What HUD offices serve Lake Oswego, Oregon?
Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.
Go to the Oregon Public Housing and Low-Income Apartments Waiting Lists page for openings near Lake Oswego.
How many renters live in Lake Oswego, Oregon?
The City of Lake Oswego has 40,457 people living in 16,649 households.
There are 10,203 renters living in 4,977 renter households in this City. Renters make up 25.22 percent of the population living in Lake Oswego.
What is the rental market like in Lake Oswego, Oregon?
There are an estimated 17,778 housing units in the Lake Oswego area. Of these, 5,050 units are rental homes, making up 28 percent of the housing market. For every renter household in Lake Oswego, Oregon, there are 1 rental units.
What is the vacancy rate for rentals in Lake Oswego?
The rental vacancy rate in Lake Oswego is 1 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.
How many rental units are in Lake Oswego for each bedroom size?
Occupied Rental Units by Size in Lake Oswego
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 344 | 1,396 | 2,166 | 833 | 217 |
Occupied Rental Units by Size in Lake Oswego
A large number of apartments in Lake Oswego have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many renter households in Lake Oswego are overburdened by housing costs?
Among renter households in this market, 49 percent have housing cost burden. Further, 27 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.
The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.
How Much Is Rent in Lake Oswego
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,650 to $3,254. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,650 |
| One BR | $1,776 |
| Two BR | $2,024 |
| Three BR | $2,809 |
| Four BR | $3,254 |
2024 Fair Market Rents in Lake Oswego, Oregon
How many units are rented at Fair Market Rent (FMR) in Lake Oswego?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| Studio | 71 | 21 percent |
| One BR | 275 | 20 percent |
| Two BR | 215 | 10 percent |
Rental Units Below FMR in Lake Oswego, Oregon
How many affordable rental units are in Lake Oswego?
There are a variety of federal affordable housing programs serving households in Lake Oswego, Oregon including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 75 |
| Section 8 Project-Based Rental Assistance | 30 |
| Section 202 Supportive Housing for the Elderly | 44 |
Tracked Units by Federal Program in Lake Oswego, Oregon
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Lake Oswego, Oregon
Lake Oswego features 30 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Lake Oswego, Oregon
There are 45 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Lake Oswego.
Housing Choice Vouchers in Lake Oswego, Oregon
On average, Section 8 Housing Choice vouchers pay Lake Oswego landlords $900 per month towards rent. The average voucher holder contributes $500 towards rent in Lake Oswego.
The maximum amount a voucher would pay on behalf of a low-income tenant in Lake Oswego, Oregon for a two-bedroom apartment is between $1,822 and $2,226.
Sourced from federal housing data and AffordableHousingOnline.com research.
