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 October 28, 2025, the average rent in Lake Oswego is $1,921, which is 2.5% 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
$1,777/Month
Year-Over-Year Rent Change
4.2%
TransitScore® Rating
28/100
Units Available
33 Rentals
If you’re looking for a great, affordable neighborhood in Lake Oswego, Mt Park might be the perfect place! It has an average rent price of $1,777, while the city’s average stands at $1,921. In the last year, prices have increased by 4.2%. Mt Park is near Sw Lowell & Bond, Mercantile Village II, and Milwaukie/Main St Max Station.
Westlake
Average Rent
$1,926/Month
Year-Over-Year Rent Change
6.5%
TransitScore® Rating
22/100
Units Available
13 Rentals
Westlake is a top choice for budget-conscious renters for a variety of reasons. The average rent in Westlake is $1,926 while the city average is $1,921. This is a 6.5% difference from last year. Residents enjoy convenient access to Beaverton Transit Center (Blue, Red Lines), West Portland Park Natural Area, and Westlake Village. The neighborhood is considered somewhat walkable with a WalkScore® of 57.
Meadows
Average Rent
$1,926/Month
Units Available
13 Rentals
When you’re looking for a great Lake Oswego neighborhood on a budget, check out Meadows. The average rent is $1,926, compared to the city average of $1,921. Meadows is convenient to Lewis & Clark College, Portland International, and Oregon Health & Science Univ..
Kruseway Commons
Average Rent
$1,926/Month
TransitScore® Rating
22/100
Units Available
13 Rentals
Kruseway Commons is an affordable neighborhood in Lake Oswego with an average rent price of $1,926. Compare this to the city average of $1,921. Kruseway Commons provides easy access to Lewis & Clark College, Westlake Village, and Portland C.C., Sylvania Campus. It’s a walkable neighborhood with a WalkScore® of 77.
Walluga
Average Rent
$2,068/Month
Year-Over-Year Rent Change
4.3%
TransitScore® Rating
21/100
Units Available
15 Rentals
If you’re looking for a great, affordable neighborhood in Lake Oswego, Walluga might be the perfect place! It has an average rent price of $2,068, while the city’s average stands at $1,921. In the last year, prices have decreased by 4.3%. Walluga is near Reed College, Se Park Ave Max Station, and Oregon Health & Science Univ..
Lake Forest
Average Rent
$2,110/Month
Year-Over-Year Rent Change
3.9%
TransitScore® Rating
21/100
Units Available
30 Rentals
Lake Forest is a top choice for budget-conscious renters for a variety of reasons. The average rent in Lake Forest is $2,110 while the city average is $1,921. This is a -3.9% difference from last year. Residents enjoy convenient access to Luscher Farm, Oregon Health & Science Univ., and Lake Grove Shopping Center. The neighborhood is considered somewhat walkable with a WalkScore® of 62.
Evergreen
Average Rent
$2,923/Month
Year-Over-Year Rent Change
12.9%
TransitScore® Rating
32/100
Units Available
11 Rentals
When you’re looking for a great Lake Oswego neighborhood on a budget, check out Evergreen. The average rent is $2,923, compared to the city average of $1,921. Rent prices have increased by 12.9%. Evergreen is convenient to Se Bybee Blvd Max Station, Tryon Creek State Natural Area, and Marshall Park (Portland). The community is walkable 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.