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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.

Maryland

Maryland

What Maryland Can Do

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

Encourage Savings: To increase net worth and decrease the amount of debt households are burdened with, Maryland should match the deposits of those who save in Individual Development Accounts or 529 education savings accounts.

Increase Access to Health Insurance: To decrease the number of low-income and minority uninsured Maryland residents, the state should expand coverage to more low-income people by raising eligibility limits.

Support Microenterprise: To offset its negative rate of job growth, Maryland should support entrepreneurs by funding organizations that provide technical assistance and loans to microenterprises.

Overall Grade: B

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: C

Outcome Measure

Rank

State Data

US Data
Net Worth 5 $163,788 $88,803
Net Worth by Race 8 4.6^ 6.1^
Net Worth by Income 30 171.4^ 44.9^
Net Worth by Gender 25 1.6^ 1.2^
Asset Poverty Rate 8 18.6% 22.5%
Asset Poverty by Race 18 2.4^ 2.3^
Asset Poverty by Gender 39 2.1^ 1.2^
Extreme Asset Poverty Rate 20 13.4% 14.3%
Income Poverty Rate 2 8.0% 12.3%
Unbanked Households 22 22.1% 26.8%
Bankruptcy Rate
(per 1,000 people)		 28 2.4 2.7
Median Credit Card Debt 47 $3,391 $2,960
Median Installment Debt 45 $16,250 $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
75 State Earned Income Tax Credit
75 Lifting Asset Limits in Public Benefit Programs
100 Payday Lending Protections
 

Additional Policies
State Minimum Wage – $7.25/hr; Not indexed to inflation
Income Tax Threshold – $29,900
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: B

Outcome Measure

Rank

State Data

US Data
Small Business Ownership Rate 24 17.6% 17.7%
Private Loans to Small Business 29 $2,027 $2,116
Microenterprise Ownership Rate 21 16.3% 16.5%
Women's Business Ownership Rate 13 4.9% 4.4%
Minority Business Ownership Rate 7 5.5% 4.9%
Women Owned Business Value 35 $126,141 $144,969
Minority Owned Business Value 41 $126,440 $162,824
Employee Ownership
(per 1,000 firms)		 25 1.3 1.4
Business Creation Rate
(per 1,000 workers)		 29 9.4 9.6
Employment Growth 35 -0.5% -0.5%
Annual Unemployment Rate 13 4.4% 5.8%
Low-Wage Jobs 14 17.5% 22.2%
Average Annual Pay 31 $38,424 $44,458
Retirement Plan Participation 16 51.5% 47.4%
Employers Offering Health Insurance 4 65.7% 55.8%

Policy Ratings

Policy Priority
25 State Microenterprise Support
 

Additional Policies
Workers Compensation Coverage – 95.1% of workers covered
Unemployment Benefit Level – 33.7% of average weekly wage
Unemployment Benefit Eligibility – Part-time workers covered; Benefits for compelling family reasons; Has self employment assistance program; Not all criteria met
Family Leave Benefits – No state policy
Incentives for Employee Ownership – ESOPs excluded from securities regulations; WIA funds support feasibility studies; 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: C

Outcome Measure

Rank

State Data

US Data
Homeownership Rate 16 68.1% 64.2%
Homeownership by Race 17 1.4^ 1.5^
Homeownership by Income 33 2.9^ 2.7^
Homeownership by Gender 10 1.1^ 1.2^
Foreclosure Rate 35 2.2% 3.0%
High-Cost Mortgage Loans 36 18.4% 17.5%
Mortgage Debt as %
of Home Value		 13 67.1% 76.9%
Affordability of Homes 37 4.6* 3.5*
Housing Cost Burden - Homeowners 34 37.9% 37.5%
Housing Cost Burden - Renters 38 46.3% 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
100 Predatory Mortgage Lending Protections
75 Housing Trust Fund
75 First-time Homebuyer Assistance
 

Additional Policies
Affordable Rental Housing Preservation – 22.1% of LIHTC for preservation
Property Tax Relief – Circuit breaker for all homeowners & renters; Tax deferment
Foreclosure Protections – Protects pre-foreclosure rights; Protects against rescue scams; Not all criteria met
Resident Ownership of Manufactured Housing Communities – No protections for homeowners

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

Outcome Rankings

Issue Area Grade: C

Outcome Measure

Rank

State Data

US Data
Uninsured Rate 26 15.5% 17.2%
Uninsured by Race 39 2.4^ 2.2^
Uninsured by Income 49 4.6^ 3.6^
Uninsured by Gender 28 1.2^ 1.0^
Uninsured Low-Income Children 39 19.4% 18.3%
Uninsured Low-Income Parents 36 38.7% 37.2%
Employees Insured by Employer 7 69.1% 60.9%
Employee Share of Premium 33 27.0% 25.0%
Out-of-Pocket Medical Expenses 7 16.6% 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
50 Access to Health Insurance
 

Additional Policies
Insuring High Risk Individuals – Has high risk pool
COBRA Coverage of Small-Business Employees – COBRA expansion for 18 months

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

Outcome Rankings

Issue Area Grade: A

Outcome Measure

Rank

State Data

US Data
Head Start Coverage 40 18.3% 20.3%
Math Proficiency - 8th grade 14 36.5% 31.0%
Reading Proficiency - 8th grade 21 33.2% 29.2%
High School Degree 24 90.5% 87.6%
Two-Year College Degree 11 63.9% 58.7%
Four-Year College Degree 3 37.9% 29.9%
Four-Year Degree by Race 15 1.4^ 1.5^
Four-Year Degree by Income 19 4.1^ 4.9^
Four-Year Degree by Gender 24 1.0^ 1.0^
Average College Graduate Debt 10 $17,243 $20,098
College Graduates with Debt 16 55.3% 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
75 Early Childhood Education
25 Access to Quality K-12 Education
0 College Savings Incentives
 

Additional Policies
Postsecondary Education Financial Aid – $465.18 per undergraduate student
State-Funded Head Start – $3,000,000 in supplemental funds
WIA-Funded Workforce Training – 39.6% of participants received training
TANF-Funded Workforce Training – 0.29% of funds spent on training

Policy Ratings

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