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

Homeownership by Income

Definition

Ratio of the homeownership rate of households in the top income quintile to households in the bottom income quintile, 2010.

Calculated by dividing the higher value by the lower value, i.e., the homeownership rate of top income quintile households divided by bottom income quintile households. Income quintiles are calculated at the state level, and the income thresholds used to define quintiles can be found here.

A ratio of 1 indicates perfect equality; the higher the ratio, the greater the inequality. For example, the homeownership rate for households in the top income quintile in Rhode Island is 3.6 times higher than for households in the bottom income quintile.

Description

This measure describes the disparity in homeownership rates between rich and poor households. In every state, low-income families have lower rates of homeownership, though studies of asset accumulation among low-income households note the particular importance of home equity as a source of wealth. For example, in the District of Columbia, households in the top income quintile are four times more likely to be homeowners than households in the bottom quintile (76% to 19% respectively).

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Homeownership by Income

StateHomeownership Rate,
Top Quintile (%)
Homeownership Rate,
Bottom Quintile (%)
RatioRank
United States  87.7%  39.3%  2.23   
Alabama  92.4%  45.3%  2.04  13 
Alaska  87.4%  40.5%  2.16  21 
Arizona  86.4%  42.6%  2.03  11 
Arkansas  91.5%  40.7%  2.25  30 
California  81.7%  31.3%  2.61  47 
Colorado  90.7%  38.2%  2.38  37 
Connecticut  92.9%  36.2%  2.57  45 
Delaware  93.3%  48.6%  1.92 
District of Columbia  76.1%  19.4%  3.93  51 
Florida  87.8%  48.5%  1.81 
Georgia  90.1%  40.6%  2.22  27 
Hawaii  81.5%  37.9%  2.15  19 
Idaho  92.7%  43.1%  2.15  20 
Illinois  90.9%  38.3%  2.38  36 
Indiana  92.6%  40.3%  2.30  33 
Iowa  92.6%  44.7%  2.07  14 
Kansas  92.6%  41.6%  2.23  28 
Kentucky  92.2%  42.0%  2.19  25 
Louisiana  89.8%  45.8%  1.96 
Maine  92.3%  43.6%  2.12  18 
Maryland  91.9%  40.8%  2.25  32 
Massachusetts  88.9%  29.4%  3.02  48 
Michigan  92.9%  44.3%  2.10  17 
Minnesota  93.7%  42.7%  2.19  26 
Mississippi  90.4%  45.2%  2.00 
Missouri  91.6%  41.8%  2.19  24 
Montana  90.8%  48.2%  1.89 
Nebraska  93.2%  39.0%  2.39  38 
Nevada  81.3%  34.5%  2.36  35 
New Hampshire  93.2%  44.6%  2.09  15 
New Jersey  90.9%  37.6%  2.42  40 
New Mexico  88.6%  44.0%  2.01 
New York  78.6%  25.4%  3.10  49 
North Carolina  91.5%  42.1%  2.17  23 
North Dakota  90.5%  35.3%  2.57  44 
Ohio  92.9%  36.7%  2.53  43 
Oklahoma  91.0%  43.6%  2.09  16 
Oregon  88.9%  34.2%  2.60  46 
Pennsylvania  91.9%  42.5%  2.16  22 
Rhode Island  91.4%  25.2%  3.63  50 
South Carolina  90.7%  44.8%  2.02  10 
South Dakota  91.3%  37.8%  2.41  39 
Tennessee  91.7%  40.7%  2.25  31 
Texas  88.4%  39.6%  2.23  29 
Utah  92.7%  39.7%  2.34  34 
Vermont  92.2%  45.4%  2.03  12 
Virginia  88.9%  45.1%  1.97 
Washington  88.1%  35.1%  2.51  41 
West Virginia  90.8%  50.0%  1.82 
Wisconsin  93.7%  37.1%  2.53  42 
Wyoming  90.1%  45.9%  1.96 

Source

2010 American Community Survey. Washington, DC: U.S. Department of Commerce, Census Bureau, 2010. Data calculated by theĀ Bay Area Council Economic Institute.

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