The typical owner-occupied home in Lake Oswego is worth about $932,200, 95% above the Oregon median of $477,600 and 2.8 times the national median of $332,700. Owners pay a median $8,522 a year in property taxes, about 0.91% of their home's value, higher than the Oregon rate of 0.81%. The median household earns $141,549 a year, so the median home costs 6.6 times the median income (5.8 times for Oregon). 69% of occupied homes here are lived in by their owners, and 65% of those owners still have a mortgage.
Lake Oswego at a glance
| Lake Oswego | Oregon | U.S. | |
|---|---|---|---|
| Median home value | $932,200 | $477,600 | $332,700 |
| Median property tax paid per year | $8,522 | $3,876 | $3,119 |
| Property tax as a share of value | 0.91% | 0.81% | 0.94% |
| Median household income | $141,549 | $83,011 | $80,734 |
| Homes lived in by their owners | 69% | 63% | 65% |
| Owner homes with a mortgage | 65% | 65% | 61% |
| Median monthly costs, owners with a mortgage | $3,439 | $2,157 | $1,963 |
| Those costs as a share of the owners' income | 22.0% | 22.4% | 21.0% |
| Median rent | $2,139 | $1,525 | $1,413 |
| Rent as a share of renters' income | 28.9% | 31.3% | 30.6% |
| Median year homes were built | 1982 | 1981 | 1980 |
| Vacant homes | 7.0% | 7.5% | 10.1% |
| Population | 40,381 | 4,254,293 | 334,922,499 |
What a typical home costs per month in Lake Oswego
At this week's average 30-year rate of 7.11%, buying the median Lake Oswego home of $932,200 with 20% down costs about $6,112 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $7,815, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $261,948 for the 20%-down payment. That payment is 52% of the median Lake Oswego household income of $141,549; at that income and 20% down, the 28% guideline points to a home of about $504,000.
The median rent here is $2,139 a month, so owning the median home costs about $3,973 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $186,440 |
|---|---|
| Loan amount | $745,760 |
| Principal and interest | $5,017 |
| Property taxes (0.91% a year) | $707 |
| Homeowners insurance (our estimate, 0.5% a year) | $388 |
| PMI | $0 |
| Total per month | $6,112 |
Change the numbers in the calculator
| Down payment | $32,627 |
|---|---|
| Loan amount | $915,316 |
| Principal and interest | $6,157 |
| Property taxes (0.91% a year) | $707 |
| Homeowners insurance (our estimate, 0.5% a year) | $388 |
| FHA mortgage insurance | $562 |
| Total per month | $7,815 |
Change the numbers in the calculator
Questions about home buying in Lake Oswego
What is the median home value in Lake Oswego?
About $932,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Lake Oswego?
Homeowners pay a median $8,522 a year, which is about 0.91% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Lake Oswego?
For the median home with 20% down at 7.11%, the payment is about $6,112 a month. Keeping that under 28% of gross income takes about $261,948 a year.
More about Lake Oswego
- Mortgage Refinance in Lake Oswego
- Debt Relief in Lake Oswego
- Home Equity Loans in Lake Oswego
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data