.

Strengthen K-12 Education: To increase math and reading proficiency, Delaware should increase funding for K-12 education in low-income school districts, and create strong systems for teacher evaluation and retention.

Overall Rank: 22

Outcome Rankings

Issue Area Rank: 25 | Grade: C

Outcome Measure State Data US Data Rank
Income Poverty Rate 10.4% 14.6% 5
Asset Poverty Rate 23.8% * 26.0%
Asset Poverty by Race 2.1 x higher
for HHs
of color
Asset Poverty by Gender 1.1 x higher
for single women
Asset Poverty by Family Structure 2.2 x higher
for 1-parent HHs
Liquid Asset Poverty Rate 34.2% 43.9% 10
Liquid Asset Poverty by Race 1.8 x higher
for HHs
of color
Liquid Asset Poverty by Gender 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 12.3% * 17.5%
Net Worth $117,928 $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 6.7% 8.2% 25
Underbanked Households 15.5% 20.1% 7
Households with Savings Accounts 68.0% 69.2% 35
Consumers with Subprime Credit 57.1% 56.4% 34
Borrowers 90+ Days Overdue 4.74% 4.33% 39
Average Credit Card Debt $12,178 $10,736 42
Bankruptcy Rate (per 1,000 people) 3.9 4.4 26
   
Additional Policies
Income Tax Threshold — $26,800
Tax Burden by Income — The poorest 20% of families pay 1.4 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.

* 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.

Outcome Rankings

Issue Area Rank: 24 | Grade: C

Outcome Measure State Data US Data Rank
Microenterprise Ownership Rate 14.8% 16.7% 40
Small Business Ownership Rate 1.53% 1.34% 13
Business Ownership by Race 2.1 x higher
for white workers
1.5 x higher
for white workers
41
Business Ownership by Gender 1.4 x higher
for men
1.3 x higher
for men
44
Business Value by Race 2.7 x higher
for white bus. owners
2.6 x higher
for white bus. owners
33
Business Value by Gender 2.8 x higher
for men
2.6 x higher
for men
35
Business Creation Rate (per 1,000 workers) 11.3 9.2 13
Private Loans to Small Business $857 $1,148 50
Unemployment Rate 7.5% 8.9% 18
Unemployment by Race 1.7 x higher
for people
of color
1.7 x higher
for people
of color
16
Underemployment Rate 13.2% 15.9% 13
Low-Wage Jobs 17.2% 21.5% 17
Average Annual Pay $48,697 $48,043 13
Retirement Plan Participation 50.2% 44.6% 12
Employers Offering Health Insurance 52.3% 51.0% 19
   

Policy Ratings

Policy Priorities
0.5 State Support for Microenterprise
0 Job Quality Standards
Additional Policies
Unemployment Benefit Level — 25.3% 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 — No state policy

Footnotes

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

Outcome Rankings

Issue Area Rank: 21 | Grade: C

Outcome Measure State Data US Data Rank
Homeownership Rate 71.6% 64.6% 5
Homeownership by Race 1.5 x higher
for white HHs
1.6 x higher
for white HHs
23
Homeownership by Income 1.9 x higher
for top 20%
2.2 x higher
for top 20%
3
Homeownership by Gender 1.1 x higher
for single men
1.01 x higher
for single women
Homeownership by Family Structure 1.6 x higher
for 2-parent HHs
1.9 x higher
for 2-parent HHs
6
Foreclosure Rate 3.39% 4.27% 31
Delinquent Mortgage Loans 3.80% 3.04% 46
High-Cost Mortgage Loans 1.60% 2.47% 20
Affordability of Homes (value/income) 4 x higher than median income 3.4 x higher than median income 37
Housing Cost Burden - Homeowners 34.9% 36.9% 29
Housing Cost Burden - Renters 52.7% 53.4% 31
   
Additional Policies
Housing Trust Funds — Has statewide housing trust fund
Preservation of Affordable Rental Housing — 86.8% of LIHTC for preservation
Tenant Protections from Foreclosure — No protections beyond federal law
Property Tax Relief — None
Resident Ownership of Manufactured Housing Communities — Medium strength protections; 60 days closure notice and opportunity to purchase; No tax incentive

Footnotes

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

Outcome Rankings

Issue Area Rank: 10 | Grade: A

Outcome Measure State Data US Data Rank
Uninsured Rate 10.9% 17.3% 9
Uninsured by Race 1.9 x higher
for people
of color
2 x higher
for people
of color
25
Uninsured by Income 2.3 x higher
for poorest 20%
3.5 x higher
for poorest 20%
4
Uninsured by Gender 1.3 x higher
for men
1.2 x higher
for men
44
Uninsured Low-Income Children 6.7% 10.7% 12
Uninsured Low-Income Parents 18.2% 34.5% 8
Employer-Provided Insurance Coverage 64.1% 57.4% 14
Employee Share of Premium 27.3% 26.4% 27
Out-of-Pocket Medical Expenses 16.2%
   

Policy Ratings

Policy Priorities
0 Access to Health Insurance
Additional Policies
Expanded COBRA Coverage — No state policy
Healthcare Information Databases — Does not have database

Footnotes

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

Outcome Rankings

Issue Area Rank: 27 | Grade: C

Outcome Measure State Data US Data Rank
Early Childhood Education Enrollment 15.3% 28.2% 40
Math Proficiency - 8th Grade 31.9% 34.7% 31
Reading Proficiency - 8th Grade 32.7% 33.5% 28
High School Degree 87.0% 85.9% 32
Two-Year College Degree 35.8% 36.3% 27
Four-Year College Degree 28.8% 28.5% 20
Four-Year Degree by Race 1.5 x higher
for white adults
1.6 x higher
for white adults
19
Four-Year Degree by Income 4.9 x higher
for top 20%
4.6 x higher
for top 20%
32
Four-Year Degree by Gender 1.04 x higher
for men
1.01 x higher
for men
Average College Graduate Debt $26,600
College Graduates with Debt 66%
Student Loan Default Rate 9.6% 13.4% 12
   
Additional Policies
State-Funded Head Start — $5,727,800 in supplemental funds
Quality of State Pre-K Programs — Established state program; $6,795 per child enrolled; 8 of 10 quality standards met
Kindergarten Standards — Full Day Kindergarten; no standards; no certificates or training required for teachers
State Financial Aid for Postsecondary Education — $499 per student; 71% need-based
TANF-Funded Workforce Training — 1.78% of funds spent on training
WIA-Funded Workforce Training — 67% 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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