Cheapest Neighborhoods in Lake Oswego, OR
Some of the cheapest neighborhoods in Lake Oswego are Mt Park, Westlake, and Lake Forest. These neighborhoods offer some of the lowest rent prices in Lake Oswego, making them ideal for renters on a budget. As of September 10, 2026, the average rent in Lake Oswego is $1,892, which is 0.3% 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
$1,771/Month
Year-Over-Year Rent Change
2.5%
Units Available
31 Rentals
Mt Park is a top choice for budget-conscious renters for a variety of reasons. The average rent in Mt Park is $1,771 while the city average is $1,892. This is a 2.5% difference from last year. Residents enjoy convenient access to Oregon Health & Sci Waterfront, Lewis & Clark College, and Foley-Balmer Natural Area.
Westlake
Average Rent
$1,827/Month
Year-Over-Year Rent Change
0.7%
Units Available
13 Rentals
When you’re looking for a great Lake Oswego neighborhood on a budget, check out Westlake. The average rent is $1,827, compared to the city average of $1,892. Rent prices have decreased by 0.7%. Westlake is convenient to Oregon Health & Sci Waterfront, Portland C.C., Sylvania Campus, and Se Tacoma/Johnson Creek Max Station.
Lake Forest
Average Rent
$2,105/Month
Year-Over-Year Rent Change
0.3%
Units Available
39 Rentals
Lake Forest is an affordable neighborhood in Lake Oswego with an average rent price of $2,105. Compare this to the city average of $1,892. In the past year, rent prices have decreased by 0.3%. Lake Forest provides easy access to Oregon Health & Science Univ., Beaverton Transit Center (Blue, Red Lines), and Se Tacoma/Johnson Creek Max Station.
Walluga
Average Rent
$2,134/Month
Year-Over-Year Rent Change
0.2%
Units Available
16 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 $2,134, while the city’s average stands at $1,892. In the last year, prices have decreased by 0.2%. Walluga is near 15630 SW Boones Ferry Rd, Milwaukie/Main St Max Station, and Mercato Grove.
Evergreen
Average Rent
$2,349/Month
Year-Over-Year Rent Change
1.7%
Units Available
26 Rentals
Evergreen is a top choice for budget-conscious renters for a variety of reasons. The average rent in Evergreen is $2,349 while the city average is $1,892. This is a -1.7% difference from last year. Residents enjoy convenient access to Se Park Ave Max Station, Country Square Shopping Center, and Tryon Creek State Natural Area.
Lakewood
Average Rent
$2,365/Month
Year-Over-Year Rent Change
2.5%
Units Available
25 Rentals
When you’re looking for a great Lake Oswego neighborhood on a budget, check out Lakewood. The average rent is $2,365, compared to the city average of $1,892. Rent prices have increased by 2.5%. Lakewood is convenient to Se Bybee Blvd Max Station, Se Park Ave Max Station, and Milwaukie/Main St Max Station.
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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.