Almost half of all LA residents live in asset poverty, according to the Local Asset Poverty Index (LAPI), a tool developed by the Asset Policy Initiative of California (APIC) to help local leaders understand asset poverty in their communities.

To be exact, 46% of households in Los Angeles are asset poor. This means they do not have enough savings to live at the federal poverty line for 3 months, if there is an interruption in income. If there is a job loss or a medical emergency a household is just a few months away from becoming dependent on public assistance, losing housing, or worse.

Asset poverty is even more magnified for minorities. Latinos and African Americans have the highest asset poverty rates in the city. Approximately 62% of Latinos, 57% African Americans, and 30% of whites are asset poor.

Asset Poverty vs. Income Poverty

LA City Councilmember Alarcon, Greuel, and Wesson commissioned an Ad Hoc Committee to End Poverty in Los Angeles. This committee is creating a living document that will outline recommendations, a timeline, and priorities for addressing poverty in LA. View asset poverty data presented at the July 8th hearing.