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Lake Oswego Apartments For Rent

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Lake Oswego Apartment Options

Avg. RentAnnual Change
Studio - $1,649+22%
1 Bed - $2,228+23%
2 Beds - $3,179+51%
3 Beds - $4,576+177%
Last updated 8/8/2022

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Overview of Lake Oswego

Lake Oswego is an arts-oriented suburb that sits just south of Portland. Lake Oswego is one of the most picturesque towns in the state, known for having some of the most sought-after real estate situated around its namesake 405-acre lake. The city streets feature public outdoor sculpture exhibits and beautiful plants, keeping a certain feeling in the air that is hard to describe. With just more than 18,000 residents, Lake Oswego has a small town comfort and friendly neighbors who come together for community events. Look for Lake Oswego apartments for rent, and find paradise in the Pacific Northwest. 

Living in Lake Oswego, OR

The first inhabitants of the land between the Willamette and Tualatin Rivers were the Clackamas Indians. After thriving here for thousands of years, the Clackamas were driven out of the region by diseases from European traders and explorers who arrived via the Oregon Trail. The Donation Land Claim Act and Homestead Act brought new residents to the area including Alberto Alonzo Durham, who founded Oswego in 1847. Most of the trade in the region happened on the Tualatin River because the thick woods and muddy roads made it difficult to travel by land.

Oswego was a vital member of the iron industry in the 19th century before the Portland and Willamette Valley Railway allowed greater national access to cheaper iron from the Great Lakes region. It wasn't until 1960 that Oswego annexed from Lake Grove to become an independent city. With a close proximity to the unique city of Portland, Lake Oswego apartments are sure to please.

Lake Oswego Work and Study

Marylhurst University, located in town, is neighbored by the number of colleges located 11 miles away in Portland. Portland Community College, Portland State University, Reed College, Lewis & Clark College, Concordia University, National College of Natural Medicine, Multnomah University, University of Western States and Warner Pacific College join the Art Institute of Portland, Pacific Northwest College of Art and Western Culinary institute to offer students a range of educational opportunities in the Northwest.

For those seeking work, the Portland metropolitan area is home to the Nike and Precision Castparts headquarters, which both made the 2012 Fortune 500 list and employ hundreds of people in town. There are more than 2,000 small businesses in Lake Oswego, featuring boutiques, fine dining restaurants and diverse shops.  Many Lake Oswego residents also work in blue collar industries to help support the infrastructure for business and tourism in Portland.

Rentals in Lake Oswego, OR and Cost of Living

The stunning natural surroundings and the outdoor lifestyle of western Oregon are reflected in Lake Oswego's high rent prices. United States Census Bureau statistics indicate that the average apartment here costs $1,111 a month. That's $300 more than the Oregon state average. Despite the high rent prices, life here is still very affordable. Lake Oswego received a cost of living index of 103.3, which only slightly higher than the national average of 100. The city is a haven for people who want the laidback qualities of Oregon with the urban conveniences of nearby Portland.

Lake Oswego Attractions and Special Events

The largest attraction in town is the Lake Oswego Festival of the Arts, which celebrates local artists from the Pacific Northwest. Local residents also travel to Portland for the Portland Rose Festival, Portland Jazz Festival, Waterfront Blues Festival, Christmas Festival of Lights, the Bite of Oregon and LPGA Safeway Classic, among others.

To find a Lake Oswego apartment or rental, check out our apartment listings. Rent.com® is happy to help you find your next home.

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