
Cheap Apartments for Rent in the First Addition Neighborhood of Lake Oswego, OR from $700 (12 Rentals)
Search the lowest-cost Apartments available for rent right now in the First Addition area of Lake Oswego.


Northshore Apartments

620 S Palatine Hill Rd

10514 SW 4th Ave

425 SW Maplecrest Dr

Total Monthly Price
3226 SE Rockwood St
Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
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North Main Village

Courtney Square

Stanford

Dutch Village Apartments

Driftwood Terrace

Tara West Apartments
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.
First Addition, Lake Oswego, OR Local Guide

How much does it cost to rent an apartment in First Addition?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| First Addition Studio Apartments | $1,396 | $1,125 | $2,085 |
| First Addition 1 Bedroom Apartments | $1,802 | $768 | $3,390 |
| First Addition 2 Bedroom Apartments | $2,451 | $1,425 | $7,835 |
| First Addition 3 Bedroom Apartments | $4,302 | $2,495 | $6,110 |
Browse Apartments in this Neighborhood
There are currently 12 rentals with your search options within a 2 mile radius of the First Addition Neighborhood of Lake Oswego, OR.
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First Addition, Lake Oswego, OR Local Guide
- Nearby Lake Oswego neighborhoods
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Cheapest Available First Addition Apartments for Rent
 The cheapest available apartment rental in the First Addition area of Portland, OR is a Studio unit found at Dutch Village Apartments priced from $1,250. Axletree Apartments - City Vibes, Small Town Soul has the second lowest priced unit, which is a Studio apartment currently listed from $1,328. Here are the most affordable First Addition apartments for rent in Portland, OR:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Dutch Village Apartments | 0x1 | Studio,1BA | $1,250 |
| Axletree Apartments - City Vibes, Small Town Soul | KELLOGG 1 | Studio,1BA | $1,328 |
| Miramonte Lodge | Morrison | Studio,1BA | $1,345 |
| Parkridge Apartments | Studio | Studio,1BA | $1,425 |
| Lake Village and Lakewood Apartments | 2 X 1 | 2BR,1BA | $1,425 |
Best Value Apartments for Rent in First Addition, OR
As of March 14, 2026 the best value apartment in the First Addition area is the $2.36 price per square foot 14813 SE Arista Dr Model at 14813 SE Arista Dr, Unit 14813 in the in the Glenmorrie neighborhood starting from $2,495. The second greatest value First Addition apartment is the 2BR/1.0BA Model at Images Springcreek Apartments starting at $2,075 with a $2.05 price per square foot in the Eastmoreland neighborhood. Here is today’s list of the best values for First Addition apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 14813 SE Arista Dr, Unit 14813 | 14813 SE Arista Dr | 3BR,2BA | $2.36 |
| Images Springcreek Apartments | 2BR/1.0BA | 2BR,1BA | $2.05 |
| Henley Place | The River | 2BR,2BA | $2.91 |
| Overlook at the Willamette | Two Bedroom | 2BR,1BA | $2.38 |
| Lake Village and Lakewood Apartments | 2x1 | 2BR,1BA | $1.99 |
| Uptown at Lake Oswego | (258) 1 Bedroom (#51-#1 thru #55-5, #60-10 thru... | 1BR,1BA | $2.59 |
| Parkridge Apartments | Studio | Studio ,1BA | $2.59 |
| Miramonte Lodge | Morrison | Studio ,1BA | $2.78 |
| Axletree Apartments - City Vibes, Small Town Soul | KELLOGG 1 | Studio ,1BA | $2.80 |
| Dutch Village Apartments | 0x1 | Studio ,1BA | $2.78 |
Don't Settle: How to Negotiate Your Apartment Lease and Save Money
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Read ArticleQuick 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.
Best Local Schools in First Addition, Lake Oswego, OR
Forest Hills Elementary School
Lake Oswego Senior High School
School data provided by Great Schools
Lifestyle Ratings
ApartmentHomeLiving brings you Lifestyle Ratings of rentals and neighborhoods across the USA, and customized analysis for Southern Portland. LifeStyle Ratings are the best way to sort through finding a place to live - beyond price and floorplan. This takes in many factors including our Star Ratings to compare for proximity to parks, luxury amenities, transit availability, pet-friendly communities, family-friendliness, walking, and biking. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!
Frequently Asked Questions about Cheap First Addition Apartments
What is the Cheapest Studio apartment in First Addition?
Currently the most affordable Cheap Studio Apartment in First Addition is at Dutch Village Apartments listed at $1,250.
How much is rent for a Cheap One Bedroom First Addition Apartment?
The lowest price for a Cheap One Bedroom First Addition Apartment is $1,275 at Dutch Village Apartments.
What is the lowest price for a Cheap Two Bedroom First Addition Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in First Addition is starting from $1,425 at Lake Village and Lakewood Apartments.
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

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.

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.

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.

From Arts to Eats: A Local Insiders Guide to Living in Portland's Best Spots
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Hello! My name is Chad, and I am your ApartmentHomeLiving.com Local Expert for Portland, Oregon. After living in this one-of-a-kind city for more than 20 years, I have seen it change in many exciting ways.
Articles, How-To's, and Tips

Maximizing Your Refund: Essential Tax Tips for Renters
Written by: Christine Leonard, Esq.
Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property
Written by: Lauren Harrington
Renting your next home can feel thrilling and overwhelming at the same time.

A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment
Written by: Bob Mallory
Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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.