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.

Ohio

Ohio

What Ohio Can Do

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

PROTECT HOMEOWNERS AND STABILIZE COMMUNITIES: To address soaring foreclosure rates and protect consumers from financial services that deplete wealth, Ohio should enact stronger consumer protection laws regulating mortgage servicers, payday lenders, rent-to-own stores, and paid tax preparation stores.

PROMOTE FINANCIAL SECURITY: To address high bankruptcy and asset poverty rates and to help residents build assets, Ohio should implement a state Earned Income Tax Credit and make the
Dependent Care Credit refundable, to supplement the earnings of low-income workers.

SUPPORT EARLY CHILDHOOD EDUCATION: To reduce the burden on family budgets from paying for decent child care, and to ensure all children have access to high-quality education from a young age, Ohio should devote sufficient funds toward developing a high-quality, and universally available, pre-K program.

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 29 $71,091 $88,803
Net Worth by Race 16 6.4^ 6.1^
Net Worth by Income 16 25.6^ 44.9^
Net Worth by Gender 10 1.3^ 1.2^
Asset Poverty Rate 29 22.6% 22.5%
Asset Poverty by Race 17 2.3^ 2.3^
Asset Poverty by Gender 7 1.2^ 1.2^
Extreme Asset Poverty Rate 40 15.7% 14.3%
Income Poverty Rate 32 13.0% 12.3%
Unbanked Households 32 28.7% 26.8%
Bankruptcy Rate
(per 1,000 people)		 46 4.3 2.7
Median Credit Card Debt 35 $3,083 $2,960
Median Installment Debt 7 $14,018 $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
100 Lifting Asset Limits in Public Benefit Programs
100 Payday Lending Protections
 

Additional Policies
State Minimum Wage – $7.30/hr; Not indexed to inflation
Income Tax Threshold – $14,400
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 48 15.2% 17.7%
Private Loans to Small Business 48 $1,655 $2,116
Microenterprise Ownership Rate 48 13.9% 16.5%
Women's Business Ownership Rate 40 3.9% 4.4%
Minority Business Ownership Rate 33 3.4% 4.9%
Women Owned Business Value 25 $140,556 $144,969
Minority Owned Business Value 21 $174,994 $162,824
Employee Ownership
(per 1,000 firms)		 10 1.8 1.4
Business Creation Rate
(per 1,000 workers)		 46 7.1 9.6
Employment Growth 44 -1.0% -0.5%
Annual Unemployment Rate 42 6.5% 5.8%
Low-Wage Jobs 23 21.4% 22.2%
Average Annual Pay 12 $42,617 $44,458
Retirement Plan Participation 7 54.0% 47.4%
Employers Offering Health Insurance 12 61.3% 55.8%

Policy Ratings

Policy Priority
50 State Microenterprise Support
 

Additional Policies
Workers Compensation Coverage – 98.6% of workers covered
Unemployment Benefit Level – 39.5% of average weekly wage
Unemployment Benefit Eligibility – Uses alternative base period; Not all criteria met
Family Leave Benefits – No state policy
Incentives for Employee Ownership – WIA funds support feasibility studies; Direct state assistance; Has employee ownership center; 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: D

Outcome Measure

Rank

State Data

US Data
Homeownership Rate 22 66.9% 64.2%
Homeownership by Race 43 1.8^ 1.5^
Homeownership by Income 44 3.3^ 2.7^
Homeownership by Gender 50 1.2^ 1.2^
Foreclosure Rate 49 3.9% 3.0%
High-Cost Mortgage Loans 23 16.8% 17.5%
Mortgage Debt as %
of Home Value		 38 87.0% 76.9%
Affordability of Homes 16 2.8* 3.5*
Housing Cost Burden - Homeowners 15 30.7% 37.5%
Housing Cost Burden - Renters 34 45.1% 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
75 Housing Trust Fund
75 First-time Homebuyer Assistance
 

Additional Policies
Affordable Rental Housing Preservation – 47.4% of LIHTC for preservation
Property Tax Relief – No state policy
Foreclosure Protections – Homeowner access to judicial review; Loss mitigation required; 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: A

Outcome Measure

Rank

State Data

US Data
Uninsured Rate 12 12.4% 17.2%
Uninsured by Race 14 1.7^ 2.2^
Uninsured by Income 40 4.0^ 3.6^
Uninsured by Gender 18 1.1^ 1.0^
Uninsured Low-Income Children 17 12.3% 18.3%
Uninsured Low-Income Parents 10 24.0% 37.2%
Employees Insured by Employer 14 66.4% 60.9%
Employee Share of Premium 11 23.0% 25.0%
Out-of-Pocket Medical Expenses 15 18.0% 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 – No high risk pool
COBRA Coverage of Small-Business Employees – COBRA expansion for 6 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 29 21.0% 20.3%
Math Proficiency - 8th grade 17 35.4% 31.0%
Reading Proficiency - 8th grade 11 35.9% 29.2%
High School Degree 21 90.6% 87.6%
Two-Year College Degree 39 55.3% 58.7%
Four-Year College Degree 36 26.8% 29.9%
Four-Year Degree by Race 8 1.3^ 1.5^
Four-Year Degree by Income 40 6.0^ 4.9^
Four-Year Degree by Gender 10 1.0^ 1.0^
Average College Graduate Debt 38 $21,952 $20,098
College Graduates with Debt 39 66.9% 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
50 Access to Quality K-12 Education
0 College Savings Incentives
 

Additional Policies
Postsecondary Education Financial Aid – $400.81 per undergraduate student
State-Funded Head Start – No state supplement
WIA-Funded Workforce Training – 57.1% of participants received training
TANF-Funded Workforce Training – 0.67% 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, multiple models
Community Investment for State-Chartered Banks – No