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

Montana

Reports & Graphics

CONNECT TO
STAKEHOLDERS
IN MONTANA

 

Lead State Organization

BEST Montana (Building Economic Strength Together)

 

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WHAT MONTANA CAN DO

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

Increase Incomes and Encourage Savings: To address high rates of income and asset poverty, Montana should enact tax credits to maximize income for low-wage workers; remove the disincentive to save for very low-income families by lifting asset limits in the TANF and family Medicaid programs; and create a state Individual Development Account program to help residents save.

Expand Health Care Coverage: To lower its high uninsured rate, particularly among children and low-income parents, the Montana legislature should adopt the Governor’s $5.2 million expansion of Medicaid over the next two years.

Improve Job Quality: To improve job quality, Montana should increase the state minimum wage and expand federal job quality laws to cover more Montana workers.

Overall Rank: 6

Outcome Rankings

Issue Area Rank: 15 | Grade: B

Outcome Measure State Data US Data Rank
Income Poverty Rate 13.3% 14.6% 23
Asset Poverty Rate 25.5% * 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 40.0% * 43.9% N.R.
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 17.5%
Net Worth $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 4.8% 8.2% 13
Underbanked Households 22.0% 20.1% 40
Households with Savings Accounts 72.3% 69.2% 23
Consumers with Subprime Credit 48.6% 56.4% 9
Borrowers 90+ Days Overdue 3.04% 4.33% 8
Average Credit Card Debt $8,120 $10,736 16
Bankruptcy Rate (per 1,000 people) 2.5 4.4 13
   
Additional Policies
Income Tax Threshold — $10,300
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 not 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: 6 | Grade: A

Outcome Measure State Data US Data Rank
Microenterprise Ownership Rate 20.7% 16.7% 2
Small Business Ownership Rate 2.03% 1.34% 1
Business Ownership by Race 1.4 x higher
for white workers
1.5 x higher
for white workers
7
Business Ownership by Gender 1.3 x higher
for men
1.3 x higher
for men
25
Business Value by Race 1.9 x higher
for white bus. owners
2.6 x higher
for white bus. owners
7
Business Value by Gender 2.3 x higher
for men
2.6 x higher
for men
6
Business Creation Rate (per 1,000 workers) 16.6 9.2 1
Private Loans to Small Business $1,481 $1,148 8
Unemployment Rate 7.3% 8.9% 14
Unemployment by Race 2 x higher
for people
of color
1.7 x higher
for people
of color
32
Underemployment Rate 15.3% 15.9% 30
Low-Wage Jobs 28.1% 21.5% 41
Average Annual Pay $38,116 $48,043 49
Retirement Plan Participation 45.3% 44.6% 36
Employers Offering Health Insurance 41.1% 51.0% 50
   

Policy Ratings

Policy Priorities
0.5 State Support for Microenterprise
0.25 Job Quality Standards
Additional Policies
Unemployment Benefit Level — 39.2% of average weekly wage
Unemployment Benefit Eligibility — Uses alternative base period; Part-time workers covered; Some benefits for compelling family reasons
Incentives for Employee Ownership — Direct state assistance; Not all criteria met
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: 6 | Grade: A

Outcome Measure State Data US Data Rank
Homeownership Rate 67.9% 64.6% 21
Homeownership by Race 1.4 x higher
for white HHs
1.6 x higher
for white HHs
16
Homeownership by Income 2 x higher
for top 20%
2.2 x higher
for top 20%
12
Homeownership by Gender 1.06 x higher
for single women
1.01 x higher
for single women
Homeownership by Family Structure 1.7 x higher
for 2-parent HHs
1.9 x higher
for 2-parent HHs
11
Foreclosure Rate 1.65% 4.27% 6
Delinquent Mortgage Loans 1.25% 3.04% 4
High-Cost Mortgage Loans 1.85% 2.47% 23
Affordability of Homes (value/income) 4.2 x higher than median income 3.4 x higher than median income 40
Housing Cost Burden - Homeowners 37.2% 36.9% 37
Housing Cost Burden - Renters 46.6% 53.4% 6
   
Additional Policies
Housing Trust Funds — Has statewide housing trust fund
Preservation of Affordable Rental Housing — 22.8% of LIHTC for preservation
Tenant Protections from Foreclosure — Has protections beyond federal law
Property Tax Relief — Circuit breaker for homeowners and elderly renters; No tax deferment
Resident Ownership of Manufactured Housing Communities — Medium strength protections; Tax incentive to sell to homeowners; No closure notice or opportunity to purchase

Footnotes

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

Outcome Rankings

Issue Area Rank: 40 | Grade: D

Outcome Measure State Data US Data Rank
Uninsured Rate 21.3% 17.3% 44
Uninsured by Race 2 x higher
for people
of color
2 x higher
for people
of color
28
Uninsured by Income 3.1 x higher
for poorest 20%
3.5 x higher
for poorest 20%
13
Uninsured by Gender 1.1 x higher
for men
1.2 x higher
for men
9
Uninsured Low-Income Children 17.9% 10.7% 50
Uninsured Low-Income Parents 44.8% 34.5% 50
Employer-Provided Insurance Coverage 53.2% 57.4% 41
Employee Share of Premium 25.6% 26.4% 18
Out-of-Pocket Medical Expenses 16.2%
   

Policy Ratings

Policy Priorities
0.25 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: 6 | Grade: A

Outcome Measure State Data US Data Rank
Early Childhood Education Enrollment 18.1% 28.2% 33
Math Proficiency - 8th Grade 45.6% 34.7% 5
Reading Proficiency - 8th Grade 41.5% 33.5% 5
High School Degree 92.3% 85.9% 1
Two-Year College Degree 36.6% 36.3% 23
Four-Year College Degree 28.2% 28.5% 22
Four-Year Degree by Race 1.8 x higher
for white adults
1.6 x higher
for white adults
38
Four-Year Degree by Income 3.4 x higher
for top 20%
4.6 x higher
for top 20%
7
Four-Year Degree by Gender 1.0 - same
for women and men
1.01 x higher
for men
Average College Graduate Debt $24,113 $26,600 22
College Graduates with Debt 65% 66% 35
Student Loan Default Rate 5.8% 13.4% 3
   
Additional Policies
State-Funded Head Start — No state supplement
Quality of State Pre-K Programs — No established state program
Kindergarten Standards — Half Day Kindergarten; no standards; no certificates or training required for teachers
State Financial Aid for Postsecondary Education — $142 per student; 75% need-based
TANF-Funded Workforce Training — 42.32% of funds spent on training
WIA-Funded Workforce Training — 42.3% 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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