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The Scorecard assesses the 50 states and the District of Columbia on 92 outcome and policy measures. These measures are grouped into five issue areas: Financial Assets & Income, Businesses & Jobs, Housing & Homeownership, Health Care, and Education. All the data is collected from the latest available data sources and compiled by CFED. For more on the methodology, click here.

California

California

What California Can Do

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

Encourage Homeownership: To remedy low homeownership and high foreclosure rates, California should provide additional assistance to first-time homebuyers and safeguard them by enforcing sound mortgage underwriting standards and banning prepayment penalties.

Improve Health Insurance Access: To lower its high rate of uninsurance, California should expand coverage to more parents and childless adults, defray costs for small businesses to insure employees and simplify Children's Health Insurance Program procedures.

Encourage Asset Building: To lower high rates of asset poverty, California should ensure families have income to save by enacting an Earned Income Tax Credit; encourage savings by supporting Individual Development Accounts; and remove savings disincentives by eliminating asset tests in public benefit programs.

Overall Grade: C

Select a tab to see how your state fared in each issue area or a measure to see the definition, source and complete data.
  • Financial Assets
    & Income
  • Businesses
    & Jobs
  • Housing
    & Homeownership
  • Health Care
  • Education
  • Community Investment &
    Accountability Policies

Are there widespread opportunities for wealth creation and protection, particularly for low-income residents?

Outcome Rankings

Issue Area Grade: B

Outcome Measure

Rank

State Data

US Data
Net Worth 4 $173,962 $88,803
Net Worth by Race 15 6.0^ 6.1^
Net Worth by Income 29 89.1^ 44.9^
Net Worth by Gender 18 1.4^ 1.2^
Asset Poverty Rate 39 25.0% 22.5%
Asset Poverty by Race 12 2.1^ 2.3^
Asset Poverty by Gender 8 1.2^ 1.2^
Extreme Asset Poverty Rate 32 15.2% 14.3%
Income Poverty Rate 19 11.0% 12.3%
Unbanked Households 29 25.8% 26.8%
Bankruptcy Rate
(per 1,000 people)		 14 1.9 2.7
Median Credit Card Debt 38 $3,142 $2,960
Median Installment Debt 20 $14,732 $14,887

^ This is a ratio of disparity that measures the difference in outcomes between two populations by: race (white and minority), income (high and low income groups), or gender (male and female). A ratio of 1 indicates perfect equality; the higher the ratio, the greater the inequality.

Policy Ratings

Policy Priorities
0 State IDA Program Support
0 State Earned Income Tax Credit
50 Lifting Asset Limits in Public Benefit Programs
0 Payday Lending Protections
 

Additional Policies
State Minimum Wage – $8.00/hr; Not indexed to inflation
Income Tax Threshold – $43,700
Financial Education in Schools – Not required in school curriculum

Is the opportunity to grow a business or get a job that pays a sufficient wage with benefits available to all those who choose to pursue it?

Outcome Rankings

Issue Area Grade: A

Outcome Measure

Rank

State Data

US Data
Small Business Ownership Rate 13 18.8% 17.7%
Private Loans to Small Business 6 $2,486 $2,116
Microenterprise Ownership Rate 13 17.5% 16.5%
Women's Business Ownership Rate 10 5.0% 4.4%
Minority Business Ownership Rate 8 5.1% 4.9%
Women Owned Business Value 6 $158,513 $144,969
Minority Owned Business Value 9 $206,483 $162,824
Employee Ownership
(per 1,000 firms)		 15 1.7 1.4
Business Creation Rate
(per 1,000 workers)		 28 9.7 9.6
Employment Growth 30 -0.3% -0.5%
Annual Unemployment Rate 49 7.2% 5.8%
Low-Wage Jobs 14 17.5% 22.2%
Average Annual Pay 41 $35,366 $44,458
Retirement Plan Participation 47 43.7% 47.4%
Employers Offering Health Insurance 17 56.9% 55.8%

Policy Ratings

Policy Priority
75 State Microenterprise Support
 

Additional Policies
Workers Compensation Coverage – 98.4% of workers covered
Unemployment Benefit Level – 31.4% of average weekly wage
Unemployment Benefit Eligibility – Part-time workers covered; Benefits for compelling family reasons; Not all criteria met
Family Leave Benefits – Temporary disability leave; Paid family leave; Expanded definition of family; Not all criteria met
Incentives for Employee Ownership – ESOPs excluded from securities regulations; Direct state assistance; Not all criteria met

Is the opportunity to purchase and maintain a home available to all those who choose to pursue it?

