Oregon's richest place is in unincorporated Multnomah County, Forbes reports
PORTLAND, Ore. (KOIN) — A neighborhood found in unincorporated Multnomah County has been deemed as the “richest” place in Oregon, Forbes reported.
The business media company listed the state’s top 50 wealthiest places using four metrics from the 2023 American Community Survey: median household income, average household income, median home value and median property taxes paid.
Based on these factors, Dunthorpe was ranked as the richest place in Oregon. With about 640 households, the area has a median household income of about $449,6333 and a median home value of $1,508,300.
Tetherow, Stafford, Neahkahnie and Cedar Mill rounded out top five wealthiest locales. Forbes noted the Census Bureau treats some of its “Census-designated places” as cities, so some of the featured areas could be considered as neighborhoods to residents.
The largest city within the top 10 is Lake Oswego, with 16,649 households. The Portland suburb has a mean household income of $195,728 and median home value of $825,000.
Oregon’s largest city overall was ranked at No. 48. Data show Portland has a mean household income of $117,687 and a median home value of $523,100.
Beaverton was one step above at No. 47, with an average income of $112,475. The median home is valued at $494,700.
Forbes also compiled a list of the top 50 wealthiest cities in Washington, with Hunts Point ranked at No. 1. The company noted that both Oregon and Washington have grown significantly in the past 50 years.
The Beaver State’s population increased from 2 million residents in 1970 to 4.23 million residents in 2023. And according to data from the Economic Policy Institute, the top 1% of earners in Oregon take home 16.6% of the state’s overall income.
“Oregon is home to the headquarters of countless corporations, including Nike, Precision Castparts, and Fred Meyer, among others,” Forbes said. “Thus, not coincidentally, Oregon state is home to a substantial amount of wealth.”