Most Affordable Neighborhoods in Lake Oswego, OR
Some of the cheapest neighborhoods in Lake Oswego are Mt Park, Lake Forest, and Walluga. These neighborhoods offer some of the lowest rent prices in Lake Oswego, making them ideal for renters on a budget. As of July 30, 2025, the average rent in Lake Oswego is $1,857, which is 1.5% 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
$1,658/Month
Year-Over-Year Rent Change
0.4%
TransitScore® Rating
28/100
Units Available
17 Rentals
Mt Park is an affordable neighborhood in Lake Oswego with an average rent price of $1,658. Compare this to the city average of $1,857. In the past year, rent prices have increased by 0.4%. Mt Park provides easy access to Oregon Health & Sci Waterfront, Se Bybee Blvd Max Station, and Lake Grove Center. It’s a car-dependent neighborhood with a WalkScore® of 45.
Lake Forest
Average Rent
$2,091/Month
Year-Over-Year Rent Change
4.3%
TransitScore® Rating
21/100
Units Available
28 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 $2,091, while the city’s average stands at $1,857. In the last year, prices have decreased by 4.3%. Lake Forest is near Maricara Natural Area, Lake Grove Shopping Center, and Se Park Ave Max Station.
Walluga
Average Rent
$2,122/Month
Year-Over-Year Rent Change
2.2%
TransitScore® Rating
21/100
Units Available
11 Rentals
Walluga is a top choice for budget-conscious renters for a variety of reasons. The average rent in Walluga is $2,122 while the city average is $1,857. This is a -2.2% difference from last year. Residents enjoy convenient access to Se Park Ave Max Station, Maricara Natural Area, and Lake Grove Center. The neighborhood is considered walkable with a WalkScore® of 76.
Ready to make your move to Lake Oswego? Check out the rent specials, price drops, and great deals on ApartmentFinder.com!
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.