Cheap Apartments for Rent in the Westlake Neighborhood of Lake Oswego, OR from $650 (72 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Lifestyle Matching SearchDone
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

close
View Me
Parkridge Apartments
Rent Specials
$1,455 - $2,960

Total Monthly Price

Base Rent$1,455 - $2,960

Total Monthly PriceVaries
Studio to 3 Bedroom Apartments Available Now

Parkridge Apartments

215 Greenridge DrLake Oswego, OR 97035
Affordability
  • Verified
  • Customer Reviewed
  • 3D Tour
close
View Me
Mercato Grove
Rent Specials
$1,900 - $5,724

Total Monthly Price

Base Rent$1,900 - $5,724

Total Monthly PriceVaries
Studio to 3 Bedroom Apartments Available Now

Mercato Grove

3975-4055 Mercantile DrLake Oswego, OR 97035
Family Friendly
  • Verified
  • Customer Reviewed
  • 3D Tour

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

close
View Me
Willow Apartments
$2,082 - $4,830

Total Monthly Price

Base Rent$2,082 - $4,830

Total Monthly PriceVaries
1 to 3 Bedroom Apartments Available Now

Willow Apartments

5600 Meadows RdLake Oswego, OR 97035
Eco-Friendly
  • Verified
  • Customer Reviewed
  • 3D Tour
close
View Me
ReNew Laurelwood
1 to 3 Bedroom Apartments

ReNew Laurelwood

3855 Lake Grove AveLake Oswego, OR 97035
Corporate Housing
  • Utilities Included
close
View Me
Haven Lake Oswego
1 to 2 Bedroom Apartments

Haven Lake Oswego

15000 Davis LnLake Oswego, OR 97035
Corporate Housing

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

close
View Me
The Overland
Rent Specials
$1,329 - $3,394

Total Monthly Price

Base Rent$1,329 - $3,394

Total Monthly PriceVaries
Studio to 3 Bedroom Apartments Available Now

The Overland

11974 SW 72nd AveTigard, OR 97223
Pet Friendly
  • Verified
  • Customer Reviewed
  • Smoke Free
close
View Me
Attwell off Main
Rent Specials
$1,341 - $4,196

Total Monthly Price

Base Rent$1,341 - $4,196

Total Monthly PriceVaries
Studio to 3 Bedroom Apartments Available Now

Attwell off Main

12850 SW Ash AveTigard, OR 97223
Corporate Housing
  • Verified
  • Customer Reviewed
  • 3D Tour

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

close
View Me
Oak Street Lofts
Rent Specials
$1,556 - $3,111

Total Monthly Price

Base Rent$1,556 - $3,111

Total Monthly PriceVaries
Studio to 2 Bedroom Apartments Available Now

Oak Street Lofts

8920 SW Oak StTigard, OR 97223
Eco-Friendly
  • Verified
  • Customer Reviewed
  • 3D Tour
property at 1404 SW Dickinson Ln
$1,750

Total Monthly Price

Base Rent$1,750

Total Monthly Price$1,750
1 Bedroom, 1 Bath Home for Rent
Available Now
Luxury

1404 SW Dickinson Ln

PortlandOR97219
  • Smoke Free
close
View Me
Terrace Glen
Studio to 4 Bedroom Apartments

Terrace Glen

9660 SW Greenburg RdPortland, OR 97223
close
View Me
ViewFinder Apartments
1 to 3 Bedroom Apartments

ViewFinder Apartments

11600 SW 72nd AveTigard, OR 97223
  • Utilities Included

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

Westlake, Lake Oswego, OR Local Guide

Cheapest Available Westlake Apartments for Rent

 

The cheapest available apartment rental in the Westlake area of Portland, OR is a 1 Bed unit found at Terrace Glen priced from $650. Ridgeview Terrace has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,200. Here are the most affordable Westlake apartments for rent in Portland, OR:

Apartment ListingModel NameBed/BathPriced From
Terrace GlenOne Bed One Bath1BR,1BA$650
Ridgeview Terrace1x11BR,1BA$1,200
Greenburg OaksTWO BEDROOM2BR,1BA$1,240
Capitol Park1 bed-1 bath1BR,1BA$1,250
St James on Hall Apartments1BD 1BA1BR,1BA$1,299
ShenandoahOne Bedroom1BR,1BA$1,325
Carleton Terrace Apartments2 Bed 1 Bath2BR,1BA$1,325
The OverlandStudioStudio,1BA$1,329
Hunt ClubPlan A11BR,1BA$1,332
The FieldsONE BEDROOM1BR,1BA$1,356

Best Value Apartments for Rent in Westlake, OR

As of September 04, 2026 the best value apartment in the Westlake area is the $1.62 price per square foot 3 Bed Townhome Model at Capitol Gardens in the in the Far Southwest Portland neighborhood starting from $1,950. The second greatest value Westlake apartment is the THREE BEDROOM Model at Greenburg Oaks starting at $1,558 with a $1.35 price per square foot in the Far Southwest Portland neighborhood. Here is today’s list of the best values for Westlake apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Capitol Gardens3 Bed Townhome3BR,1.5BA$1.62
Greenburg OaksTHREE BEDROOM3BR,1BA$1.35
Hampton Ridge Apartments2 Bedroom 2 Bath2BR,2BA$1.90
Gatehouse Apartments2x22BR,2BA$1.72
LuDon LuradelSpacious 2-Bedroom at Luradel | ONE MONTH FREE!...2BR,1BA$1.67
Fairfield Park ApartmentsUpstairs2BR,1BA$1.76
The Village Apartments2 Beds, 1 Baths2BR,1BA$1.68
Quail Ridge Apartments2 Bedroom, 1 Bath Large2BR,1BA$1.79
Carleton Terrace Apartments2 Bed 1 Bath2BR,1BA$1.74
Capitol Park1 bed-1 bath1BR,1BA$1.79

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.

Read Article
Decorative image

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.

Read Article

Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

Read Article
Decorative image

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.

decorative image of people with a giant lease agreement

Pet Friendly Lifestyle
Westlake, Lake Oswego, OR

Ranked #2

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

decorative image of woman handing cat to small boy

Lifestyle Ratings

ApartmentHomeLiving brings you Lifestyle Ratings of rentals in cities across the United States and customized analysis for Southwestern Portland. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including searching for the best amenities, and convenient access to the outdoors, transit availability, pet-friendly communities, places to raise kids, walking, and biking. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap Westlake Apartments

What is a cheap apartment in Westlake?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Westlake is under $1,356.

What is the price of a cheap apartment in Westlake?

The cheapest apartment in Westlake is Terrace Glen which is listed at $650, while the average apartment in Westlake costs $1,984.

What types of apartments are the cheapest in Westlake?

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 13 regular apartments in Westlake 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 Westlake?

Cheap apartments in Westlake have an average cost of $237 which is $1,747 cheaper than the average rent for all rentals in Westlake.

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

decorative image for From Arts to Eats: A Local Insider's Guide to Living in Portland's Best Spots article

From Arts to Eats: A Local Insider's Guide to Living in Portland's Best Spots

Written by: Chad Deitchley

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.

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

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.

decorative image for Local Guide To the Best Student Friendly Neighborhoods to Rent Near Colleges in Portland article

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.

decorative image for A Portland Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent article

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.

Articles, How-To's, and Tips

decorative image for Rent According to Income: A Look at Income-Restricted Rentals   article

Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

decorative image for Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My! article

Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

Written by: Robin Stewart

Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

decorative image for Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags   article

Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

decorative image for First Apartment Regrets: Real Renters Share What They'd Do Differently article

First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.