Texas
What Texas Can Do
There are many policies that Texas could enact to improve its climate for asset building and preservation:
IMPROVE ACCESS TO HEALTH INSURANCE: To address its high rate of uninsured residents, Texas should increase enrollment of eligible Texans in public health insurance by simplifying enrollment and renewal procedures, and increase eligibility of working poor parents for public insurance.
CURB PREDATORY AND UNLICENSED LENDING: To address financial abuses, the state should provide oversight for credit service organizations offering payday and automobile title loans and enforce sound underwriting standards for all credit and mortgage products.
INVEST IN ECONOMIC PROSPERITY INITIATIVES: To address its low net worth and high asset poverty rate, Texas should invest in activities to promote financial security such as Children’s Savings Accounts, Individual Development Accounts, and Community Tax Centers.
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: C |
Outcome Measure |
Rank |
State Data |
US Data |
| Net Worth |
48 |
$45,434 |
$88,803 |
| Net Worth by Race |
9 |
4.6^ |
6.1^ |
| Net Worth by Income |
9 |
16.9^ |
44.9^ |
| Net Worth by Gender |
24 |
1.5^ |
1.2^ |
| Asset Poverty Rate |
37 |
24.8% |
22.5% |
| Asset Poverty by Race |
8 |
1.9^ |
2.3^ |
| Asset Poverty by Gender |
12 |
1.3^ |
1.2^ |
| Extreme Asset Poverty Rate |
29 |
14.7% |
14.3% |
| Income Poverty Rate |
41 |
14.6% |
12.3% |
| Unbanked Households |
41 |
33.1% |
26.8% |
Bankruptcy Rate
(per 1,000 people) |
12 |
1.7 |
2.7 |
| Median Credit Card Debt |
19 |
$2,714 |
$2,960 |
| Median Installment Debt |
46 |
$16,289 |
$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. |
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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 |
14 |
18.7% |
17.7% |
| Private Loans to Small Business |
31 |
$1,977 |
$2,116 |
| Microenterprise Ownership Rate |
11 |
17.6% |
16.5% |
| Women's Business Ownership Rate |
26 |
4.3% |
4.4% |
| Minority Business Ownership Rate |
11 |
4.7% |
4.9% |
| Women Owned Business Value |
26 |
$140,427 |
$144,969 |
| Minority Owned Business Value |
34 |
$143,731 |
$162,824 |
Employee Ownership
(per 1,000 firms) |
24 |
1.3 |
1.4 |
Business Creation Rate
(per 1,000 workers) |
41 |
7.7 |
9.6 |
| Employment Growth |
5 |
1.4% |
-0.5% |
| Annual Unemployment Rate |
20 |
4.9% |
5.8% |
| Low-Wage Jobs |
41 |
32.2% |
22.2% |
| Average Annual Pay |
2 |
$48,884 |
$44,458 |
| Retirement Plan Participation |
48 |
42.0% |
47.4% |
| Employers Offering Health Insurance |
40 |
49.1% |
55.8% |
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Is the opportunity to purchase and maintain a home available to all those who choose to pursue it?
Is there broad access to health insurance as protection against income interruption and asset depletion from medical bills?
Do residents have access to the education and training they need to get ahead?
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