Mass fractions are typically around .8 to .9, with lower numbers being better. The Space Shuttle is .82 for instance, considered to be fairly good. Without the benefit of staging, SSTO designs are typically designed for mass fractions around .9. Staging increases the mass fraction, which is one of the reasons SSTO's appear difficult to build.
For a single stage rocket operating in a vacuum, in a regime where gravity can be neglected (i.e., in orbit, in free fall, or over a very short time span), the following formula applies:
Where is the ratio of final mass to initial mass (i.e., the mass fraction), is the change in the vehicle's velocity as a result of the fuel burn and is the effective exhaust velocity (assuming a perfectly efficient nozzle, then
where Isp is the fuel's specific impulse.)