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 February 18, 2025, the average rent in Lake Oswego is $1,829, which is 0.6% 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
$1,731/Month
Year-Over-Year Rent Change
1.1%
TransitScore® Rating
28/100
Units Available
38 Rentals
Mt Park is an affordable neighborhood in Lake Oswego with an average rent price of $1,731. Compare this to the city average of $1,829. In the past year, rent prices have increased by 1.1%. Mt Park provides easy access to Portland International, Kruse Village, and Foley-Balmer Natural Area. It’s a car-dependent neighborhood with a WalkScore® of 45.
Foothills
Average Rent
$1,861/Month
Year-Over-Year Rent Change
1.7%
TransitScore® Rating
32/100
Units Available
11 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 $1,861, while the city’s average stands at $1,829. In the last year, prices have decreased by 1.7%. Foothills is near Elk Rock Gardens of the Bishop's Close, Se Bybee Blvd Max Station, and Clackamas Town Center Transit Center.
Oldtown
Average Rent
$1,861/Month
TransitScore® Rating
32/100
Units Available
11 Rentals
Oldtown is a top choice for budget-conscious renters for a variety of reasons. The average rent in Oldtown is $1,861 while the city average is $1,829. Residents enjoy convenient access to Lake Place Shopping Center, Se Park Ave Max Station, and Portland C.C., Sylvania Campus. The neighborhood is considered walkable with a WalkScore® of 83.
Westlake
Average Rent
$1,946/Month
Year-Over-Year Rent Change
3.4%
TransitScore® Rating
22/100
Units Available
12 Rentals
When you’re looking for a great Lake Oswego neighborhood on a budget, check out Westlake. The average rent is $1,946, compared to the city average of $1,829. Rent prices have decreased by 3.4%. Westlake is convenient to Se Park Ave Max Station, Beaverton Transit Center (Blue, Red Lines), and Milwaukie/Main St Max Station. The community is somewhat walkable with a WalkScore® of 57.
Lake Forest
Average Rent
$2,182/Month
Year-Over-Year Rent Change
0.4%
TransitScore® Rating
21/100
Units Available
34 Rentals
Lake Forest is an affordable neighborhood in Lake Oswego with an average rent price of $2,182. Compare this to the city average of $1,829. In the past year, rent prices have decreased by 0.4%. Lake Forest provides easy access to Tryon Creek State Natural Area, Oregon Health & Science Univ., and Oregon Health & Sci Waterfront. It’s a somewhat walkable neighborhood with a WalkScore® of 62.
Walluga
Average Rent
$2,286/Month
Year-Over-Year Rent Change
0.6%
TransitScore® Rating
21/100
Units Available
15 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 $2,286, while the city’s average stands at $1,829. In the last year, prices have increased by 0.6%. Walluga is near Lewis & Clark College, Milwaukie/Main St Max Station, and Portland International.
Evergreen
Average Rent
$2,725/Month
Year-Over-Year Rent Change
6.1%
TransitScore® Rating
32/100
Units Available
15 Rentals
Evergreen is a top choice for budget-conscious renters for a variety of reasons. The average rent in Evergreen is $2,725 while the city average is $1,829. This is a 6.1% difference from last year. Residents enjoy convenient access to Marshall Park (Portland), Se Bybee Blvd Max Station, and Se Tacoma/Johnson Creek Max Station. 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.