Best Affordable 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 April 27, 2026, the average rent in Lake Oswego is $1,884, 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.
Mt Park
Average Rent
$1,612/Month
Year-Over-Year Rent Change
0.2%
Units Available
32 Rentals
Mt Park is an affordable neighborhood in Lake Oswego with an average rent price of $1,612. Compare this to the city average of $1,884. In the past year, rent prices have decreased by 0.2%. Mt Park provides easy access to Sw Lowell & Bond, Oregon Health & Sci Waterfront, and Milwaukie/Main St Max Station.
Westlake
Average Rent
$1,859/Month
Year-Over-Year Rent Change
4.2%
Units Available
12 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 $1,859, while the city’s average stands at $1,884. In the last year, prices have increased by 4.2%. Westlake is near Beaverton Transit Center (Blue, Red Lines), Westlake Village, and Se Park Ave Max Station.
Lake Forest
Average Rent
$2,082/Month
Year-Over-Year Rent Change
3.1%
Units Available
39 Rentals
Lake Forest is a top choice for budget-conscious renters for a variety of reasons. The average rent in Lake Forest is $2,082 while the city average is $1,884. This is a -3.1% difference from last year. Residents enjoy convenient access to Aldergrove Center, West Portland Park Natural Area, and Lake Grove Shopping Center.
Walluga
Average Rent
$2,180/Month
Year-Over-Year Rent Change
5.6%
Units Available
21 Rentals
When you’re looking for a great Lake Oswego neighborhood on a budget, check out Walluga. The average rent is $2,180, compared to the city average of $1,884. Rent prices have increased by 5.6%. Walluga is convenient to Mercantile Village II, Milwaukie/Main St Max Station, and Maricara Natural Area.
Evergreen
Average Rent
$2,462/Month
Year-Over-Year Rent Change
3%
Units Available
21 Rentals
Evergreen is an affordable neighborhood in Lake Oswego with an average rent price of $2,462. Compare this to the city average of $1,884. In the past year, rent prices have decreased by 3%. Evergreen provides easy access to Lewis & Clark College, Luscher Farm, and Tryon Creek State Natural Area.
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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.