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Asset Poverty Rate

Definition
Percentage of households without sufficient net worth to subsist at the poverty level for three months in the absence of income, 2006.

Description
Given the importance of assets for household economic self-sufficiency, this measure expands the notion of poverty to include a minimum threshold of wealth needed for both security and mobility. Three months is a conservative cushion for a family that loses its income. Even with this conservative definition, asset poverty exceeds income poverty in all 50 states and the District of Columbia.

Source
Survey of Income and Program Participation. (2004 Panel, Wave 6). Washington, DC: U.S. Department of Commerce, Census Bureau. Calculations by Beacon Economics.

"-" = No data available