Oregon's income growth lags most other states
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Oregonians' incomes increased just over 26% over the past five decades but trailed the gains seen nationally, according to data from a new Urban Institute analysis.
Why it matters: Lagging income growth can make it harder for Oregon to attract and retain workers, especially younger professionals with more geographic flexibility.
By the numbers: After adjusting for inflation, Oregon's median household income rose from $63,280 in 1970 to $80,160 in 2023.
- The national median increased by nearly 32% over that period, from $58,930 to $77,719.
The big picture: Oregon's growth ranks among the 15 lowest in the nation.
- Meanwhile, our West Coast neighbors, Washington and California, saw significant wage growth over the last five decades, at 46% and 61%, respectively.
State of play: Income alone does not determine a family's prosperity, the think tank said in its report, but it does offer a snapshot of economic growth.
- The most important factor tied to income change is educational attainment.
- Another contributor is immigrants: "This could be because immigration leads to economic growth, immigrants seek out growing areas, or both."