Best Affordable Neighborhoods in Lake Oswego, OR
Some of the cheapest neighborhoods in Lake Oswego are Mt Park, Westlake, and Kruseway Commons. These neighborhoods offer some of the lowest rent prices in Lake Oswego, making them ideal for renters on a budget. As of January 27, 2026, the average rent in Lake Oswego is $1,875, which is 1.1% 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
$1,678/Month
Year-Over-Year Rent Change
2.8%
TransitScore® Rating
28/100
Units Available
39 Rentals
Mt Park is a top choice for budget-conscious renters for a variety of reasons. The average rent in Mt Park is $1,678 while the city average is $1,875. This is a 2.8% difference from last year. Residents enjoy convenient access to Se Tacoma/Johnson Creek Max Station, Se Bybee Blvd Max Station, and Foley-Balmer Natural Area. The neighborhood is considered car-dependent with a WalkScore® of 45.
Westlake
Average Rent
$1,869/Month
Year-Over-Year Rent Change
3.8%
TransitScore® Rating
22/100
Units Available
17 Rentals
When you’re looking for a great Lake Oswego neighborhood on a budget, check out Westlake. The average rent is $1,869, compared to the city average of $1,875. Rent prices have decreased by 3.8%. Westlake is convenient to Portland C.C., Sylvania Campus, Kruse Village, and Oregon Health & Sci Waterfront. The community is somewhat walkable with a WalkScore® of 57.
Kruseway Commons
Average Rent
$1,869/Month
TransitScore® Rating
22/100
Units Available
17 Rentals
Kruseway Commons is an affordable neighborhood in Lake Oswego with an average rent price of $1,869. Compare this to the city average of $1,875. Kruseway Commons provides easy access to Portland International, Maricara Natural Area, and Kruse Village. It’s a walkable neighborhood with a WalkScore® of 77.
Meadows
Average Rent
$1,897/Month
Units Available
15 Rentals
If you’re looking for a great, affordable neighborhood in Lake Oswego, Meadows might be the perfect place! It has an average rent price of $1,897, while the city’s average stands at $1,875. Meadows is near Milwaukie/Main St Max Station, Portland International, and Oregon Health & Sci Waterfront.
Lake Forest
Average Rent
$1,948/Month
Year-Over-Year Rent Change
6.7%
TransitScore® Rating
21/100
Units Available
31 Rentals
Lake Forest is a top choice for budget-conscious renters for a variety of reasons. The average rent in Lake Forest is $1,948 while the city average is $1,875. This is a 6.7% difference from last year. Residents enjoy convenient access to Aldergrove Center, Lake Grove Plaza, and Lesser Park. The neighborhood is considered somewhat walkable with a WalkScore® of 62.
Walluga
Average Rent
$2,183/Month
Year-Over-Year Rent Change
0.1%
TransitScore® Rating
21/100
Units Available
18 Rentals
When you’re looking for a great Lake Oswego neighborhood on a budget, check out Walluga. The average rent is $2,183, compared to the city average of $1,875. Rent prices have decreased by 0.1%. Walluga is convenient to Milwaukie/Main St Max Station, Lewis & Clark College, and Se Tacoma/Johnson Creek Max Station. The community is walkable with a WalkScore® of 76.
Evergreen
Average Rent
$2,538/Month
Year-Over-Year Rent Change
9.7%
TransitScore® Rating
32/100
Units Available
16 Rentals
Evergreen is an affordable neighborhood in Lake Oswego with an average rent price of $2,538. Compare this to the city average of $1,875. In the past year, rent prices have increased by 9.7%. Evergreen provides easy access to The A Street Station, Se Park Ave Max Station, and Luscher Farm. It’s a walkable neighborhood 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.