Introduction & Overview
Financial Environment Profile
BACKGROUND
With generous support from Freddie Mac, Social Compact has created financial environment profiles for the purpose of disseminating informationon area demographics, access to financial services and consumer financial behavior, for any geography within the United States. The financialenvironment profiles merge public and proprietary databases [Synergos Technologies' PopStats and the U.S. Department of Housing and UrbanDevelopment's (HUD) Home Mortgage Disclosure Act (HMDA) data] and provide this information, aggregated from the census‐tract level, for selectgeographies upon request.
OVERVIEW
Geographies
The financial environment profiles provide indicator estimates for:
- low‐to‐moderate income (LMI) census tracts within a requested geography
- all census tracts in the city of the requested geography
- all census tracts in the county of the requested geography
- all census tracts in the state of the requested geography
For smaller geographies, county estimates are provided for comparison (i.e. for the City of Boston, Suffolk County estimates are provided); forlarger geographies, state estimates are provided for comparison (i.e. for Suffolk County, State of Massachusetts estimates are provided).
Low‐to‐moderate income (LMI) households are identified based on the U.S. Department of Housing and Urban Development's (HUD) definitionwhich considers low‐to‐moderate income as 50% (low) to 80% (moderate) of the median household income for the corresponding metropolitanstatistical area (MSA). LMI geographies in this analysis are comprised of census tracts where at least 51% of households are considered low andmoderate income earners.
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