Lake Oswego, OR

Very High · 197

Oregon · Population 40,367 · Updated March 2026

$2,031
Median Rent / Month
$140,441
Median Income
$894,000
Median Home Value
$2,318
Owner Costs / Month

Affordability

How far your income goes in Lake Oswego

17.4%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Oregon

State-level tax rates that affect your costs

9.9%
Income Tax (Top Rate)
0%
Sales Tax
0.93%
Property Tax Rate

Estimated Annual Costs

$24,372
Annual Rent
$13,904
State Income Tax
$8,314
Property Tax (est.)

Cost of Living Overview

Lake Oswego has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 197 (where 100 equals the national median), Lake Oswego residents can expect to pay median rent of $2,031/month while earning a median household income of $140,441/year.

The median home value in Lake Oswego, OR is $894,000, with typical monthly owner costs around $2,318 including mortgage, insurance, and taxes. The median rent-to-income ratio of 17.4% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Oregon's top income tax rate of 9.9% is among the highest in the nation, adding to the overall cost burden. Combined with a 0% sales tax rate and 0.93% effective property tax rate, the overall tax environment is a factor in the total cost of living in Lake Oswego.

Frequently Asked Questions

Common questions about living costs in Lake Oswego

What is the cost of living in Lake Oswego, OR?
The cost of living index in Lake Oswego, OR is 197 (US average = 100). Median monthly rent is $2,031, median household income is $140,441/year, and the median home value is $894,000.
Is Lake Oswego, OR affordable?
No, Lake Oswego is more expensive than the national average with a cost index of 197. The rent-to-income ratio is 17.4%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Lake Oswego, OR?
The median gross rent in Lake Oswego, OR is $2,031 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $24,372.
What is the median household income in Lake Oswego?
The median household income in Lake Oswego, OR is $140,441 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Oregon?
Oregon has a top income tax rate of 9.9%, a sales tax of 0%, and an effective property tax rate of 0.93%.