Illinois Asset Building Group - Building Financially Strong Families and Communities

Click to go to interactive map of Illinois. Once the map window opens, simply click on any county to view the corresponding asset poverty data. To view asset poverty data by state legislative districts click here.

The Illinois Asset Poverty Index (IAPI) provides data on asset poverty for counties, county groupings and state legislative districts across Illinois. Developed with help from our partner organization in California, the IAPI enables Illinois residents to ascertain asset poverty rates for the communities in which they live. The IAPI also enables a closer examination of asset poverty by demographics such as race, age, educational achievement, household composition, home-ownership status, and income. With this knowledge, residents, researchers, policymakers, and advocates can develop policy solutions to better discern the challenges facing communities in our state.

Click here for a fact sheet of asset poverty in Illinois.

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What is asset poverty?

Households experiencing asset poverty do not have enough cash reserves (savings, stocks, retirement accounts, equity in a home or business) to get by at the federal poverty level for three months when their primary source of income is eliminated through job loss or other disruption.

Asset poverty is a measure of economic security and mobility based on household net worth. Net worth is defined as the total value of all assets, such as a house or business, minus any liabilities (debts). This means that asset poor households do not have enough savings or wealth to provide for basic needs during extended periods of economic hardship such as a sudden job loss or a medical emergency.

How is asset poverty different from income poverty?

Poverty in the United States is officially and historically defined as the minimum amount of annual income a household requires in order to meet basic needs. By focusing solely on income, income poverty tells only part of the story of family financial security by ignoring the lack of other personal resources, such as home-ownership, business equity, and retirement savings. Measuring net worth by considering assets and liabilities, as opposed to income alone, provides a more long-term and encompassing view of economic security and mobility. A comparison of data on income poverty with asset poverty shows that more than twice as many Illinois households are asset poor than are income poor (26.9% vs. 10.9%).

Why are assets important?

Assets, both personal and financial, are the foundation for long-term financial stability and success. Assets provide families something to fall back on in times of economic instability and give people an orientation toward the future. Families with assets save more, work more and earn more, care for their property, are involved in their communities, and plan for education and retirement. Assets help families get ahead, instead of just getting by.