Oregon, also known as the Beaver State, is located in the Pacific Northwest region of the United States. It is bordered by Washington to the north, Idaho to the east, California and Nevada to the south and it shares an international border with British Columbia in Canada.
This is quite surprising considering that Oregon has a population of around 4 million people and its economy is based on natural resources.
Oregon’s economy is built on extensive timber resources and fertile farmlands, a large number of jobs are found in the service sector.
Oregon’s major sectors are natural resources, tourism, and recreation, construction, real estate, manufacturing, and technology.
With a low population compared to other states like California and Texas, Oregon has one of the strongest economies in the country.
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The 10 Wealthiest Cities in Oregon
When considering one of the best places to retire in Oregon, you’ll find many different cities that fit the bill. You could be looking for the warmest climate or a place with the most outdoor recreation opportunities.
You might want to live close to your children or grandchildren, and if so, you may want to select a location with an excellent school system.
Here is a list of the wealthiest cities in Oregon:
1. Bethany — Median Income of $135,800
Bethany is one of the richest cities in Oregon with a population of more than 26,501 (2019) people. It’s located in Washington County and has an average household income of more than $135,800 per year.
Bethany is also one of the most educated cities in Oregon with almost 60% of its residents holding a bachelor’s degree or higher.
Bethany is one of the wealthiest neighborhoods in Portland, and it’s close to a number of shopping centers and services that residents might need.
It’s also not far from other popular neighborhoods, including Cedar Mill and Rock Creek, which are north of Bethany. To the south is Tanasbourne, while West Haven-Sylvan is southwest of Bethany.
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2. Happy Valley City — Median Income of $125,676
Happy Valley City was founded in 1965 and has been growing ever since. Happy Valley City is known for being a family-friendly city that offers beautiful scenery and proximity to downtown Portland.
The city’s parks and open spaces are an important part of the community and are enjoyed by residents year-round. Happy Valley City is home to many different types of businesses including retail stores, restaurants, hotels, banks, insurance companies, and more.
The Civic Center is a popular destination for events such as concerts and movies. The climate in Happy Valley City is mild, with temperatures ranging from the mid-50s during winter months up to the high 80s during summer months.
Snowfall rarely occurs but rain showers are common throughout all seasons except summer when they’re less frequent due to higher temperatures outside.
In addition to its location close to downtown Portland which makes it easy for residents who work there to commute back home on weekdays too.”
3. Cedar Mill — Median Income of $123,662
Cedar Mill is one of the richest cities in Oregon with a median household income of $123,662. It’s also one of the state’s most educated, with more than 70 percent of adults 25 and older holding bachelor’s degrees.
With a population of just under 17,259 people, Cedar Mill is a small affluent suburb located about 10 miles west of Portland. The city is home to many notable residents like former Trail Blazers player Rasheed Wallace and Nike co-founder Bill Bowerman.
The town has a reputation for being a great place to raise kids and it is one of the top places to live and launch a business, as well as one of the best places to retire rich.
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4. Bull Mountain — Median Income of $120,523
Bull Mountain is one of the richest cities in Oregon with a median household income of $120,523. That’s more than double the income of the average Oregonian and about $62,818 more than the typical U.S. household.
The area was first developed in the 1970s and 1980s as part of Beaverton’s expansion southward. But it didn’t become a city until 2004 when it was incorporated to avoid annexation by Tigard and Tualatin.
Bull Mountain is just one neighborhood in a greater area known as Washington County, which has some of the highest property values in all of Oregon.
The median home value in Bull Mountain is a whopping $740,000, according to data from Realtor and the U.S. Census Bureau.
5. West Linn — Median Income of $119,415
The median price for a home in West Linn is $754,320 and it’s just 16 miles from Portland. The unemployment rate in West Linn is low at 4.8% and there are a lot of different job opportunities in the city.
West Linn is a great place for families to live with excellent schools, including Willamette Primary School, Trillium Creek Primary School, and Rosemont Ridge Middle School.
This suburb of Portland has many recreational opportunities and parks including Mary S. Young Park & Trail and Willamette Park.
You’ll also find farmers’ markets, shopping malls, restaurants, and other activities throughout the city. New residents will find it easy to meet new people and make friends in this beautiful community.
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6. Lake Oswego — Median Income of $108,927
Lake Oswego is one of the richest cities in Oregon with a population of around 39,127 (2019). With its rolling hills and stunning lake vistas, it’s easy to see why this suburb of Portland is consistently ranked by CNN/Money as one of the best places to live in the US.
Housing in Lake Oswego is expensive, but that’s to be expected given the town’s idyllic location. The median home sales price here averages around $879,600. Some homes cost more than $2 million.
While it’s not cheap, Lake Oswego has a lot going for it. There are tons of excellent schools here and the city hosts several cultural events throughout the year, including an annual art festival that attracts thousands of visitors from all over the Pacific Northwest.
7. Sherwood — Median Income of $107,537
Sherwood is one of the richest cities in Oregon with a median household income of $107,537. The median home value is $572,500. Homes on the market tend to be around $380,000, and the average rent is $1814 per month.
Most people own their homes, which is characteristic of more affluent areas. Most families own two or more vehicles, as Sherwood is primarily a bedroom community with many residents commuting to jobs elsewhere in the Portland metro area.
There are several golf courses in the area, including Stone Creek Golf Course, Langdon Farms Golf Club, and Tualatin Country Club.
Businesses – Sherwood has a thriving local business scene and hosts an annual farmer’s market each year featuring local produce and crafts from local artisans.
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8. West Haven-Sylvan — Median Income of $100,095
West Haven-Sylvan is one of the richest cities in Oregon with a median household income of $100,095. The median home price is $225,100, which is more than twice the state average.
West Haven-Sylvan has many nearby coffee shops, restaurants, and parks. Many families and young professionals live in West Haven-Sylvan and residents tend to be liberal. The public schools in West Haven-Sylvan are highly rated.
9. Oak Hills — Median Income of $96,323
Oak Hills is one of the richest cities in Oregon with a median household income of $96,323 and a poverty rate of 3.2 percent. Low crime rates and high graduation rates also make this Portland suburb one of the most desirable places to live in the state.
According to City-Data, only 5.3 percent of Oak Hills residents live below the poverty line, compared to 14.4 percent for Oregon as a whole.
The unemployment rate for Oak Hills is 5.2 percent, lower than the national average of 6.6 percent, and unemployment benefits are low at $1,651 per month on average.
The city’s public schools are strong, especially Oak Hills High School, which has an above-average graduation rate of 80 percent and has been recognized by Newsweek as one of America’s Top High Schools.
10. Garden Home-Whitford — Median Income of $96,386
Garden Home-Whitford is one of the richest cities in Oregon with a median household income of $96,386. Garden Home-Whitford is a census-designated place and an unincorporated community in Washington County, Oregon, United States.
It was created by the 2010 United States Census as a combination of the Garden Home CDP and the Whitford CDP. As of the 2019 census, it had a population of 7,006 (2019.
The Beaverton suburb is renowned for its excellent schools and has a small-town feel despite a large number of tech companies in the area.
The community is home to several well-known businesses, including Nike and Intel, which have helped make Oregon’s economy one of the strongest in the country.