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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.

Oklahoma

Oklahoma

What Oklahoma Can Do

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

PROMOTE ASSET BUILDING: To address the low average net worth and high rates of income poverty, Oklahoma should fund Individual Development Account programs to help its low-income population build assets.

IMPROVE EDUCATION: To improve its below-average educational outcomes, Oklahoma should increase funding to schools, especially in high-poverty areas, and match savings for college in 529 accounts.

PROTECT ASSETS: To help households keep more assets for living expenses and savings, Oklahoma should limit high interest rates and other harmful practices of payday and other short-term lending.

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 44 $51,488 $88,803
Net Worth by Race 24 10.0^ 6.1^
Net Worth by Income 19 33.9^ 44.9^
Net Worth by Gender 12 1.3^ 1.2^
Asset Poverty Rate 30 22.7% 22.5%
Asset Poverty by Race 25 2.7^ 2.3^
Asset Poverty by Gender 31 1.5^ 1.2^
Extreme Asset Poverty Rate 13 12.0% 14.3%
Income Poverty Rate 44 15.4% 12.3%
Unbanked Households 35 29.4% 26.8%
Bankruptcy Rate
(per 1,000 people)		 30 2.4 2.7
Median Credit Card Debt 10 $2,499 $2,960
Median Installment Debt 26 $14,896 $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
50 State Earned Income Tax Credit
75 Lifting Asset Limits in Public Benefit Programs
0 Payday Lending Protections
 

Additional Policies
State Minimum Wage – $7.25/hr; Not indexed to inflation
Income Tax Threshold – $18,100
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: C

Outcome Measure

Rank

State Data

US Data
Small Business Ownership Rate 9 19.1% 17.7%
Private Loans to Small Business 45 $1,726 $2,116
Microenterprise Ownership Rate 9 17.8% 16.5%
Women's Business Ownership Rate 29 4.2% 4.4%
Minority Business Ownership Rate 16 4.3% 4.9%
Women Owned Business Value 36 $123,352 $144,969
Minority Owned Business Value 32 $145,012 $162,824
Employee Ownership
(per 1,000 firms)		 33 1.2 1.4
Business Creation Rate
(per 1,000 workers)		 31 8.9 9.6
Employment Growth 9 0.9% -0.5%
Annual Unemployment Rate 6 3.8% 5.8%
Low-Wage Jobs 41 32.2% 22.2%
Average Annual Pay 24 $39,954 $44,458
Retirement Plan Participation 24 50.2% 47.4%
Employers Offering Health Insurance 34 51.3% 55.8%

Policy Ratings

Policy Priority
50 State Microenterprise Support
 

Additional Policies
Workers Compensation Coverage – 96.9% of workers covered
Unemployment Benefit Level – 39.7% 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 – No state policy

Is the opportunity to purchase and maintain a home available to all those who choose to pursue it?

Outcome Rankings

Issue Area Grade: B

Outcome Measure

Rank

State Data

US Data
Homeownership Rate 37 64.0% 64.2%
Homeownership by Race 16 1.4^ 1.5^
Homeownership by Income 19 2.6^ 2.7^
Homeownership by Gender 33 1.2^ 1.2^
Foreclosure Rate 33 2.1% 3.0%
High-Cost Mortgage Loans 48 22.7% 17.5%
Mortgage Debt as %
of Home Value		 37 86.7% 76.9%
Affordability of Homes 2 2.2* 3.5*
Housing Cost Burden - Homeowners 7 26.2% 37.5%
Housing Cost Burden - Renters 10 38.8% 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
0 Predatory Mortgage Lending Protections
25 Housing Trust Fund
50 First-time Homebuyer Assistance
 

Additional Policies
Affordable Rental Housing Preservation – 16.3% of LIHTC for preservation
Property Tax Relief – Circuit breaker only for elderly & disabled homeowners & renters
Foreclosure Protections – Homeowner access to judicial review; Protects pre-foreclosure rights; 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 45 21.2% 17.2%
Uninsured by Race 6 1.6^ 2.2^
Uninsured by Income 5 2.8^ 3.6^
Uninsured by Gender 11 1.1^ 1.0^
Uninsured Low-Income Children 29 15.9% 18.3%
Uninsured Low-Income Parents 45 43.2% 37.2%
Employees Insured by Employer 44 55.0% 60.9%
Employee Share of Premium 45 29.0% 25.0%
Out-of-Pocket Medical Expenses 19 19.4% 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
75 Access to Health Insurance
 

Additional Policies
Insuring High Risk Individuals – Has 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 11 29.5% 20.3%
Math Proficiency - 8th grade 44 21.3% 31.0%
Reading Proficiency - 8th grade 37 26.1% 29.2%
High School Degree 34 87.8% 87.6%
Two-Year College Degree 38 55.5% 58.7%
Four-Year College Degree 42 24.6% 29.9%
Four-Year Degree by Race 28 1.6^ 1.5^
Four-Year Degree by Income 34 5.3^ 4.9^
Four-Year Degree by Gender 11 1.0^ 1.0^
Average College Graduate Debt 19 $18,597 $20,098
College Graduates with Debt 11 51.7% 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
100 Early Childhood Education
25 Access to Quality K-12 Education
0 College Savings Incentives
 

Additional Policies
Postsecondary Education Financial Aid – $367.20 per undergraduate student
State-Funded Head Start – $2,905,602 in supplemental funds
WIA-Funded Workforce Training – 2.1% 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, personal income tax model
Community Investment for State-Chartered Banks – No