Lake Oswego, Oregon Demographics & Population 2026

Population Overview

Lake Oswego is a mid-sized community located in Oregon, within Multnomah County. The total population is 40,381. It ranks as the 14th most populous out of 420 Census-designated places in Oregon.

Age Demographics

The median age in Lake Oswego is 46.7 years. This is 16% higher than the state median of 40.4 years. 10.1% of residents are 75 or older, suggesting a significant retirement-age population with implications for healthcare services and senior housing.

Economy, Income & Housing

The median household income in Lake Oswego is $141,549. This is 71% higher than the state median of $83,011. It is also 75% higher than the national median of $80,734. The poverty rate stands at 3.4%. This is 71% lower than the state poverty rate of 11.9%. This exceptionally low poverty rate indicates strong economic prosperity across the community. The unemployment rate is 3.4%. This is 36% lower than the state rate of 5.4%. The median home value is $932,200. Housing costs are 95% higher than the state median of $477,600. The home-value-to-income ratio of 6.6x suggests that housing affordability is a significant concern for many residents. 69.3% of occupied housing units are owner-occupied. This homeownership rate is 9% higher than the state average of 63.3%.

Race & Ethnicity

The largest racial or ethnic group in Lake Oswego is White (non-Hispanic), making up 75.9% of the population. Asian residents account for 9.2%. The Black or African American population (0.7%) is well below the state average of 1.8%. The Hispanic or Latino population (5.7%) is well below the state average of 14.7%. The Asian population is significantly higher than the state average (9.2% vs 4.4%).

Education

74.8% of residents aged 25 and older hold a bachelor's degree or higher. This places Lake Oswego in the top 10% of all cities in the state for educational attainment. This is 103% higher than the state rate of 36.8%. Nationally, 35.7% of adults hold at least a bachelor's degree. The high school graduation rate (or equivalent) is 99.0%. Notably, 34.1% of adults hold a graduate or professional degree, indicating a highly educated workforce.

Data Sources & Methodology

All demographic data for Lake Oswego, Oregon is sourced from the U.S. Census Bureau's American Community Survey (ACS) 2020–2024 5-Year Estimates. The ACS collects data from approximately 3.5 million households annually and pools five years of responses so that even small communities can be measured, though the margin of error widens as the population falls. Comparisons are made against Oregon state averages and national averages calculated from the same dataset. Rankings reflect the city's position among all 420 Census-designated places in Oregon. Read more about how these figures are produced on our methodology page, or visit data.census.gov for official data.