Most Affordable Neighborhoods in Lake Oswego, OR
Some of the cheapest neighborhoods in Lake Oswego are Lakewood, Mt Park, and Westlake. These neighborhoods offer some of the lowest rent prices in Lake Oswego, making them ideal for renters on a budget. As of April 29, 2025, the average rent in Lake Oswego is $1,870, which is 1.2% 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.
Lakewood
Average Rent
$1,799/Month
Year-Over-Year Rent Change
3.6%
TransitScore® Rating
31/100
Units Available
1 Rentals
When you’re looking for a great Lake Oswego neighborhood on a budget, check out Lakewood. The average rent is $1,799, compared to the city average of $1,870. Rent prices have decreased by 3.6%. Lakewood is convenient to Tryon Creek State Natural Area, Elk Rock Island, and Luscher Farm. The community is walkable with a WalkScore® of 88.
Mt Park
Average Rent
$1,820/Month
Year-Over-Year Rent Change
1.3%
TransitScore® Rating
28/100
Units Available
35 Rentals
Mt Park is an affordable neighborhood in Lake Oswego with an average rent price of $1,820. Compare this to the city average of $1,870. In the past year, rent prices have increased by 1.3%. Mt Park provides easy access to Lake Grove Center, Tryon Creek State Natural Area, and Maricara Natural Area. It’s a car-dependent neighborhood with a WalkScore® of 45.
Westlake
Average Rent
$2,015/Month
Year-Over-Year Rent Change
1.1%
TransitScore® Rating
22/100
Units Available
10 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 $2,015, while the city’s average stands at $1,870. In the last year, prices have decreased by 1.1%. Westlake is near Portland C.C., Sylvania Campus, Se Tacoma/Johnson Creek Max Station, and Milwaukie/Main St Max Station.
Lake Forest
Average Rent
$2,126/Month
Year-Over-Year Rent Change
4.5%
TransitScore® Rating
21/100
Units Available
34 Rentals
Lake Forest is a top choice for budget-conscious renters for a variety of reasons. The average rent in Lake Forest is $2,126 while the city average is $1,870. This is a -4.5% difference from last year. Residents enjoy convenient access to Oregon Health & Sci Waterfront, West Portland Park Natural Area, and Aldergrove Center. The neighborhood is considered somewhat walkable with a WalkScore® of 62.
Oldtown
Average Rent
$2,135/Month
TransitScore® Rating
32/100
Units Available
5 Rentals
When you’re looking for a great Lake Oswego neighborhood on a budget, check out Oldtown. The average rent is $2,135, compared to the city average of $1,870. Oldtown is convenient to Clackamas C.C., Harmony Campus, Elk Rock Island, and Portland C.C., Sylvania Campus. The community is walkable with a WalkScore® of 83.
Walluga
Average Rent
$2,219/Month
Year-Over-Year Rent Change
11.9%
TransitScore® Rating
21/100
Units Available
17 Rentals
Walluga is an affordable neighborhood in Lake Oswego with an average rent price of $2,219. Compare this to the city average of $1,870. In the past year, rent prices have decreased by 11.9%. Walluga provides easy access to Luscher Farm, West Portland Park Natural Area, and Lewis & Clark College. It’s a walkable neighborhood with a WalkScore® of 76.
Foothills
Average Rent
$2,219/Month
Year-Over-Year Rent Change
13.3%
TransitScore® Rating
32/100
Units Available
4 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 $2,219, while the city’s average stands at $1,870. In the last year, prices have increased by 13.3%. Foothills is near Elk Rock Gardens of the Bishop's Close, North Clackamas Park, and Portland International.
Evergreen
Average Rent
$2,727/Month
Year-Over-Year Rent Change
5.5%
TransitScore® Rating
32/100
Units Available
13 Rentals
Evergreen is a top choice for budget-conscious renters for a variety of reasons. The average rent in Evergreen is $2,727 while the city average is $1,870. This is a -5.5% difference from last year. Residents enjoy convenient access to Portland C.C., Sylvania Campus, Elk Rock Gardens of the Bishop's Close, and Portland International. 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.