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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.

North Carolina

North Carolina

What North Carolina Can Do

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

STRENGTHEN FINANCIAL SECURITY: To address high rates of asset poverty and low net worth, North Carolina should invest in efforts to bank the unbanked such as Bank On North Carolina; eliminate asset limits in food and income support programs; and expand support to working families by increasing the N.C. Earned
Income Tax Credit (EITC) to 15% or more of the federal EITC.

STABILIZE AFFORDABLE AND ACCESSIBLE HOUSING: North Carolina should expand its successful Housing 400 program for people with disabilities, continue to fully fund the foreclosure prevention program, and invest $50 million annually in its Housing Trust Fund.

ENCOURAGE ENTREPRENEURS: To increase rates of women and minority business ownership, North Carolina should expand funding and training for microenterprise development; support CDFIs and other vehicles that provide business expansion loans; and allocate at least 10% of state purchases to minority, women or disabled-owned business.

Overall Grade: D

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: D

Outcome Measure

Rank

State Data

US Data
Net Worth 40 $55,913 $88,803
Net Worth by Race 26 14.3^ 6.1^
Net Worth by Income 20 37.9^ 44.9^
Net Worth by Gender 13 1.3^ 1.2^
Asset Poverty Rate 41 25.8% 22.5%
Asset Poverty by Race 27 2.8^ 2.3^
Asset Poverty by Gender 3 1.1^ 1.2^
Extreme Asset Poverty Rate 35 15.3% 14.3%
Income Poverty Rate 39 14.1% 12.3%
Unbanked Households 37 30.4% 26.8%
Bankruptcy Rate
(per 1,000 people)		 20 2.1   2.7
Median Credit Card Debt 42 $3,194 $2,960
Median Installment Debt 25 $14,878 $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
50 State Earned Income Tax Credit
25 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 – $15,300
Financial Education in Schools – Included in curriculum standards; Standards required to be implemented; Not all criteria met

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 26 17.4% 17.7%
Private Loans to Small Business 4 $2,517 $2,116
Microenterprise Ownership Rate 23 16.2% 16.5%
Women's Business Ownership Rate 36 4.1% 4.4%
Minority Business Ownership Rate 35 3.2% 4.9%
Women Owned Business Value 9 $153,807 $144,969
Minority Owned Business Value 44 $116,598 $162,824
Employee Ownership
(per 1,000 firms)		 46 0.9   1.4
Business Creation Rate
(per 1,000 workers)		 21 10.1   9.6
Employment Growth 42 -0.8% -0.5%
Annual Unemployment Rate 38 6.3% 5.8%
Low-Wage Jobs 29 24.4% 22.2%
Average Annual Pay 23 $39,990 $44,458
Retirement Plan Participation 44 44.4% 47.4%
Employers Offering Health Insurance 19 56.6% 55.8%

Policy Ratings

Policy Priority
50 State Microenterprise Support
 

Additional Policies
Workers Compensation Coverage – 96.1% of workers covered
Unemployment Benefit Level – 38.4% of average weekly wage
Unemployment Benefit Eligibility – Uses alternative base period; Part-time workers covered; Benefits for compelling family reasons; Not all criteria met
Family Leave Benefits – No state policy
Incentives for Employee Ownership – 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 35 64.9% 64.2%
Homeownership by Race 32 1.6^ 1.5^
Homeownership by Income 22 2.6^ 2.7^
Homeownership by Gender 36 1.2^ 1.2^
Foreclosure Rate 9 1.4% 3.0%
High-Cost Mortgage Loans 16 15.1% 17.5%
Mortgage Debt as %
of Home Value		 35 84.8% 76.9%
Affordability of Homes 19 3.0* 3.5*
Housing Cost Burden - Homeowners 15 30.7% 37.5%
Housing Cost Burden - Renters 25 42.7% 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
75 Predatory Mortgage Lending Protections
25 Housing Trust Fund
75 First-time Homebuyer Assistance
 

Additional Policies
Affordable Rental Housing Preservation – 19.9% ofLIHTC for preservation
Property Tax Relief – No state policy
Foreclosure Protections – Protects pre-foreclosure rights; Not all criteria met
Resident Ownership of Manufactured Housing Communities – Tax Incentive; 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 40 19.5% 17.2%
Uninsured by Race 32 2.1^ 2.2^
Uninsured by Income 15 3.1^ 3.6^
Uninsured by Gender 25 1.2^ 1.0^
Uninsured Low-Income Children 40 19.9% 18.3%
Uninsured Low-Income Parents 38 39.4% 37.2%
Employees Insured by Employer 41 57.4% 60.9%
Employee Share of Premium 28 26.0% 25.0%
Out-of-Pocket Medical Expenses 24 21.7% 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 riskpool
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: D

Outcome Measure

Rank

State Data

US Data
Head Start Coverage 48 14.0% 20.3%
Math Proficiency - 8th grade 24 34.5% 31.0%
Reading Proficiency - 8th grade 32 28.0% 29.2%
High School Degree 37 86.6% 87.6%
Two-Year College Degree 33 57.6% 58.7%
Four-Year College Degree 28 27.9% 29.9%
Four-Year Degree by Race 33 1.6^ 1.5^
Four-Year Degree by Income 43 6.4^ 4.9^
Four-Year Degree by Gender 40 1.1^ 1.0^
Average College Graduate Debt 7 $16,888 $20,098
College Graduates with Debt 22 58.9% 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
0 Access to Quality K-12 Education
0 College Savings Incentives
 

Additional Policies
Postsecondary Education Financial Aid – $486.55 per undergraduate student
State-Funded Head Start – No state supplement
WIA-Funded Workforce Training – 79.0% of participants received training
TANF-Funded Workforce Training – 0.42% of 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, representative taxpayer model
Community Investment for State-Chartered Banks – No