Outcome Rankings

Issue Area Grade: F

Outcome Measure

Rank

State Data

US Data
Homeownership Rate 49 54.2% 64.2%
Homeownership by Race 3 1.3^ 1.5^
Homeownership by Income 46 3.6^ 2.7^
Homeownership by Gender 26 1.2^ 1.2^
Foreclosure Rate 48 3.9% 3.0%
High-Cost Mortgage Loans 17 15.1% 17.5%
Mortgage Debt as %
of Home Value		 34 84.2% 76.9%
Affordability of Homes 43 8.9* 3.5*
Housing Cost Burden - Homeowners 51 53.0% 37.5%
Housing Cost Burden - Renters 50 51.2% 45.6%

^ This is a ratio of disparity that measures the difference in outcomes between two populations by: race (white and minority), income (high and low income groups), or gender (male and female). A ratio of 1 indicates perfect equality; the higher the ratio, the greater the inequality.

* This is a ratio of median home value compared to annual median family income, e.g. a ratio of 4 means housing values are 4 times higher than income.

Policy Ratings

Policy Priority
50 Predatory Mortgage Lending Protections
0 Housing Trust Fund
25 First-time Homebuyer Assistance
 

Additional Policies
Affordable Rental Housing Preservation – 30.9% of LIHTC for preservation
Property Tax Relief – Tax deferment
Foreclosure Protections – Loss mitigation required; Protects pre-foreclosure rights; Protects against rescue scams; Not all criteria met
Resident Ownership of Manufactured Housing Communities – 30 days closure notice; Broadly applicable; Not all criteria met

Is there broad access to health insurance as protection against income interruption and asset depletion from medical bills?

Outcome Rankings

Issue Area Grade: D

Outcome Measure

Rank

State Data

US Data
Uninsured Rate 43 20.4% 17.2%
Uninsured by Race 33 2.2^ 2.2^
Uninsured by Income 17 3.1^ 3.6^
Uninsured by Gender 39 1.3^ 1.0^
Uninsured Low-Income Children 37 19.3% 18.3%
Uninsured Low-Income Parents 41 41.1% 37.2%
Employees Insured by Employer 45 54.7% 60.9%
Employee Share of Premium 36 27.0% 25.0%
Out-of-Pocket Medical Expenses 13 17.9% 19.0%

^ This is a ratio of disparity that measures the difference in outcomes between two populations by: race (white and minority), income (high and low income groups), or gender (male and female). A ratio of 1 indicates perfect equality; the higher the ratio, the greater the inequality.

Policy Ratings

Policy Priorities
0 Access to Health Insurance
 

Additional Policies
Insuring High Risk Individuals – Has high risk pool
COBRA Coverage of Small-Business Employees – COBRA expansion for 36 months

Do residents have access to the education and training they need to get ahead?

Outcome Rankings

Issue Area Grade: C

Outcome Measure

Rank

State Data

US Data
Head Start Coverage 31 20.5% 20.3%
Math Proficiency - 8th grade 41 23.9% 31.0%
Reading Proficiency - 8th grade 45 21.5% 29.2%
High School Degree 50 82.0% 87.6%
Two-Year College Degree 26 59.6% 58.7%
Four-Year College Degree 18 31.2% 29.9%
Four-Year Degree by Race 40 1.8^ 1.5^
Four-Year Degree by Income 16 4.0^ 4.9^
Four-Year Degree by Gender 6 1.0^ 1.0^
Average College Graduate Debt 9 $17,215 $20,098
College Graduates with Debt 5 45.3% 59.0%

^ This is a ratio of disparity that measures the difference in outcomes between two populations by: race (white and minority), income (high and low income groups), or gender (male and female). A ratio of 1 indicates perfect equality; the higher the ratio, the greater the inequality.

Policy Ratings

Policy Priorities
25 Early Childhood Education
0 Access to Quality K-12 Education
0 College Savings Incentives
 

Additional Policies
Postsecondary Education Financial Aid – $508.58 per undergraduate student
State-Funded Head Start – No state supplement
WIA-Funded Workforce Training – 49.7% of participants received training
TANF-Funded Workforce Training – 1.07% of funds spent on training

Policy Ratings

Additional Policies
State Support for CDFIs – Yes
Tax Expenditure Transparency – Biennial report online; Covers major taxes
Impact Analysis of Tax Law Changes – Yes, multiple models
Community Investment for State-Chartered Banks – No