Oregon’s Per Capita Personal Income 2023

by Molly Hendrickson

June 18, 2024

Oregon’s total personal income ranked 25th in the nation in 2023, matching its 2022 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 5.2% in 2023, higher than the previous year’s growth rate of 2.0%. For individual states in 2023, growth ranged from a 3.4% increase in Indiana, to a 7.0% increase in Florida. Personal income grew by 4.8% in Oregon in 2023, which was tied for the 31st 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 $277 billion in 2023, while Texas had personal income of about $2 trillion. Per capita personal income, however, was $65,426 for Oregon and $65,422 for Texas.

Adjusting to PCPI adjusts the income rankings of states as well. Massachusetts ranked 13th in total personal income but ranked first in the nation in PCPI. West Virginia ranked 41st in total personal income, but ranked 49th of the states in PCPI. Oregon ranked 25th in total personal income, but ranked 22nd in per capita personal income.

Figure showing Oregon’s Per Capita Personal Income Ranked 22nd Highest in 2023

Comparison of PCPI Components

For the United States as a whole, 62.2% of PCPI came from net earnings in 2023. Massachusetts took the top slot ($57,807) and West Virginia took the second to last ($28,379) in dollar value of per capita net earnings. For Massachusetts, 65.8% of PCPI came from net earnings and for West Virginia it was 54.0%. Oregon ranked 27th among the states in per capita net earnings ($39,376), which accounted for 60.2% of the state’s PCPI in 2023. 

Many states ranked similarly in dividends, interest, and rent per capita as they did in net earnings per capita. Massachusetts ranked seventh and West Virginia 48th. Oregon ranked 27th in dividends, interest, and rent per capita ($12,552).

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 (27th), moved to 10th highest in per capita transfer receipts ($13,498). Massachusetts ranked 12th ($13,286) and West Virginia ranked first ($15,217) in per capita transfer receipts.

Table showing Components of Per Capita Personal Income, 2023

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.

Graph showing State Per Capita Personal Income as a Percent of United States PCPI

Oregon’s PCPI relative to the U.S. showed a slow upward trend from 2011 to 2020. In 2011, Oregon’s PCPI was 88.0% and by 2020 it had reached 95.5% of the U.S.’s PCPI. From 2020 to 2023, Oregon’s PCPI as a share of the U.S. remained relatively stagnant. Population growth works to drive PCPI downward, while income growth works to drive PCPI upward. Oregon’s 2023 population growth rate was -0.1%, ranking near the bottom across the U.S. Oregon’s 2023 total personal income growth rate was 31st in the nation, while Oregon’s PCPI growth rate ranked 16th.

Latest Items

Subscription Service

You can sign up to receive email notifications when publications have been updated or new articles are added for any geographic area you are interested in. You can receive new articles on a daily, weekly, or monthly schedule – whichever is most convenient for you.

Visit the subscription order form to sign up. It allows you to choose your preferences, and you can change those preferences – or unsubscribe – at any time.