Aug 10, 2023 - News
What it takes to be in Oregon's top 1%
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You need to bring in at least $571,813 a year to be among the top 1% of earners in Oregon, according to a recent SmartAsset analysis of IRS tax filer data.
- That's $80,844 less than the national household figure of $652,657 — meaning it's a little easier to join the 1% club here than in Washington and California.
The big picture: Distribution is uneven. The wealthiest 1% of U.S. families held more than a third of the country's total wealth in 2019, the Congressional Budget Office reported last year.
- Meanwhile, "families in the bottom half ... held only 2% of total wealth" in 2019, per the CBO report.
Zoom in: According to U.S. Census Bureau data, the median household income for Portlanders in 2021 was $78,476 — about 14% of the amount that it takes to be among the top 1% of Oregonians.
- However, Portland has one of the smallest income gaps between low wage and high wage earners, per an analysis of wages done by The Oregonian.
Zoom out: Nationally, joining the 1% club is most expensive in Connecticut, where residents would need to make at least $952,902.
- It's cheapest in West Virginia, where residents need to make $367,582.