Total monthly cost of ownership
Cost to Own a Home in Lake Oswego, Oregon
A $894,000 home here costs
$6,371per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $4,596. The real number is $1,775 higher every month — 39% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Lake Oswego against Multnomah County and Oregon
| Measure | Lake Oswego | Multnomah County |
|---|---|---|
| Median home value | $894,000 | $528,000 |
| Median property tax | $8,246 | $5,061 |
| Effective tax rate | 0.922% | 0.959% |
| Median gross rent | $2,031 | $1,582 |
| Population | 40,367 | 803,863 |
Lake Oswego extends across 3 counties. Figures here use Multnomah County, where most of its housing sits.
The weather behind that power bill
Lake Oswego sits in Multnomah County, which averages a high of 82.3°F in its hottest month and a low of 37.2°F in its coldest, with 40.66" of precipitation a year and 42% of it in a single three-month stretch. That climate drives 427 cooling and 4,155 heating degree days, which is what sets the $146 electricity line above.
See the full climate breakdown for Multnomah County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Multnomah County
Full Multnomah County cost breakdown · Every county in Oregon
Common questions
How much does it cost to own a home in Lake Oswego?
A $894,000 home in Lake Oswego, Oregon costs approximately $6,371 per month with 20% down at 6.66%. That is $4,596 principal and interest, $687 property tax, $129 homeowners insurance, $214 utilities and $745 set aside for maintenance.
What is the property tax rate in Lake Oswego?
Lake Oswego has an effective property tax rate of 0.922%, based on a median home value of $894,000 and median real estate taxes of $8,246. That is lower than the Multnomah County average of 0.959%.
What is the average home price in Lake Oswego?
The median owner-occupied home value in Lake Oswego, Oregon is $894,000, against $528,000 across Multnomah County.
Is it cheaper to rent or buy in Lake Oswego?
Median gross rent in Lake Oswego is $2,031 a month, against $6,371 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Lake Oswego — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Oregon.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.