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 April 13, 2025, the average rent in Lake Oswego is $1,856, which is 2% lower 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
$1,777/Month
Year-Over-Year Rent Change
0.6%
TransitScore® Rating
28/100
Units Available
26 Rentals
Mt Park is an affordable neighborhood in Lake Oswego with an average rent price of $1,777. Compare this to the city average of $1,856. In the past year, rent prices have increased by 0.6%. Mt Park provides easy access to West Portland Park Natural Area, Milwaukie/Main St Max Station, and Tryon Creek State Natural Area. It’s a car-dependent neighborhood with a WalkScore® of 45.
Foothills
Average Rent
$1,924/Month
Year-Over-Year Rent Change
7.8%
TransitScore® Rating
32/100
Units Available
2 Rentals
If you’re looking for a great, affordable neighborhood in Lake Oswego, Foothills might be the perfect place! It has an average rent price of $1,924, while the city’s average stands at $1,856. In the last year, prices have increased by 7.8%. Foothills is near Clackamas Town Center Transit Center, Elk Rock Gardens of the Bishop's Close, and Reed College.
Oldtown
Average Rent
$1,924/Month
TransitScore® Rating
32/100
Units Available
2 Rentals
Oldtown is a top choice for budget-conscious renters for a variety of reasons. The average rent in Oldtown is $1,924 while the city average is $1,856. Residents enjoy convenient access to Se Tacoma/Johnson Creek Max Station, Lake Place Shopping Center, and Elk Rock Island. The neighborhood is considered walkable with a WalkScore® of 83.
Westlake
Average Rent
$2,151/Month
Year-Over-Year Rent Change
2.9%
TransitScore® Rating
22/100
Units Available
20 Rentals
When you’re looking for a great Lake Oswego neighborhood on a budget, check out Westlake. The average rent is $2,151, compared to the city average of $1,856. Rent prices have increased by 2.9%. Westlake is convenient to Beaverton Transit Center (Blue, Red Lines), Milwaukie/Main St Max Station, and Portland C.C., Sylvania Campus. The community is somewhat walkable with a WalkScore® of 57.
Lake Forest
Average Rent
$2,172/Month
Year-Over-Year Rent Change
5.6%
TransitScore® Rating
21/100
Units Available
43 Rentals
Lake Forest is an affordable neighborhood in Lake Oswego with an average rent price of $2,172. Compare this to the city average of $1,856. In the past year, rent prices have decreased by 5.6%. Lake Forest provides easy access to Oregon Health & Science Univ., Milwaukie/Main St Max Station, and Beaverton Transit Center (Blue, Red Lines). It’s a somewhat walkable neighborhood with a WalkScore® of 62.
Walluga
Average Rent
$2,341/Month
Year-Over-Year Rent Change
0.4%
TransitScore® Rating
21/100
Units Available
14 Rentals
If you’re looking for a great, affordable neighborhood in Lake Oswego, Walluga might be the perfect place! It has an average rent price of $2,341, while the city’s average stands at $1,856. In the last year, prices have increased by 0.4%. Walluga is near Mercantile Village II, Maricara Natural Area, and Kruse Village.
Evergreen
Average Rent
$2,450/Month
Year-Over-Year Rent Change
11.7%
TransitScore® Rating
32/100
Units Available
10 Rentals
Evergreen is a top choice for budget-conscious renters for a variety of reasons. The average rent in Evergreen is $2,450 while the city average is $1,856. This is a -11.7% difference from last year. Residents enjoy convenient access to Marshall Park (Portland), Se 17Th Ave & Holgate Blvd Max Station, and Portland C.C., Sylvania Campus. The neighborhood is considered walkable 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.