Most Affordable Neighborhoods in Lake Oswego, OR

Some of the cheapest neighborhoods in Lake Oswego are Mt Park, Foothills, and Oldtown. These neighborhoods offer some of the lowest rent prices in Lake Oswego, making them ideal for renters on a budget. As of March 23, 2025, the average rent in Lake Oswego is $1,868, which is 2.7% higher than last year. However, it's important to remember that rental prices can vary significantly based on factors such as location, amenities, and floor plans.

Mt Park

Average Rent

$1,722/Month

Year-Over-Year Rent Change

2.3%

TransitScore® Rating

28/100

Units Available

32 Rentals

Mt Park is a top choice for budget-conscious renters for a variety of reasons. The average rent in Mt Park is $1,722 while the city average is $1,868. This is a 2.3% difference from last year. Residents enjoy convenient access to Se Park Ave Max Station, West Portland Park Natural Area, and Portland International. The neighborhood is considered car-dependent with a WalkScore® of 45.

Foothills

Average Rent

$1,889/Month

Year-Over-Year Rent Change

0.8%

TransitScore® Rating

32/100

Units Available

4 Rentals

When you’re looking for a great Lake Oswego neighborhood on a budget, check out Foothills. The average rent is $1,889, compared to the city average of $1,868. Rent prices have increased by 0.8%. Foothills is convenient to Clackamas Town Center Transit Center, Lewis & Clark College, and Elk Rock Island. The community is walkable with a WalkScore® of 74.

Oldtown

Average Rent

$1,889/Month

TransitScore® Rating

32/100

Units Available

4 Rentals

Oldtown is an affordable neighborhood in Lake Oswego with an average rent price of $1,889. Compare this to the city average of $1,868. Oldtown provides easy access to Se Park Ave Max Station, Oswego Village, and Reed College. It’s a walkable neighborhood with a WalkScore® of 83.

Westlake

Average Rent

$2,127/Month

Year-Over-Year Rent Change

0.1%

TransitScore® Rating

22/100

Units Available

17 Rentals

If you’re looking for a great, affordable neighborhood in Lake Oswego, Westlake might be the perfect place! It has an average rent price of $2,127, while the city’s average stands at $1,868. In the last year, prices have increased by 0.1%. Westlake is near Se Tacoma/Johnson Creek Max Station, Beaverton Transit Center (Blue, Red Lines), and Oregon Health & Sci Waterfront.

Lake Forest

Average Rent

$2,157/Month

Year-Over-Year Rent Change

1.5%

TransitScore® Rating

21/100

Units Available

43 Rentals

Lake Forest is a top choice for budget-conscious renters for a variety of reasons. The average rent in Lake Forest is $2,157 while the city average is $1,868. This is a 1.5% difference from last year. Residents enjoy convenient access to Milwaukie/Main St Max Station, Portland C.C., Sylvania Campus, and Lake Grove Shopping Center. The neighborhood is considered somewhat walkable with a WalkScore® of 62.

Walluga

Average Rent

$2,390/Month

Year-Over-Year Rent Change

4.1%

TransitScore® Rating

21/100

Units Available

16 Rentals

When you’re looking for a great Lake Oswego neighborhood on a budget, check out Walluga. The average rent is $2,390, compared to the city average of $1,868. Rent prices have increased by 4.1%. Walluga is convenient to Se Bybee Blvd Max Station, Lake Grove Center, and Tryon Creek State Natural Area. The community is walkable with a WalkScore® of 76.

Evergreen

Average Rent

$2,615/Month

Year-Over-Year Rent Change

0.9%

TransitScore® Rating

32/100

Units Available

16 Rentals

Evergreen is an affordable neighborhood in Lake Oswego with an average rent price of $2,615. Compare this to the city average of $1,868. In the past year, rent prices have increased by 0.9%. Evergreen provides easy access to Reed College, Tryon Creek State Natural Area, and Luscher Farm. It’s a walkable neighborhood with a WalkScore® of 92.

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Methodology

Transit Score measures access to public transit. Scores range from 0 (minimal transit) to 100 (rider’s paradise). Learn more about the Transit Score methodology. Rental data is sourced from CoStar Group’s Market Trend reports. As a leading authority in commercial real estate information, analytics, and news, CoStar performs in-depth research to build and sustain an extensive database of commercial real estate insights.

We've combined this data with public records to provide the most current rental information available.