Cheap Apartments for Rent in Lake Oswego, OR from $800 (124 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
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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
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Jackson Square
2 Bedroom Apartments

Jackson Square

5318 Lakeview BlvdLake Oswego, OR 97035

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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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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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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Lake Oswego, OR Local Guide

Cheapest Neighborhoods for Apartments in Lake Oswego, OR

Pricing Updated: 09/13/2025

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$2,510$1,10071

Cheapest Available Lake Oswego Apartments for Rent

 

The cheapest available apartment rental in Lake Oswego, OR is a 2 Beds unit found at The York in the Far Southwest Portland neighborhood priced from $195. Quail Ridge Apartments in the Far Southwest Portland neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,050. Here is today’s list of the most affordable Lake Oswego apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The York2x1L2BR,1BA$195
Quail Ridge ApartmentsStudio LargeStudio,1BA$1,050
Alongside Senior Apartments1 Bedroom1BR,1BA$1,096
Rolling Hills ApartmentsSuper Studio1BR,1BA$1,160
Oak Grove Village Apartments1 Bed 1 Bath1BR,1BA$1,225
Capitol Park1 bed-1 bath1BR,1BA$1,250
Red Rock Commons1 Bed 1 Bath1BR,1BA$1,260
Miramonte LodgeMorrisonStudio,1BA$1,265
1 Bedroom in Multnomah Village1 Bed / 1 Bath1BR,1BA$1,295
Barbur Heights Apartments1 Bedroom / 1.0 Bath1BR,1BA$1,295

Best Value Apartments for Rent in Lake Oswego, OR

As of September 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 3bd1bth Model at Grace Manor Apartments starting at $1,850 with a $1.80 price per square foot in the Far Southwest Portland 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
Grace Manor Apartments3bd1bth3BR,1BA$1.80
Tara West Apartments2 Bedroom / 1.0 Bath townhome2BR,1.5BA$1.59
Fox Pointe2 Bedroom, 1 Bath B2BR,1BA$1.59
Gatehouse Apartments2x22BR,2BA$1.67
Maple Grove Court2x12BR,1BA$1.77
The York2x1L2BR,1BA$0.22
Ridgeview Terrace2x22BR,2BA$1.82
Timber Terrace2X12BR,1BA$1.80
Oak GroveONE BED1BR,1BA$1.82

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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 $1,295.

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 $2,510.

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 14 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 $321 which is $2,189 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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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.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.

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

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.