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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.

Utah

Utah

What Utah Can Do

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

Help Residents Build Assets: To address its high asset poverty rate and low average net worth, Utah should ensure that families have income to save by enacting a state Earned Income Tax Credit; encourage savings by increasing funding for its Individual Development Account program; and remove disincentives to save for very low-income families by lifting the asset tests in public benefit programs.

Improve Access to Health Insurance: To reduce high rates of uninsurance for minorities and children, the state should expand coverage and simplify Children's Health Insurance Program procedures to maximize enrollment and retention.

Support Microenterprise: To increase the business ownership rate for women and minorities, Utah should fund organizations that can provide technical assistance and loans to microenterprises.

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: F

Outcome Measure

Rank

State Data

US Data
Net Worth 43 $52,139 $88,803
Net Worth by Race n/a n/a 6.1^
Net Worth by Income n/a n/a 44.9^
Net Worth by Gender 39 2.4^ 1.2^
Asset Poverty Rate 47 30.8% 22.5%
Asset Poverty by Race n/a n/a 2.3^
Asset Poverty by Gender 16 1.3^ 1.2^
Extreme Asset Poverty Rate 45 17.1% 14.3%
Income Poverty Rate 8 9.1% 12.3%
Unbanked Households 25 23.7% 26.8%
Bankruptcy Rate
(per 1,000 people)		 27 2.4 2.7
Median Credit Card Debt 31 $2,987 $2,960
Median Installment Debt 15 $14,556 $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
0 State Earned Income Tax Credit
50 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; Required for graduation; 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 18 17.9% 17.7%
Private Loans to Small Business 25 $2,057 $2,116
Microenterprise Ownership Rate 18 16.6% 16.5%
Women's Business Ownership Rate 33 4.2% 4.4%
Minority Business Ownership Rate 39 3.0% 4.9%
Women Owned Business Value 38 $122,127 $144,969
Minority Owned Business Value 27 $164,689 $162,824
Employee Ownership
(per 1,000 firms)		 18 1.5 1.4
Business Creation Rate
(per 1,000 workers)		 7 13.7 9.6
Employment Growth 7 1.2% -0.5%
Annual Unemployment Rate 5 3.4% 5.8%
Low-Wage Jobs 33 25.5% 22.2%
Average Annual Pay 33 $37,582 $44,458
Retirement Plan Participation 39 46.3% 47.4%
Employers Offering Health Insurance 45 46.1% 55.8%

Policy Ratings

Policy Priority
0 State Microenterprise Support
 

Additional Policies
Workers Compensation Coverage – 97.0% of workers covered
Unemployment Benefit Level – 43.8% of average weekly wage
Unemployment Benefit Eligibility – No expansion of coverage
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: A

Outcome Measure

Rank

State Data

US Data
Homeownership Rate 11 68.7% 64.2%
Homeownership by Race 21 1.5^ 1.5^
Homeownership by Income 36 3.1^ 2.7^
Homeownership by Gender 32 1.2^ 1.2^
Foreclosure Rate 10 1.4% 3.0%
High-Cost Mortgage Loans 19 15.6% 17.5%
Mortgage Debt as %
of Home Value		 12 66.6% 76.9%
Affordability of Homes 22 3.2* 3.5*
Housing Cost Burden - Homeowners 23 33.5% 37.5%
Housing Cost Burden - Renters 13 39.4% 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 – 27.7% of LIHTC for preservation
Property Tax Relief – Circuit breaker only for elderly homeowners & renters; Tax deferment
Foreclosure Protections – 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 31 16.3% 17.2%
Uninsured by Race 46 2.8^ 2.2^
Uninsured by Income 23 3.4^ 3.6^
Uninsured by Gender 14 1.1^ 1.0^
Uninsured Low-Income Children 43 21.0% 18.3%
Uninsured Low-Income Parents 21 32.1% 37.2%
Employees Insured by Employer 19 64.9% 60.9%
Employee Share of Premium 16 24.0% 25.0%
Out-of-Pocket Medical Expenses n/a n/a 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 6 months

Do residents have access to the education and training they need to get ahead?

Outcome Rankings

Issue Area Grade: B

Outcome Measure

Rank

State Data

US Data
Head Start Coverage 44 16.8% 20.3%
Math Proficiency - 8th grade 27 32.4% 31.0%
Reading Proficiency - 8th grade 28 30.1% 29.2%
High School Degree 16 91.4% 87.6%
Two-Year College Degree 7 65.5% 58.7%
Four-Year College Degree 21 29.9% 29.9%
Four-Year Degree by Race 43 1.9^ 1.5^
Four-Year Degree by Income 2 2.8^ 4.9^
Four-Year Degree by Gender 49 1.2^ 1.0^
Average College Graduate Debt 1 $13,266 $20,098
College Graduates with Debt 3 42.0% 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
0 Early Childhood Education
0 Access to Quality K-12 Education
75 College Savings Incentives
 

Additional Policies
Postsecondary Education Financial Aid – $53.38 per undergraduate student
State-Funded Head Start – No state supplement
WIA-Funded Workforce Training – 96.3% of participants received training
TANF-Funded Workforce Training – 2.43% of funds spent on training

Policy Ratings

Additional Policies
State Support for CDFIs – No
Tax Expenditure Transparency – Biennial report online; Doesn't cover all taxes
Impact Analysis of Tax Law Changes – Yes, personal income tax model
Community Investment for State-Chartered Banks – No