Illinois
What Illinois Can Do
There are many policies that Illinois could enact to improve its climate for asset building and preservation:
SUPPORT AFFORDABLE HOMEOWNERSHIP: To address the high housing cost for renters and homeowners, Illinois should provide additional assistance to first-time homeowners, safeguard homebuyers from high cost mortgage products, and encourage the development of affordable rental housing.
IMPROVE ACCESS TO HEALTH CARE: To address disparity in health care coverage across income groups, Illinois should expand public health care coverage for parents and adults without children, and help defray health insurance costs for small businesses and their employees.
CURB PREDATORY MORTGAGE LENDING: To reduce the number of homebuyers with high-cost mortgage loans and to lower the high foreclosure rate, Illinois should strengthen predatory lending and consumer protection statutes.
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 |
20 |
$94,399 |
$88,803 |
| Net Worth by Race |
19 |
6.8^ |
6.1^ |
| Net Worth by Income |
13 |
22.7^ |
44.9^ |
| Net Worth by Gender |
2 |
1.1^ |
1.2^ |
| Asset Poverty Rate |
25 |
21.8% |
22.5% |
| Asset Poverty by Race |
29 |
2.9^ |
2.3^ |
| Asset Poverty by Gender |
6 |
1.2^ |
1.2^ |
| Extreme Asset Poverty Rate |
25 |
14.1% |
14.3% |
| Income Poverty Rate |
22 |
11.4% |
12.3% |
| Unbanked Households |
24 |
23.5% |
26.8% |
Bankruptcy Rate
(per 1,000 people) |
39 |
3.1 |
2.7 |
| Median Credit Card Debt |
28 |
$2,911 |
$2,960 |
| Median Installment Debt |
14 |
$14,375 |
$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. |
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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: C |
Outcome Measure |
Rank |
State Data |
US Data |
| Small Business Ownership Rate |
32 |
16.9% |
17.7% |
| Private Loans to Small Business |
28 |
$2,034 |
$2,116 |
| Microenterprise Ownership Rate |
31 |
15.6% |
16.5% |
| Women's Business Ownership Rate |
22 |
4.4% |
4.4% |
| Minority Business Ownership Rate |
25 |
3.8% |
4.9% |
| Women Owned Business Value |
5 |
$164,450 |
$144,969 |
| Minority Owned Business Value |
22 |
$174,678 |
$162,824 |
Employee Ownership
(per 1,000 firms) |
13 |
1.7 |
1.4 |
Business Creation Rate
(per 1,000 workers) |
38 |
8.5 |
9.6 |
| Annual Employment Growth |
47 |
-1.3% |
-0.5% |
| Unemployment Rate |
42 |
6.5% |
5.8% |
| Low-Wage Jobs |
22 |
20.7% |
22.2% |
| Average Annual Pay |
3 |
$46,074 |
$44,458 |
| Retirement Plan Participation |
31 |
49.1% |
47.4% |
| Employers Offering Health Insurance |
24 |
55.3% |
55.8% |
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Is the opportunity to purchase and maintain a home available to all those who choose to pursue it?
Is there broad access to health insurance as protection against income interruption and asset depletion from medical bills?
Do residents have access to the education and training they need to get ahead?
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