Oregon’s Per Capita Personal Income 2024
September 18, 2025Oregon’s total personal income ranked 25th in the nation in 2024, matching its 2023 rank. Data on personal income comes from the Bureau of Economic Analysis – a division of the U.S. Department of Commerce.
State personal income captures total income within a state and is the sum of three main components: net earnings (wages, salaries, employer contributions); personal current transfer receipts (retirement, Medicare, unemployment insurance); and dividends, interest, and rent.
Growth in personal income for the U.S. overall averaged 5.0% in 2024, lower than the previous year’s growth rate of 5.7%. For individual states in 2024, growth ranged from a 0.1% increase in North Dakota, to a 6.9% increase in North Carolina. Personal income grew by 5.2% in Oregon in 2024, which was tied for the 25th fastest in the nation.
Per Capita Personal Income
The size of a state’s population plays a predominant role in the size of its personal income. California, Texas, New York, Florida, Illinois, and Pennsylvania – six of the most populous states in the nation – are also the top six states in terms of total personal income. South Dakota, North Dakota, Alaska, Wyoming, and Vermont – five of the least populous states in the nation – are also the bottom five states in terms of total personal income.
By dividing a state’s total personal income by its total population, we obtain per capita personal income (PCPI). This gives us a number that is more easily compared with other states. For instance, Oregon’s total personal income was almost $302 billion in 2024, while Texas had personal income of over $2 trillion. Per capita personal income, however, was $70,685 for Oregon and $67,942 for Texas.
Adjusting to PCPI changes the income rankings of states as well. Massachusetts ranked 12th in total personal income but ranked second in the nation in PCPI, after the District of Columbia. West Virginia ranked 41st in total personal income but ranked 50th of the states and D.C. in PCPI. Oregon ranked 25th in total personal income but ranked 20th in PCPI.
Comparison of PCPI Components
For the United States as a whole, 61.3% of PCPI came from net earnings in 2024. Massachusetts took the second slot among all states and the District of Columbia ($60,010) and West Virginia took the second to last ($30,001) in dollar value of per capita net earnings. For Massachusetts, 63.9% of PCPI came from net earnings and for West Virginia it was 54.4%. Oregon ranked 27th among the states in per capita net earnings ($41,098), which accounted for 58.1% of the state’s PCPI in 2024.
Many states ranked similarly in dividends, interest, and rent per capita as they did in net earnings per capita. Massachusetts ($19,367) ranked fifth and West Virginia ($8,889) ranked 50th. Oregon ranked 25th in dividends, interest, and rent per capita ($14,429).
States that rank high in per capita net earnings typically rank lower in per capita transfer receipts, and states that ranked low in per capita earnings typically rank higher in per capita transfer receipts. This makes sense intuitively. If you are earning income, either through wages, dividends, interest, or rent, then you are less likely to need transfer receipts to cover basic living expenses. Oregon, which ranked near the middle in per capita net earnings (27th) and in per capita dividends, interest, and rent (25th), moved to 5th highest in per capita transfer receipts ($15,158). This accounted for 21.4% of PCPI. Massachusetts ranked 11th ($14,550) and West Virginia ranked first ($16,247) in per capita transfer receipts. These shares accounted for 15.5% and 29.5% of each state’s total PCPI, respectively.
Oregon’s Population-Driven Relative Trend
Oregon’s PCPI has remained close to the U.S. level since estimates began in 1929. The largest difference between the Beaver State and the U.S. came in 1943 when Oregon climbed to its peak of 123.8% of the national level. Oregon’s PCPI was consistently above the U.S. from 1938 to 1956 when incomes were bolstered by defense manufacturing for World War II and the post-war economic boom. In 1943, war-related manufacturing propelled Oregon’s PCPI to its highest level relative to the nation.
In 2009, Oregon’s PCPI dropped below 90% of the national level for the first time. And the state’s PCPI reached its lowest relative point (88%) in 2011. This was largely influenced by two main factors: the Great Recession of 2007 to 2009; and Oregon’s fast population growth. The Great Recession brought job loss and lower earnings, while at the same time Oregon’s population increased. Many states with high annual growth in population are also states with low annual growth in PCPI. This relationship can greatly impact a state’s per capita income relative to the national level.
Oregon’s PCPI relative to the U.S. showed a slow upward trend from 2011 to 2024. In 2011, Oregon’s PCPI was 88.0% and by 2024 it had reached 97.6% of the U.S.’s PCPI. Population growth works to drive PCPI downward, while income growth works to drive PCPI upward. Oregon’s 2024 population growth rate was 0.4%, ranking near the bottom across the U.S. Oregon’s 2024 total personal income growth rate was 25th in the nation, while Oregon’s PCPI growth rate ranked 15th.