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 16, 2025, the average rent in Lake Oswego is $1,862, which is 2.3% 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

$1,714/Month

Year-Over-Year Rent Change

2.3%

TransitScore® Rating

28/100

Units Available

34 Rentals

When you’re looking for a great Lake Oswego neighborhood on a budget, check out Mt Park. The average rent is $1,714, compared to the city average of $1,862. Rent prices have increased by 2.3%. Mt Park is convenient to Portland International, Kruse Village, and Oregon Health & Science Univ.. The community is car-dependent with a WalkScore® of 45.

Foothills

Average Rent

$1,902/Month

Year-Over-Year Rent Change

2.1%

TransitScore® Rating

32/100

Units Available

5 Rentals

Foothills is an affordable neighborhood in Lake Oswego with an average rent price of $1,902. Compare this to the city average of $1,862. In the past year, rent prices have increased by 2.1%. Foothills provides easy access to Se Park Ave Max Station, Elk Rock Gardens of the Bishop's Close, and Reed College. It’s a walkable neighborhood with a WalkScore® of 74.

Oldtown

Average Rent

$1,902/Month

TransitScore® Rating

32/100

Units Available

5 Rentals

If you’re looking for a great, affordable neighborhood in Lake Oswego, Oldtown might be the perfect place! It has an average rent price of $1,902, while the city’s average stands at $1,862. Oldtown is near Lewis & Clark College, Oswego Village, and Tryon Creek State Natural Area.

Westlake

Average Rent

$2,088/Month

Year-Over-Year Rent Change

3.2%

TransitScore® Rating

22/100

Units Available

18 Rentals

Westlake is a top choice for budget-conscious renters for a variety of reasons. The average rent in Westlake is $2,088 while the city average is $1,862. This is a 3.2% difference from last year. Residents enjoy convenient access to Kruse Village, Se Tacoma/Johnson Creek Max Station, and Oregon Health & Science Univ.. The neighborhood is considered somewhat walkable with a WalkScore® of 57.

Lake Forest

Average Rent

$2,177/Month

Year-Over-Year Rent Change

2.4%

TransitScore® Rating

21/100

Units Available

43 Rentals

When you’re looking for a great Lake Oswego neighborhood on a budget, check out Lake Forest. The average rent is $2,177, compared to the city average of $1,862. Rent prices have increased by 2.4%. Lake Forest is convenient to Se Tacoma/Johnson Creek Max Station, Se Park Ave Max Station, and Portland International. The community is somewhat walkable with a WalkScore® of 62.

Walluga

Average Rent

$2,373/Month

Year-Over-Year Rent Change

1.7%

TransitScore® Rating

21/100

Units Available

16 Rentals

Walluga is an affordable neighborhood in Lake Oswego with an average rent price of $2,373. Compare this to the city average of $1,862. In the past year, rent prices have increased by 1.7%. Walluga provides easy access to Se Park Ave Max Station, Milwaukie/Main St Max Station, and Maricara Natural Area. It’s a walkable neighborhood with a WalkScore® of 76.

Evergreen

Average Rent

$2,819/Month

Year-Over-Year Rent Change

4.8%

TransitScore® Rating

32/100

Units Available

15 Rentals

If you’re looking for a great, affordable neighborhood in Lake Oswego, Evergreen might be the perfect place! It has an average rent price of $2,819, while the city’s average stands at $1,862. In the last year, prices have increased by 4.8%. Evergreen is near Lewis & Clark College, Clackamas C.C., Harmony Campus, and Se Tacoma/Johnson Creek Max Station.

Ready to make your move to Lake Oswego? Check out the rent specials, price drops, and great deals on ApartmentFinder.com!

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.