Cheap Apartments for Rent in the First Addition Neighborhood of Lake Oswego, OR from $800 (29 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

close
View Me
50 Northshore Rd
Studio to 3 Bedroom Apartments

50 Northshore Rd

50 Northshore RdLake Oswego, OR 97034
  • Utilities Included

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

Read Article
close
View Me
Courtney Square
1 to 2 Bedroom Apartments

Courtney Square

2660 SE Courtney RdPortland, OR 97222
close
View Me
Lake Village
Studio to 3 Bedroom Apartments

Lake Village

11850 SE 26th AvePortland, OR 97222
  • Utilities Included
close
View Me
North Main Village
1 to 2 Bedroom Apartments

North Main Village

10558-10560 SE Main StMilwaukie, OR 97222
  • Utilities Included
close
View Me
Stanford
2 Bedroom Apartments

Stanford

2013 SE Courtney RdMilwaukie, OR 97222
close
View Me
Shorewood Terrace
1 Bedroom Apartments

Shorewood Terrace

11233 SE 27th AveMilwaukie, OR 97222
  • Utilities Included
close
View Me
Chestnut Place
1 to 2 Bedroom Apartments

Chestnut Place

12106 SE Lake RdMilwaukie, OR 97222
  • Utilities Included
close
View Me
Quail Ridge Apartments
1 to 2 Bedroom Apartments

Quail Ridge Apartments

2868 SE Lake RdMilwaukie, OR 97222
  • Utilities Included
close
View Me
Forest Ridge
2 Bedroom Apartments

Forest Ridge

12600 SE River Rd SPortland, OR 97222
close
View Me
Crystal Lake
1 to 2 Bedroom Apartments

Crystal Lake

10500 SE 26th AveMilwaukie, OR 97222
Showing Results 1-29, Page 1 of 1

First Addition, Lake Oswego, OR Local Guide

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 Miramonte Lodge priced from $1,285. Driftwood Terrace Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $1,295. Here are the most affordable First Addition apartments for rent in Portland, OR:

Apartment ListingModel NameBed/BathPriced From
Miramonte LodgeMorrisonStudio,1BA$1,285
Driftwood Terrace ApartmentsStudioStudio,1BA$1,295
Overlook at the WillametteStudioStudio,1BA$1,325
Holm at SellwoodStudio A5Studio,1BA$1,399
Henley PlaceThe MapleStudio,1BA$1,430
Axletree ApartmentsKelloggStudio,1BA$1,450
Lake Village2x12BR,1BA$1,500
Banbury ApartmentsOne Bedroom/A1BR,1BA$1,505
One JeffersonA51BR,1BA$1,540
River Cliff ApartmentsLayout B2BR,1BA$1,595

Best Value Apartments for Rent in First Addition, OR

As of March 27, 2025 the best value apartment in the First Addition area is the $2.57 price per square foot 2x2 Model at Steeple Townhomes in the in the Southeast Portland neighborhood starting from $2,895. The second greatest value First Addition apartment is the Layout B Model at River Cliff Apartments starting at $1,595 with a $1.45 price per square foot in the Foothills neighborhood. Here is today’s list of the best values for First Addition apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Steeple Townhomes2x22BR,2BA$2.57
River Cliff ApartmentsLayout B2BR,1BA$1.45
Willamette Townhouse2x1.52BR,1.5BA$1.59
Oswego CoveTwo Bedroom Two Bath2BR,2BA$2.05
Seven AcresSalmonberry - Bldgs 2-52BR,2BA$2.38
Images Springcreek Apartments2BR/1.0BA2BR,1BA$1.87
Oswego Pointe1 Bed 1 Bath1BR,1BA$1.99
Lake Village2x12BR,1BA$2.03
Banbury ApartmentsOne Bedroom/A1BR,1BA$2.35
Overlook at the WillametteStudioStudio ,1BA$2.33

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
First Addition, Lake Oswego, OR

Ranked #17

Among neighborhoods in Lake Oswego, OR for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

decorative image of woman handing cat to small boy

Best Local Schools in
First Addition, Lake Oswego, OR

School data provided by Great Schools

Best Local Schools in
First Addition, Lake Oswego, OR

School data provided by Great Schools

Lifestyle Ratings

ApartmentHomeLiving brings you Lifestyle Ratings of rentals and neighborhoods across the USA, and customized analysis for Southern Portland. LifeStyle Ratings are the best way to sort through finding a place to live - beyond price and floorplan. This takes in many factors including our Star Ratings to compare for proximity to parks, luxury amenities, transit availability, pet-friendly communities, family-friendliness, walking, and biking. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap First Addition Apartments

What is a cheap apartment in First Addition?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in First Addition is under $1,595.

What is the price of a cheap apartment in First Addition?

The cheapest apartment in First Addition is Henley Place which is listed at $1,485, while the average apartment in First Addition costs $4,500.

What types of apartments are the cheapest in First Addition?

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 8 regular apartments in First Addition 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 First Addition?

Cheap apartments in First Addition have an average cost of $144 which is $4,356 cheaper than the average rent for all rentals in First Addition.

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.

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.

decorative image for Understanding Amenity Fees: Know Where You Might Be Able to Save Money article

Understanding Amenity Fees: Know Where You Might Be Able to Save Money

Written by: Amber Kanuckel

With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.

decorative image for Renting Smart: Lease Basics Every Renter Needs article

Renting Smart: Lease Basics Every Renter Needs

Written by: Christine Leonard, Esq.

Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.

decorative image for Battling the Butts: Your Guide to the Reality of Smoke-Free Renting article

Battling the Butts: Your Guide to the Reality of Smoke-Free Renting

Written by: Andrea Lee Negroni, JD

While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.