Asset Poverty

Rationale

Given the importance of assets for household economic self-sufficiency, this measure expands the notion of poverty to include a minimum threshold of wealth needed for both security and mobility. Research shows that-even using a liberal definition of asset poverty-the asset poverty rate (25.5%) is twice that of the income poverty rate (12.7%).

About Measure

Percentage of the population of households without sufficient net worth to subsist at the poverty level for three months without other support (as of 1996).

Source

Calculations by Robert and Jon Haveman based on U.S. Department of Commerce, Bureau of the Census. Survey of income program population [Electronic data tape]. (1995 and 1996). Washington, D.C.: Author.