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Neighbour­hood Financial Health Index

What is the Neighbourhood Financial Health Index?

NFHI Score in the center. Branching out from it: Household income, Mortgage debt, Real Estate, Neighbourhood Poverty, Liquid Assets, and Consumer Debt

The Neighbourhood Financial Health Index (NFHI) is a powerful new measure and visualization tool created to help municipalities, community organizations, and residents to explore the different dimensions and distribution of financial health in their community.

The first of its kind in Canada, the NFHI enable users to see how well individual neighbourhoods are doing when it comes to household financial health. Going beyond income alone, the NFHI combines income, debt, and asset indicators to provides a more comprehensive and accurate picture of household financial health.

The accompanying NFHI Community Financial Health Maps enables users to see at a glance how financial health and vulnerability are distributed across their community and to explore the underlying drivers of financial health and vulnerability for individual neighbourhoods.

Why measure neighbourhood financial health?

The NFHI was created to help Canadians – governments, community organizations, businesses and individuals – to see and respond to financial vulnerability in local communities. The new Index and Community Financial Health Maps make it possible to:

Measure and analyze household financial health within and across communities

Catalyze an informed dialogue about household financial health and vulnerability in Canada

Design more effective policies and programs to reduce financial vulnerability

Target efforts to build financial resilience where they are needed most

 

The NFHI offers freely available, accurate, local information on household financial health by neighbourhood through the Community Financial Health Maps – information not available locally until recently.

National and community-level research and analysis are also available through the Canadian Council on Social Development for institutions and organizations seeking new insights to strengthen their efforts to improve household financial health.

For more information on the NFHI’s development, please see our background paper.

NFHI Indicators

The NFHI is a weighted composite of six indicators:

Household Income

Average pre-tax household income, including employment income, income from government programs, pension income, investment income, and other money income.

Neighbourhood Poverty

Percentage of households with incomes below $30,000 per year.

Liquid Assets

Average household value of financial assets, included registered and non-registered savings and financial investments.

Real Estate Assets

Average household value of primary and other real estate.

Consumer Debt

Average household value of all consumer debt, comprising debt from credit cards, personal loans and lines of credit.

Mortgage Debt

Average household value of all mortgage debt.

Data are drawn from Environics Analytics WealthScapes product. WealthScapes offers the most comprehensive database available for information on the assets, liabilities and income of Canadians. For more information on WealthScapes, please see: Link

For more information on the NFHI’s methodology, please see our background paper.

How to use the NFHI Community Financial Health Maps

The NFHI Community Financial Health Maps enables users to explore the distribution of financial health and vulnerability in Canada’s urban neighbourhoods, as well as over 5,000 municipalities of all sizes.

Click on any municipality or neighbourhood to view its overall index score and relative ranking. Users can also explore the underlying drivers of financial health and vulnerability in individual neighbourhoods by viewing scores and ranks associated with each of the six sub-indicators that together make up the NFHI. Sub-indicator scores can be compared against community or national level benchmark averages.

A search box allows users to find specific municipalities or neighbourhoods by name, while a print feature provides an 8.5” by 11” community profile with table and map.

Contact

To learn more about the NFHI, please contact CCSD or Prosper Canada.

To commission a custom analysis and report for your community or region, please contact CCSD. This Toronto Community Profile is an example of the type of research and communication product we offer.

To purchase NFHI data for your community, please contact CCSD. Licenced data is available through Environics Analytics, which has generously agreed to donate a portion of each purchase back to the NFHI project.

View our Frequently asked questions to learn more.

View the NFHI backgrounder

CCSD Contact:

Michel Frojmovic
michel@ccsd.ca
613-728-0335

Prosper Canada Contact:

info@prospercanada.org
416-665-2828

 

About Us

The Canadian Council on Social Development (CCSD) is a not-for-profit organization that partners and collaborates with all sectors and communities to advance solutions to today’s toughest social challenges. Through its flagship initiative, the Community Data Program, the CCSD facilitates access to – and use of – the evidence needed to tell community stories and inform effective policy and programs.

Prosper Canada is a national charity dedicated to expanding economic opportunity for Canadians living in poverty through program and policy innovation. Prosper Canada’s aim is to ensure that all financially vulnerable Canadians have access to the financial policies, programs, products and advice they need to build their financial wellbeing.

Environics Analytics is a marketing and analytical services company offering an extensive suite of data-based products and services. Their WealthScapes product is a comprehensive database providing information at a number of geographic scales on Canadians’ assets, liabilities, and income.

 

Acknowledgements

The NFHI was developed by the Canadian Council on Social Development and Prosper Canada, with data from Environics Analytics’ WealthScapes product and the generous support and assistance of:

  • City of Calgary
  • City of Toronto
  • Environics Analytics
  • FuseSocial Wood Buffalo
  • Open Policy Ontario
  • Regional Municipality of Peel
  • Regional Municipality of York
  • TD Bank Group
  • United Way Calgary
  • United Way Toronto & York Region
  • Vibrant Communities Calgary
  • West Neighbourhood House

The NFHI website, 2016 data and the report, Cross Canada Check-up: Provincial/Territorial findings from Canada’s Neighbourhood Financial Health Index, were generously funded by the Investment Industry Regulatory Organization of Canada.