Best Affordable Neighborhoods in Lake Oswego, OR
Some of the cheapest neighborhoods in Lake Oswego are Mt Park, Lakewood, and Westlake. These neighborhoods offer some of the lowest rent prices in Lake Oswego, making them ideal for renters on a budget. As of March 13, 2026, the average rent in Lake Oswego is $1,849, 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
$1,624/Month
Year-Over-Year Rent Change
1.6%
TransitScore® Rating
28/100
Units Available
36 Rentals
Mt Park is an affordable neighborhood in Lake Oswego with an average rent price of $1,624. Compare this to the city average of $1,849. In the past year, rent prices have increased by 1.6%. Mt Park provides easy access to Se Bybee Blvd Max Station, Lake Grove Center, and Se Tacoma/Johnson Creek Max Station. It’s a car-dependent neighborhood with a WalkScore® of 45.
Lakewood
Average Rent
$1,718/Month
Year-Over-Year Rent Change
1%
TransitScore® Rating
31/100
Units Available
11 Rentals
If you’re looking for a great, affordable neighborhood in Lake Oswego, Lakewood might be the perfect place! It has an average rent price of $1,718, while the city’s average stands at $1,849. In the last year, prices have increased by 1%. Lakewood is near Lewis & Clark College, Se Park Ave Max Station, and Elk Rock Gardens of the Bishop's Close.
Westlake
Average Rent
$1,733/Month
Year-Over-Year Rent Change
10.1%
TransitScore® Rating
22/100
Units Available
19 Rentals
Westlake is a top choice for budget-conscious renters for a variety of reasons. The average rent in Westlake is $1,733 while the city average is $1,849. This is a -10.1% difference from last year. Residents enjoy convenient access to Westlake Village, Portland International, and Portland C.C., Sylvania Campus. The neighborhood is considered somewhat walkable with a WalkScore® of 57.
Meadows
Average Rent
$1,733/Month
Units Available
19 Rentals
When you’re looking for a great Lake Oswego neighborhood on a budget, check out Meadows. The average rent is $1,733, compared to the city average of $1,849. Meadows is convenient to West Portland Park Natural Area, Sw Lowell & Bond, and Kruse Village.
Kruseway Commons
Average Rent
$1,733/Month
TransitScore® Rating
22/100
Units Available
19 Rentals
Kruseway Commons is an affordable neighborhood in Lake Oswego with an average rent price of $1,733. Compare this to the city average of $1,849. Kruseway Commons provides easy access to Westlake Village, Luscher Farm, and Maricara Natural Area. It’s a walkable neighborhood with a WalkScore® of 77.
Lake Forest
Average Rent
$1,974/Month
Year-Over-Year Rent Change
1.6%
TransitScore® Rating
21/100
Units Available
48 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 $1,974, while the city’s average stands at $1,849. In the last year, prices have increased by 1.6%. Lake Forest is near Beaverton Transit Center (Blue, Red Lines), Luscher Farm, and Aldergrove Center.
Evergreen
Average Rent
$2,298/Month
Year-Over-Year Rent Change
9.6%
TransitScore® Rating
32/100
Units Available
25 Rentals
Evergreen is a top choice for budget-conscious renters for a variety of reasons. The average rent in Evergreen is $2,298 while the city average is $1,849. This is a 9.6% difference from last year. Residents enjoy convenient access to Clackamas C.C., Harmony Campus, Luscher Farm, and Portland C.C., Sylvania Campus. The neighborhood is considered walkable with a WalkScore® of 92.
Walluga
Average Rent
$2,361/Month
Year-Over-Year Rent Change
1.7%
TransitScore® Rating
21/100
Units Available
17 Rentals
When you’re looking for a great Lake Oswego neighborhood on a budget, check out Walluga. The average rent is $2,361, compared to the city average of $1,849. Rent prices have increased by 1.7%. Walluga is convenient to Portland C.C., Sylvania Campus, Milwaukie/Main St Max Station, and Lake Grove Center. The community is walkable with a WalkScore® of 76.
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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.