Most Affordable Neighborhoods in Lake Oswego, OR
Some of the cheapest neighborhoods in Lake Oswego are Mt Park, Westlake, and Meadows. These neighborhoods offer some of the lowest rent prices in Lake Oswego, making them ideal for renters on a budget. As of June 14, 2025, the average rent in Lake Oswego is $1,894, which is 0.1% 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
$1,715/Month
Year-Over-Year Rent Change
1.5%
TransitScore® Rating
28/100
Units Available
34 Rentals
Mt Park is an affordable neighborhood in Lake Oswego with an average rent price of $1,715. Compare this to the city average of $1,894. In the past year, rent prices have increased by 1.5%. Mt Park provides easy access to West Portland Park Natural Area, Milwaukie/Main St Max Station, and Portland C.C., Sylvania Campus. It’s a car-dependent neighborhood with a WalkScore® of 45.
Westlake
Average Rent
$2,099/Month
Year-Over-Year Rent Change
0.6%
TransitScore® Rating
22/100
Units Available
13 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 $2,099, while the city’s average stands at $1,894. In the last year, prices have decreased by 0.6%. Westlake is near Lesser Park, Oregon Health & Science Univ., and Kruse Village.
Meadows
Average Rent
$2,099/Month
Units Available
13 Rentals
Meadows is a top choice for budget-conscious renters for a variety of reasons. The average rent in Meadows is $2,099 while the city average is $1,894. Residents enjoy convenient access to Kruse Village, Westlake Village, and Milwaukie/Main St Max Station.
Kruseway Commons
Average Rent
$2,099/Month
TransitScore® Rating
22/100
Units Available
13 Rentals
When you’re looking for a great Lake Oswego neighborhood on a budget, check out Kruseway Commons. The average rent is $2,099, compared to the city average of $1,894. Kruseway Commons is convenient to Westlake Village, Portland International, and Luscher Farm. The community is walkable with a WalkScore® of 77.
Walluga
Average Rent
$2,175/Month
Year-Over-Year Rent Change
7.6%
TransitScore® Rating
21/100
Units Available
15 Rentals
Walluga is an affordable neighborhood in Lake Oswego with an average rent price of $2,175. Compare this to the city average of $1,894. In the past year, rent prices have decreased by 7.6%. Walluga provides easy access to Milwaukie/Main St Max Station, Luscher Farm, and Oregon Health & Science Univ.. It’s a walkable neighborhood with a WalkScore® of 76.
Lake Forest
Average Rent
$2,228/Month
Year-Over-Year Rent Change
5.8%
TransitScore® Rating
21/100
Units Available
32 Rentals
If you’re looking for a great, affordable neighborhood in Lake Oswego, Lake Forest might be the perfect place! It has an average rent price of $2,228, while the city’s average stands at $1,894. In the last year, prices have decreased by 5.8%. Lake Forest is near Portland C.C., Sylvania Campus, Se Bybee Blvd Max Station, and Se Park Ave 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.