Lake Oswego, OR
Population 40,367 · Oregon
About Lake Oswego, OR
Lake Oswego is a mid-sized city located in Oregon with a population of 40,367 residents according to the latest US Census Bureau American Community Survey data. The median household income is $140,441 per year, which is 87% above the national median of $75,149. The median age of 46.5 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Lake Oswego features a median home value of $894,000, which is 265% above the national median of $244,900. This places Lake Oswego in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $2,031, 75% above the national average of $1,163/month. Of the 17,838 total housing units, 71% are owner-occupied (11,786 units) and 29% are renter-occupied (4,868 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Lake Oswego shows an unemployment rate of 4.3%, which is near the national rate of 3.7%. The poverty rate stands at 3.1%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Lake Oswego have an average one-way commute time of 22.2 minutes.
Education & Demographics
75.1% of Lake Oswego residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 2.1% White, 1.7% Hispanic or Latino, 0.0% Black or African American, and 2.7% Asian residents, with 11.2% of the population being foreign-born.
How Lake Oswego Ranks in Oregon
Cost of Living in Lake Oswego, OR
Compared to national averages, Lake Oswego has a median household income of $140,441 (87% above the national median of $75,149). Home values average $894,000, which is 265% above the national median. Monthly rent at $2,031 is 75% above the US average of $1,163. Within Oregon, Lake Oswego's income is 84% above the state average of $76,196, and home values are 134% above the state median of $382,095.
Why Live in Lake Oswego, OR?
Lake Oswego offers a strong local economy with a median household income of $140,441, well above the national average, and a well-educated community where 75.1% of residents hold a bachelor’s degree or higher, and a low poverty rate of 3.1%, better than the national average. Additionally, the city features short commute times averaging just 22.2 minutes.
Potential considerations include a competitive housing market where the typical home costs $894,000. However, Lake Oswego’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Lake Oswego has a population of 40,367 with a median age of 46.5 years. Compare Lake Oswego with other cities to see how it stacks up, or explore all cities in Oregon.
Similar Cities Near Lake Oswego
Cities in Oregon with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Grants Pass | 39,183 | $56,877 | $364,200 | Compare |
| Keizer | 39,013 | $81,217 | $396,700 | Compare |
| Oregon City | 37,482 | $94,648 | $531,400 | Compare |
| Redmond | 35,161 | $79,789 | $435,000 | Compare |
| McMinnville | 34,493 | $70,060 | $391,100 | Compare |
| Bethany | 31,700 | $164,315 | $699,200 | Compare |
| Tualatin | 27,710 | $105,073 | $595,800 | Compare |
| Aloha | 53,362 | $96,754 | $465,500 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Oregon
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Lake Oswego With Other Cities
Frequently Asked Questions about Lake Oswego
What is the population of Lake Oswego, OR?
The population of Lake Oswego, OR is 40,367 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Oregon.
What is the median household income in Lake Oswego?
The median household income in Lake Oswego, OR is $140,441 per year, which is 87% above the national median of $75,149.
What is the median home value in Lake Oswego?
The median home value in Lake Oswego, OR is $894,000, which is 265% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Lake Oswego?
The median monthly rent in Lake Oswego, OR is $2,031, which is 75% above the national average of $1,163/month.
What is the unemployment rate in Lake Oswego?
The unemployment rate in Lake Oswego, OR is 4.3%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Lake Oswego, OR a good place to live?
Lake Oswego offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 40,367 and a median age of 46.5, the city appeals to established professionals and retirees.
How educated is Lake Oswego, OR?
75.1% of residents in Lake Oswego aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Lake Oswego?
Key cost-of-living indicators for Lake Oswego, OR: median home value is $894,000 (265% above national), median rent is $2,031/month, and median household income is $140,441. The home-value-to-income ratio is 6.4x, which suggests housing may be stretched relative to local earnings.
What is the poverty rate in Lake Oswego?
The poverty rate in Lake Oswego, OR is 3.1%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Lake Oswego, OR?
Lake Oswego's population is 2.1% White, 1.7% Hispanic or Latino, 0.0% Black or African American, 2.7% Asian, and 1.1% two or more races. 11.2% of residents are foreign-born.