CFED Scorecard

CFED Assets & Opportunity Scorecard

Estimated Impacts for Massachusetts Reports & Graphics

The Assets & Opportunity Scorecard enables states to compare their performance to other states and the District of Columbia on measures of financial security and household wealth. This report shows the number of people who would be better off if the state performed as well as the best ranked state on 16 key measures.


Financial Assets & Income

Measure
State
Rate
Best
State
Best
Rate
If Massachusetts performed as well as the best state, there would be:
Income Poverty Rate 12.3% AK 8.5% 95,598 fewer income poor households
Liquid Asset Poverty Rate 35.3% IA 26.2% 228,899 fewer liquid asset poor households
Unbanked Households 4.9% NH 1.9% 75,962 fewer unbanked households
Underbanked Households 14.1% NH 12.5% 40,513 fewer underbanked households
 
Businesses & Jobs

Measure
State
Rate
Best
State
Best
Rate
If Massachusetts performed as well as the best state, there would be:
Microenterprise Ownership Rate 15.6% FL 20.8% 180,520 more workers owning microenterprises
Small Business Ownership Rate 1.47% MT 2.05% 20,000 more workers owning small businesses
Low-Wage Jobs 9.9% DC 5.6% 144,860 fewer jobs in low-wage occupations
 
Housing & Homeownership

Measure
State
Rate
Best
State
Best
Rate
If Massachusetts performed as well as the best state, there would be:
Homeownership Rate 62.2% WV 72.0% 245,546 more homeowners
Foreclosure Rate 2.63% WY 0.79% 13,466 fewer home loans in foreclosure
Housing Cost Burden - Homeowners 35.2% ND 17.4% 199,541 fewer cost-burdened homeowners
Housing Cost Burden - Renters 49.4% ND 35.3% 127,446 fewer cost-burdened renters
 
Health

Measure
State
Rate
Best
State
Best
Rate
If Massachusetts performed as well as the best state, there would be:
Uninsured Rate 4.4% MA 4.4% Massachusetts is the best performing state
Uninsured Low-Income Children 2.1% VT 2.1% 310 more low-income children with health insurance
 
Education

Measure
State
Rate
Best
State
Best
Rate
If Massachusetts performed as well as the best state, there would be:
High School Degree 89.7% MT 92.8% 143,118 more adults with at least a high school degree
Four-Year College Degree 39.3% DC 53.0% 623,395 more adults with 4-year college degrees
Student Loan Default Rate 8.5% ND 6.0% 2,271 fewer borrowers defaulting on their student loans
 

Methodology

Estimates were generated as follows: for each indicator, the rate of the best performing state was multiplied by the appropriate population (households, adults over 25, labor force, etc.) in the remaining states. The difference between the states’ improved performance and actual performance was then calculated. For example, there are 3,019,382 homeowners in Ohio. If the state’s homeownership rate improved to West Virginia’s, the measure’s top-ranked state, there would be 3,278,420 homeowners — an estimated impact of 259,038 additional homeowners.

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