Financial Statistics for Maryland

Maryland

 

The Assets & Opportunity Scorecard is a comprehensive look at Americans’ financial security today and their opportunities to create a more prosperous future. It assesses the 50 states and the District of Columbia on 130 outcome and policy measures, which describe how well residents are faring and what states are doing to help them build and protect assets.  The annual CFED Assets and Opportunities Scorecard, released January 29, 2016, enables states to benchmark their outcomes and policies against other states in five issue areas: Financial Assets & Income, Businesses & Jobs, Housing & Homeownership, Health Care, and Education.

OUTCOME RANKINGS
Issue Area Rank: 22 | GRADE C
Outcome Measure State Data US Data Rank
Income Poverty Rate 9.7% 14.5% 3
Asset Poverty Rate 23.0% 25.4%
Asset Poverty by Race 2.3 x higher
for HHs
of color
2.2 x higher
for HHs
of color
Asset Poverty by Gender 1.08 x higher
for single men
1.15 x higher
for single women
Asset Poverty by Family Structure 2.3 x higher
for 1-parent HHs
2.2 x higher
for 1-parent HHs
Liquid Asset Poverty Rate 34.8% 43.5% 7
Liquid Asset Poverty by Race 2 x higher
for HHs
of color
1.7 x higher
for HHs
of color
Liquid Asset Poverty by Gender 1.02 x higher
for single women
1.09 x higher
for single women
Liquid Asset Poverty by Family Structure 3 x higher
for 1-parent HHs
1.9 x higher
for 1-parent HHs
Extreme Asset Poverty Rate 16.2% 17.0%
Net Worth $120,455 $70,359
Unbanked Households 4.8% 7.7% 13
Underbanked Households 23.9% 20.0% 42
Households with Savings Accounts 76.3% 68.8% 17
Consumers with Subprime Credit 49.5% 48.9% 30
Borrowers 90+ Days Overdue 3.95% 3.40% 40
Average Credit Card Debt $12,311 $9,890 47
Bankruptcy Rate (per 1,000 people) 3.3 2.9 36

Click Link to view/download full State Profile – MD