Sherwood, West Linn, Happy Valley: These cities aren’t just some of the best places to live in Oregon. They are also home to some of the richest people in the Beaver State.
Sherwood in particular houses the richest residents in the state thanks, in part, to a median household income of $86,111 and a ridiculously low poverty rate of 4.7%.
If you’re thinking of moving to one of these towns, you’ll probably need to start saving. The richest places in Oregon share common characteristics such as having a genius level populous, sky high home prices, and a Pleasantville level of married couples.
How did we come up with these mega wealthy cities? We analyzed Census data from the 2012-2016 American Community Survey for the 77 places in Oregon with more than 5,000 people.
At the end of the day, here’s the set of the 10 richest places in Oregon for 2018:
- Sherwood (Photos | Homes)
- West Linn (Photos | Homes)
- Happy Valley (Photos | Homes)
- Lake Oswego (Photos | Homes)
- Oregon City (Photos | Homes)
- Tualatin (Photos | Homes)
- Canby (Photos | Homes)
- Tigard (Photos | Homes)
- Sandy (Photos | Homes)
- Wilsonville (Photos | Homes)
For more on how we calculated the top ten, read on or skip to the end for the full list of the richest cities in Oregon.
How We Determined The Richest Places In Oregon For 2018
The first thing that comes to most people’s minds when they think about determining the richest places is to simply identify personal incomes. After all, rich people have really high salaries.
However, we don’t believe that one statistic wholly encompasses what it means to be one of the ‘richest places’. So we looked at this set of criteria from the newly released 2012-2016 American Community Survey:
- Poverty Level
- Median Household Income
- Unemployment Rate
Median household income is the most digestible way to understand how rich a place really is. The unemployment rate tries to capture the prospects for more people to become rich. If more people are employed, the richer the future looks.
After we collected the data for all 77 places with more than 5,000 people in Oregon, we ranked each place from 1 to 77 for each of the criteria, with 1 being the richest.
We then averaged all the rankings for a place into a ‘Rich Score’ with the place having the lowest overall Rich Score, Sherwood, crowned the ‘Richest Place In Oregon For 2018’.
You can learn more about the top ten below or skip to the end to see the rankings for all 77 places.
Population: 18,965Median Income: $86,111
Unemployment Rate: 4.8%
Poverty Rate: 4.7%
More on Sherwood: Real Estate | Data
Sherwood is a city in Washington County, Oregon, United States. Located in the southeast corner of the county, it is a residential community in the Tualatin Valley, southwest of Portland. As of the 2010 census, Sherwood had a population of 18,194 residents. The city’s population for 2014 was estimated to be 18,978 by the U.S. Census. Sherwood was first incorporated in 1893 as a town. Originally named Smockville after its founder, James Christopher Smock, the town was given its current name by local businessman Robert Alexander in 1891, who likely named it after his hometown of Sherwood, Michigan.
2. West Linn
Population: 26,242Median Income: $89,806
Unemployment Rate: 5.6%
Poverty Rate: 4.8%
More on West Linn: Real Estate | Data
West Linn is a city in Clackamas County, Oregon, United States. Now a southern suburb within the Portland metropolitan area, West Linn has a history of early development, prompted by the opportunity to harvest energy from nearby Willamette Falls. It was named after U.S. Senator Lewis F. Linn of Ste. Genevieve, Missouri, who had advocated the American occupation of Oregon as a counterclaim to the British. As of the 2010 census, the city had a population of 25,109.
3. Happy Valley
Population: 17,474Median Income: $106,197
Unemployment Rate: 6.5%
Poverty Rate: 4.4%
More on Happy Valley: Real Estate | Data
Happy Valley is a city in Clackamas County, Oregon, United States. The population was 13,903 at the 2010 census.
