
Cheap Homes for Rent in First Addition Neighborhood of Lake Oswego, OR from $1,300 (6 Rentals)
Search the lowest-cost Homes available for rent right now in the First Addition area of Lake Oswego.


13455 SE Oatfield Rd

13283 SE Oatfield Rd

47 Eagle Crest Dr

45 Eagle Crest Dr

246 Ridgeway Rd
First Addition, Lake Oswego, OR Local Guide

How much does it cost to rent a home in First Addition?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| First Addition 2 Bedroom Homes for Rent | $2,150 | $1,395 | $3,495 |
| First Addition 3 Bedroom Homes for Rent | $3,097 | $2,150 | $5,250 |
| First Addition 4 Bedroom Homes for Rent | $3,630 | $2,695 | $5,200 |
Browse Homes for Rent in this Neighborhood
There are currently 6 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
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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 Lake Village priced from $1,050. Park Hamlin - 2323 SE Harrison has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,295. Here are the most affordable First Addition apartments for rent in Portland, OR:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Lake Village | 0x1 | Studio,1BA | $1,050 |
| Park Hamlin - 2323 SE Harrison | 1BR/1.0BA | 1BR,1BA | $1,295 |
| Overlook at the Willamette | Studio | Studio,1BA | $1,380 |
Best Value Apartments for Rent in First Addition, OR
As of October 29, 2025 the best value apartment in the First Addition area is the $1.50 price per square foot 2x1.5 Model at Willamette Townhouse in the in the Eastmoreland neighborhood starting from $1,650. The second greatest value First Addition apartment is the 2BR/1.5BA Model at PARG -Risley & East Avenue starting at $1,475 with a $1.34 price per square foot in the Glenmorrie 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. |
|---|---|---|---|
| Willamette Townhouse | 2x1.5 | 2BR,1.5BA | $1.50 |
| PARG -Risley & East Avenue | 2BR/1.5BA | 2BR,1.5BA | $1.34 |
| Parkridge Apartments | 2x1 | 2BR,1BA | $2.21 |
| Miramonte Lodge | St. Johns | 1BR,1BA | $1.97 |
| Images Springcreek Apartments | 1BR/1.0BA | 1BR,1BA | $2.39 |
| 9727 SE 33rd Ave, Unit 1 | 9727 SE 33rd Ave | 1BR,1BA | $2.25 |
| 1691 Parrish St, Unit Your home away from home | 1691 Parrish St | 1BR,1BA | $2.56 |
| Overlook at the Willamette | One Bedroom | 1BR,1BA | $2.46 |
| Banbury Apartments | One Bedroom/A | 1BR,1BA | $2.35 |
| Park Hamlin - 2323 SE Harrison | 1BR/1.0BA | 1BR,1BA | $2.50 |
Quick Rent Budget Calculator
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Pet Friendly LifestyleFirst Addition, Lake Oswego, OR
Ranked #14
Among cities in Oregon for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
3.0Pet Friendly
Best Local Schools in First Addition, Lake Oswego, OR
Forest Hills Elementary School
Lake Oswego Senior High School
School data provided by Great Schools
Frequently Asked Questions about First Addition
What type of rentals are currently available in First Addition?
There are currently 112 Apartments for Rent in First Addition, OR with pricing that ranges from $1,050 to $5,748. There are also 22 Single Family Homes for rent, Condos, and Townhome rentals currently available in First Addition ranging from $1,395 to $5,250.
What is the current price range for Rental Homes in First Addition?
Today's rental pricing for Homes for Rent, Condos and Townhomes in First Addition ranges from $1,395 to $5,250 with an average monthly rent of $2,697.
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.

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.

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.

How to Negotiate Your Apartment Lease and Save Money
Written by: Christine Leonard, Esq.
Everything is a negotiation in real estate!

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.