To View Data:

State Profile pdf

Asset Poverty Profile pdf

Press Release pdf

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.

Missouri

Missouri

What Missouri Can Do

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

Encourage Asset Building: To increase net worth and reduce high bankruptcy rates, Missouri should adopt a state Earned Income Tax Credit to help residents boost financial security and regulate payday lending practices to protect assets.

Prioritize Education: To improve primary and secondary education outcomes and increase access to higher education opportunities, Missouri should increase K-12 funding in high-poverty school districts and incentivize college savings through matched 529 accounts.

Curb Predatory Mortgage Lending: To decrease the burden of high mortgage debt on households, the state should curb predatory mortgage lending by enforcing sound underwriting standards and banning prepayment penalties.

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: C

Outcome Measure

Rank

State Data

US Data
Net Worth 28 $71,589 $88,803
Net Worth by Race 14  5.5^   6.1^ 
Net Worth by Income 15  24.7^   44.9^ 
Net Worth by Gender 35  1.7^   1.2^ 
Asset Poverty Rate 24 21.8% 22.5%
Asset Poverty by Race 10  2.0^   2.3^ 
Asset Poverty by Gender 33  1.6^   1.2^ 
Extreme Asset Poverty Rate 28 14.7% 14.3%
Income Poverty Rate 34 13.1% 12.3%
Unbanked Households 28 25.0% 26.8%
Bankruptcy Rate
(per 1,000 people)		 41 3.6 2.7
Median Credit Card Debt 14 $2,653 $2,960
Median Installment Debt 5 $14,001 $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
50 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 – $7.05/hr; Indexed to inflation
Income Tax Threshold – $13,900
Financial Education in Schools – Included in curriculum standards; Standards required to be implemented; Required for graduation; Testing required

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: D

Outcome Measure

Rank

State Data

US Data
Small Business Ownership Rate 36 16.6% 17.7%
Private Loans to Small Business 42 $1,767 $2,116
Microenterprise Ownership Rate 36 15.4% 16.5%
Women's Business Ownership Rate 35 4.1% 4.4%
Minority Business Ownership Rate 32 3.4% 4.9%
Women Owned Business Value 8 $154,403 $144,969
Minority Owned Business Value 35 $141,948 $162,824
Employee Ownership
(per 1,000 firms)		 9 2.0 1.4
Business Creation Rate
(per 1,000 workers)		 47 7.1 9.6
Employment Growth 48 -1.4% -0.5%
Annual Unemployment Rate 35 6.1% 5.8%
Low-Wage Jobs 38 28.6% 22.2%
Average Annual Pay 15 $41,787 $44,458
Retirement Plan Participation 9 53.8% 47.4%
Employers Offering Health Insurance 23 55.4% 55.8%

Policy Ratings

Policy Priority
75 State Microenterprise Support
 

Additional Policies
Workers Compensation Coverage – 93.8% of workers covered
Unemployment Benefit Level – 32.6% of average weekly wage
Unemployment Benefit Eligibility – No expansion of coverage
Family Leave Benefits – No state policy
Incentives for Employee Ownership – ESOPs excluded from securities regulations; WIA funds support feasibility studies; 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 15 68.2% 64.2%
Homeownership by Race 30  1.6^   1.5^ 
Homeownership by Income 26  2.7^   2.7^ 
Homeownership by Gender 40  1.2^   1.2^ 
Foreclosure Rate 14 1.5% 3.0%
High-Cost Mortgage Loans 43 20.9% 17.5%
Mortgage Debt as %
of Home Value		 36 85.2% 76.9%
Affordability of Homes 13  2.7*   3.5* 
Housing Cost Burden - Homeowners 12 29.1% 37.5%
Housing Cost Burden - Renters 27 42.9% 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
25 Predatory Mortgage Lending Protections
50 Housing Trust Fund
25 First-time Homebuyer Assistance
 

Additional Policies
Affordable Rental Housing Preservation – 24.8% of LIHTC for preservation
Property Tax Relief – Circuit breaker only for elderly & disabled homeowners & renters
Foreclosure Protections – 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: B

Outcome Measure

Rank

State Data

US Data
Uninsured Rate 22 14.8% 17.2%
Uninsured by Race 7  1.6^   2.2^ 
Uninsured by Income 30  3.8^   3.6^ 
Uninsured by Gender 2  1.0^   1.0^ 
Uninsured Low-Income Children 24 14.4% 18.3%
Uninsured Low-Income Parents 26 34.7% 37.2%
Employees Insured by Employer 27 62.4% 60.9%
Employee Share of Premium 13 23.0% 25.0%
Out-of-Pocket Medical Expenses 20 19.5% 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
25 Access to Health Insurance
 

Additional Policies
Insuring High Risk Individuals – Has high risk pool
COBRA Coverage of Small-Business Employees – COBRA expansion for 9 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 32 20.1% 20.3%
Math Proficiency - 8th grade 33 29.9% 31.0%
Reading Proficiency - 8th grade 26 31.0% 29.2%
High School Degree 28 89.5% 87.6%
Two-Year College Degree 35 57.5% 58.7%
Four-Year College Degree 31 27.8% 29.9%
Four-Year Degree by Race 13  1.4^   1.5^ 
Four-Year Degree by Income 31  5.1^   4.9^ 
Four-Year Degree by Gender 38  1.1^   1.0^ 
Average College Graduate Debt 23  $18,928  $20,098
College Graduates with Debt 37 65.3% 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
50 Early Childhood Education
25 Access to Quality K-12 Education
0 College Savings Incentives
 

Additional Policies
Postsecondary Education Financial Aid – $106.10 per undergraduate student
State-Funded Head Start – No state supplement
WIA-Funded Workforce Training – 39.5% of participants received training
TANF-Funded Workforce Training – No funds spent on training

Policy Ratings

Additional Policies
State Support for CDFIs – No
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