Cheap Apartments for Rent in Lake Oswego, OR from $800 (133 Rentals)

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

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Northshore Apartments
Studio to 3 Bedroom Apartments

Northshore Apartments

50 Northshore RdLake Oswego, OR 97034
  • Utilities Included
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Mercy Greenbrae
1 to 3 Bedroom Apartments

Mercy Greenbrae

3190 Furman DrLake Oswego, OR 97034
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ReNew Laurelwood
1 to 3 Bedroom Apartments

ReNew Laurelwood

3855 Lake Grove AveLake Oswego, OR 97035
Corporate Housing
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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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Bay Roc Apartments
Studio to 2 Bedroom Apartments

Bay Roc Apartments

667 McVey AveLake Oswego, OR 97034

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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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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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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Lake Oswego, OR Local Guide

Cheapest Neighborhoods for Apartments in Lake Oswego, OR

Pricing Updated: 12/13/2025

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$1,895$1,095108

Cheapest Available Lake Oswego Apartments for Rent

 

The cheapest available apartment rental in Lake Oswego, OR is a 1 Bed unit found at 2222 Apartments in the Far Southwest Portland neighborhood priced from $1,195. 2121 Multnomah in the Far Southwest Portland neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,199. Here is today’s list of the most affordable Lake Oswego apartments for rent:

Apartment ListingModel NameBed/BathPriced From
2222 Apartments1BR/1.0BA1BR,1BA$1,195
2121 Multnomah1x1R1BR,1BA$1,199
Rolling Hills ApartmentsSuper Studio1BR,1BA$1,210
Chelan Apartments96111BR,1BA$1,225
Axletree Apartments - City Vibes, Small Town SoulKELLOGG 1Studio,1BA$1,225
Oak Grove Village Apartments1 Bed 1 Bath1BR,1BA$1,225
Miramonte LodgeMorrisonStudio,1BA$1,235
8417 SW 24th Ave1BR/1.0BA1BR,1BA$1,245
Ridgeview Terrace1x11BR,1BA$1,250

Best Value Apartments for Rent in Lake Oswego, OR

As of December 13, 2025 the best value apartment in the Lake Oswego area is the $1.39 price per square foot 2BR 2 Bath Model at Spring Terrace Apartments in the in the Far Southwest Portland neighborhood starting from $1,450. The second greatest value Lake Oswego apartment is the 2x1 Top Floor Model at Cherry Park Apartments - NK-2717M starting at $1,495 with a $1.53 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.
Spring Terrace Apartments2BR 2 Bath2BR,2BA$1.39
Cherry Park Apartments - NK-2717M2x1 Top Floor2BR,1BA$1.53
Indian Hills Apartments2 Beds 1 Bath2BR,1BA$1.64
Fox Pointe2 Bedroom, 1 Bath B2BR,1BA$1.39
Driftwood Terrace3x13BR,1BA$1.78
Gatehouse Apartments2x22BR,2BA$1.72
Grace Manor Apartments2bd1bth2BR,1BA$1.50
The York2x1L2BR,1BA$1.61
12331 SE Whitcomb Dr., Unit #212331 SE Whitcomb Dr.2BR,1.5BA$1.66
Timber Terrace2X12BR,1BA$1.71

The Portland Power Commute: Top Neighborhoods for Renters Near the City’s Major Job Hubs

Balance work and life in Portland. Explore the neighborhoods for renting that offer great amenities and quick commutes to the city's top major employers. Find your Portland apartment today!

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Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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A Local Experts Guide To the Best Student Friendly Neighborhoods to Rent Near Colleges in Portland

A Local Experts guide to the Best Student Friendly Neighborhoods Near Colleges in the Portland area. Find your perfect Student apartment, condo, or rental home today

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Quick Rent Budget Calculator

How much rent can you afford?

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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Lake Oswego, OR Apartments Map
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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 $1,250.

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

The cheapest apartment in Lake Oswego is 2121 Multnomah which is listed at $1,199, while the average apartment in Lake Oswego costs $1,895.

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 15 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 $275 which is $1,620 cheaper than the average rent for all rentals in Lake Oswego.

Expert Rental Resources

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.

Helpful Local Expert Guides

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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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Local Guide To the Best Student Friendly Neighborhoods to Rent Near Colleges in Portland

Written by: Chad Deitchley

Hello! My name is Chad, and I joined the ApartmentHomeLiving.com team as a Local Expert after living in Portland, Oregon, for more than 20 years. I have a deep love for this charming and vibrant city.

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The Portland Power Commute: Top Neighborhoods for Renters Near the City’s Major Job Hubs

Written by: Chad Deitchley

Let me introduce myself as your ApartmentHomeLiving Local Expert for Portland, Oregon. I’m Chad, and I can attest firsthand to the vibrant and funky nature of this one-of-a-kind city.

Articles, How-To's, and Tips

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.