Cheap Apartments for Rent in Lake Oswego, OR from $800 (126 Rentals)

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Search the lowest-cost Apartments available for rent right now in Lake Oswego.

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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Northshore Apartments
Studio to 3 Bedroom Apartments

Northshore Apartments

50 Northshore RdLake Oswego, OR 97034
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ReNew Laurelwood
1 to 3 Bedroom Apartments

ReNew Laurelwood

3855 Lake Grove AveLake Oswego, OR 97035
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Jackson Square
2 Bedroom Apartments

Jackson Square

5318 Lakeview BlvdLake Oswego, OR 97035

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Portland’s Best Affordable Neighborhoods

Learn about Portland and the best places to live with original content written by our Portland, OR Local Expert Chad Deitchley

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Lake Oswego, OR Local Guide

Cheapest Neighborhoods for Apartments in Lake Oswego, OR

Pricing Updated: 07/29/2025

Current apartment rentals in the Lake Oswego, OR area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Lake Oswego Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Oldtown$2,435$1,15687

Cheapest Available Lake Oswego Apartments for Rent

 

The cheapest available apartment rental in Lake Oswego, OR is a 1 Bed unit found at Alongside Senior Apartments in the Far Southwest Portland neighborhood priced from $1,096. Indian Hills Apartments in the Far Southwest Portland neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,100. Here is today’s list of the most affordable Lake Oswego apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Alongside Senior Apartments1 Bedroom1BR,1BA$1,096
Indian Hills ApartmentsStuidoStudio,1BA$1,100
Todd Village ApartmentsMt. BakerStudio,1BA$1,170
Oak Grove Village Apartments1 Bed 1 Bath1BR,1BA$1,225
Red Rock Commons1 Bed 1 Bath1BR,1BA$1,260
Dutch Village Apartments0x1Studio,1BA$1,275
Driftwood Terrace Apartments1x11BR,1BA$1,295
Barbur Heights Apartments1 Bedroom / 1.0 Bath1BR,1BA$1,295
Rolling Hills Apartments1 Bedroom 1 Bath1BR,1BA$1,315
Edgewood Manor1BR 1 Bath1BR,1BA$1,325

Best Value Apartments for Rent in Lake Oswego, OR

As of July 29, 2025 the best value apartment in the Lake Oswego area is the $1.71 price per square foot 2 Bed 1.5 Bath Townhome 1130SF Model at Larkspur West Linn in the in the Glenmorrie neighborhood starting from $1,933. The second greatest value Lake Oswego apartment is the 3bd/1.5Bth Model at Westview Townhomes starting at $1,995 with a $1.79 price per square foot in the Glenmorrie neighborhood. Here is today’s list of the best values for Lake Oswego apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Larkspur West Linn2 Bed 1.5 Bath Townhome 1130SF2BR,2BA$1.71
Westview Townhomes3bd/1.5Bth3BR,1.5BA$1.79
1932 Sunburst Ter, Unit Apartment1932 Sunburst Ter1BR,1BA$1.64
Martinazzi Village3 Bed 2 Bath3BR,2BA$1.73
Tara West Apartments2 Bedroom / 1.0 Bath townhome2BR,1.5BA$1.59
Gatehouse Apartments2x22BR,2BA$1.67
The York2x1L2BR,1BA$1.55
ReNew West TualatinSaum2BR,1BA$1.73
Indian Hills Apartments2 Beds 1 Bath2BR,1BA$1.70
Quail Ridge Apartments2 Bedroom, 1 Bath Large2BR,1BA$1.79

Quick Rent Budget Calculator

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The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Pet Friendly Lifestyle
Lake Oswego, OR

Ranked #9

Among cities in Oregon for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Best Local Schools in
Lake Oswego, OR

School data provided by Great Schools

Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Lake Oswego, OR Rentals by Map

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See the most popular apartments and homes in Lake Oswego, OR

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Getting Around Lake Oswego, OR

Walk Score®

63 / 100

Somewhat Walkable

Some errands can be accomplished on foot

Bike Score®

65 / 100

Bikeable

Some bike infrastructure

Transit Score®

25 / 100

Some Transit

A few nearby public transportation options

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Lake Oswego Apartments

What is a cheap apartment in Lake Oswego?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Lake Oswego is under $1,325.

What is the price of a cheap apartment in Lake Oswego?

The cheapest apartment in Lake Oswego is Alongside Senior Apartments which is listed at $1,096, while the average apartment in Lake Oswego costs $2,435.

What types of apartments are the cheapest in Lake Oswego?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 9 regular apartments in Lake Oswego that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Lake Oswego?

Cheap apartments in Lake Oswego have an average cost of $368 which is $2,067 cheaper than the average rent for all rentals in Lake Oswego.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

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A Portland Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent

Written by: Chad Deitchley

As your ApartmentHomeLiving.com Local Expert for Portland, Oregon, I’d like to briefly introduce myself. My name is Chad, and I come to the ApartmentHomeLiving.com team after living in Portland for decades.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.