4. Lake Oswego
Population: 38,065Median Income: $89,979
Unemployment Rate: 6.3%
Poverty Rate: 7.2%
More on Lake Oswego: Real Estate | Data
Lake Oswego /swio/ is a city in the State of Oregon, primarily in Clackamas County with small portions extending into neighboring Multnomah and Washington counties. Located about 8 miles (13 km) south of Portland and surrounding the 405-acre (1.64 km2) Oswego Lake, the town was founded in 1847 and incorporated as Oswego in 1910. The city was the hub of Oregon’s brief iron industry in the late 19th century and is today an affluent suburb of Portland. As of the 2010 census, the city had a total population of 36,619, a 3.8% increase over the 2000 population of 35,278.
5. Oregon City
Population: 35,057Median Income: $65,548
Unemployment Rate: 5.5%
Poverty Rate: 11.0%
More on Oregon City: Real Estate | Data
Oregon City is the county seat of Clackamas County, Oregon, United States, located on the Willamette River near the southern limits of the Portland metropolitan area. Established in 1829 by the Hudson’s Bay Company, in 1844 it became the first U.S. city west of the Rocky Mountains to be incorporated. As of the 2010 census, the city population was 31,859.
Population: 27,024Median Income: $71,896
Unemployment Rate: 6.2%
Poverty Rate: 10.9%
More on Tualatin: Real Estate | Data
Tualatin /tultn/ is a city located primarily in Washington County in the State of Oregon. A small portion of the city is also located in neighboring Clackamas County. It is a southwestern suburb in the Portland Metropolitan Area that is located south of Tigard. The population was 26,054 at the 2010 census.
Population: 17,218Median Income: $62,035
Unemployment Rate: 5.4%
Poverty Rate: 11.3%
More on Canby: Real Estate | Data
Canby is a city in Clackamas County, Oregon, United States. The population was 15,829 at the 2010 census. It is along Oregon Route 99E, 2 miles (3 km) northeast of Barlow. In May 2016 Canby was featured on ABC’s series 20/20 (U.S. TV series), when the local ‘Canby Psychic’ was part of an investigation of swindling a local rancher of $15 million.
Population: 50,787Median Income: $65,505
Unemployment Rate: 6.1%
Poverty Rate: 12.1%
More on Tigard: Real Estate | Data
Tigard /tard/ is a city in Washington County, Oregon, United States. The population was 48,035 at the 2010 census. As of 2007, Tigard was the state’s 12th largest city. Incorporated in 1961, the city is located south of Beaverton and north of Tualatin, and is part of the Portland metropolitan area. Interstate 5 and Oregon Route 217 are the main freeways in the city, with Oregon Route 99W and Oregon Route 210 serving as other major highways. Public transit service is provided by TriMet, via several bus routes and the WES Commuter Rail line.
Population: 21,814Median Income: $63,097
Unemployment Rate: 6.8%
Poverty Rate: 10.0%
More on Wilsonville: Real Estate | Data
Wilsonville is a city primarily in Clackamas County, Oregon, United States. A portion of the northern section of the city is in Washington County. It was founded as Boones Landing because of the Boones Ferry which crossed the Willamette River at the location; the community became Wilsonville in 1880. The city was incorporated in 1969 with a population of approximately 1,000. The population was 13,991 at the 2000 census, and grew to 19,509 as of 2010. Slightly more than 90% of residents at the 2000 census were white, with Hispanics comprising the largest minority group.
There You Have It – The Wealthiest Places In Oregon For 2018
Like we said earlier, when we set out to identify the richest places in Oregon, we weren’t sure what we’d encounter, but it ended up being some of the best places to live in Oregon.
When you look at the data, the cities and places mentioned above meet the criteria for being at the very top of the income ladder for everyone that lives there.
If you’re curious enough, here are the poorest cities in Oregon, according to data:
Poorest: Sweet Home
2nd Poorest: Winston
3rd Poorest: Prineville
For more Oregon reading , check out:
Detailed List Of The Richest Cities In Oregon