Happy Valley, OR

Very High · 172

Oregon · Population 25,572 · Updated March 2026

$2,025
Median Rent / Month
$120,324
Median Income
$671,800
Median Home Value
$2,280
Owner Costs / Month

Affordability

How far your income goes in Happy Valley

20.2%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Oregon

State-level tax rates that affect your costs

9.9%
Income Tax (Top Rate)
0%
Sales Tax
0.93%
Property Tax Rate

Estimated Annual Costs

$24,300
Annual Rent
$11,912
State Income Tax
$6,248
Property Tax (est.)

Cost of Living Overview

Happy Valley has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 172 (where 100 equals the national median), Happy Valley residents can expect to pay median rent of $2,025/month while earning a median household income of $120,324/year.

The median home value in Happy Valley, OR is $671,800, with typical monthly owner costs around $2,280 including mortgage, insurance, and taxes. The median rent-to-income ratio of 20.2% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Oregon's top income tax rate of 9.9% is among the highest in the nation, adding to the overall cost burden. Combined with a 0% sales tax rate and 0.93% effective property tax rate, the overall tax environment is a factor in the total cost of living in Happy Valley.

Frequently Asked Questions

Common questions about living costs in Happy Valley

What is the cost of living in Happy Valley, OR?
The cost of living index in Happy Valley, OR is 172 (US average = 100). Median monthly rent is $2,025, median household income is $120,324/year, and the median home value is $671,800.
Is Happy Valley, OR affordable?
No, Happy Valley is more expensive than the national average with a cost index of 172. The rent-to-income ratio is 20.2%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Happy Valley, OR?
The median gross rent in Happy Valley, OR is $2,025 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $24,300.
What is the median household income in Happy Valley?
The median household income in Happy Valley, OR is $120,324 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Oregon?
Oregon has a top income tax rate of 9.9%, a sales tax of 0%, and an effective property tax rate of 0.93%.