Best 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 December 12, 2025, the average rent in Lake Oswego is $1,866, which is 0.1% 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
$1,712/Month
Year-Over-Year Rent Change
3.3%
TransitScore® Rating
28/100
Units Available
41 Rentals
When you’re looking for a great Lake Oswego neighborhood on a budget, check out Mt Park. The average rent is $1,712, compared to the city average of $1,866. Rent prices have increased by 3.3%. Mt Park is convenient to Portland International, Milwaukie/Main St Max Station, and Lesser Park. The community is car-dependent with a WalkScore® of 45.
Lake Forest
Average Rent
$1,910/Month
Year-Over-Year Rent Change
2.5%
TransitScore® Rating
21/100
Units Available
20 Rentals
Lake Forest is an affordable neighborhood in Lake Oswego with an average rent price of $1,910. Compare this to the city average of $1,866. In the past year, rent prices have decreased by 2.5%. Lake Forest provides easy access to Aldergrove Center, Luscher Farm, and Maricara Natural Area. It’s a somewhat walkable neighborhood with a WalkScore® of 62.
Walluga
Average Rent
$2,078/Month
Year-Over-Year Rent Change
11.2%
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 $2,078, while the city’s average stands at $1,866. In the last year, prices have decreased by 11.2%. Walluga is near West Portland Park Natural Area, Se Tacoma/Johnson Creek Max Station, and Luscher Farm.
Evergreen
Average Rent
$2,668/Month
Year-Over-Year Rent Change
3.1%
TransitScore® Rating
32/100
Units Available
14 Rentals
Evergreen is a top choice for budget-conscious renters for a variety of reasons. The average rent in Evergreen is $2,668 while the city average is $1,866. This is a 3.1% difference from last year. Residents enjoy convenient access to Se Park Ave Max Station, Marshall Park (Portland), and Reed College. The neighborhood is considered walkable with a WalkScore® of 92.
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.