Elizabeth Davidson · · 4 min read
Lake Oswego Home Values & Rents: Monthly Market Report
What is a home in Lake Oswego worth right now, and what does it cost to rent one? Those are the two questions I hear most, so each month I'm pulling the newest published numbers into one place. Here's the November update, built on September 2026 figures from Zillow and the July through September 2026 sales from Redfin.
Quick facts
- Typical home value: $863,163 (Zillow Home Value Index, September 2026)
- Change from a year earlier: up about 1.5% (from $850,211 in September 2025)
- Typical rent: $2,218 a month (Zillow Observed Rent Index, September 2026)
- Median sale price: $1,014,517, up 8.8% from a year earlier (Redfin, July–September 2026)
- Homes sold: 205, up 11.5% from a year earlier (Redfin, July–September 2026)
- Median days on market: 29, which is 10 days fewer than a year earlier (Redfin, July–September 2026)
Home values: the Zillow numbers
Zillow's Home Value Index estimates the typical value of homes in an area, the middle of the market rather than only the homes that happened to sell. For the City of Lake Oswego it stood at $863,163 in September 2026. That's up from $862,583 in August, a gain of about $580, and up from $850,211 in September 2025, a gain of about 1.5% over the year.
Lake Oswego's two main ZIP codes sit at very different price levels:
| ZIP code | Typical home value, Sept 2026 | August 2026 | September 2025 | Change over the year |
|---|---|---|---|---|
| 97034 | $1,108,477 | $1,107,781 | $1,085,809 | up about 2.1% |
| 97035 | $724,185 | $723,097 | $713,277 | up about 1.5% |
Source: Zillow Home Value Index (all homes, middle tier, smoothed and seasonally adjusted), September 2026. Year-over-year percentages are calculated from Zillow's published values.
Both ZIP codes edged up from August to September and both are higher than a year ago. The gap between them is wide, so when someone quotes "the Lake Oswego price," it's worth asking which ZIP code they mean. (Both ZIP codes also reach a little beyond the city limits.)
Rents: the Zillow numbers
Zillow's Observed Rent Index tracks typical asking rents. For the city it was $2,218 a month in September 2026, compared with $2,201 in August and $2,200 in September 2025, a rise of about 0.8% over both the month and the year.
| ZIP code | Typical rent, Sept 2026 | August 2026 | September 2025 |
|---|---|---|---|
| 97034 | $2,832 | $2,844 | $2,817 |
| 97035 | $2,098 | $2,076 | $2,070 |
Source: Zillow Observed Rent Index (all homes plus multifamily, smoothed), September 2026.
In 97034, typical rent slipped about $12 from August but is still roughly 0.5% above last September. In 97035 it rose about 1.1% from August and about 1.3% from a year earlier.
What actually sold: the Redfin numbers
Redfin reports on closed sales, and its city figures use a rolling three-month window. For July through September 2026:
- Median sale price: $1,014,517, up 8.8% from the same period a year earlier
- Homes sold: 205, up 11.5% from a year earlier
- Median days on market: 29, 10 days fewer than a year earlier
- Average sale-to-list ratio: 98.28%, meaning homes sold, on average, a little under their final list price
- Months of supply: 4.1
Source: Redfin Data Center, Housing Market Tracker, city level, rolling three months ending September 30, 2026 (data updated October 7, 2026).
Why the Zillow and Redfin numbers differ
You might notice that Redfin's median sale price is well above Zillow's typical home value. They measure different things. Zillow estimates the value of all homes in the city, whether or not they're for sale. Redfin's figure is the middle price of the homes that actually closed in those three months, so it shifts with whichever homes happened to sell. If more higher-priced homes changed hands this summer, the median sale price rises even if typical values barely move. I look at both together: one shows the overall level of the market, the other shows what buyers are paying right now.
What this means if you're buying or selling
Numbers like these are a starting point, not an answer. Values inside Lake Oswego vary a lot from one neighborhood to the next, and a single home's price depends on its condition, lot, updates and exact location. If you're thinking about selling, the most useful next step is a look at recent sales that truly match your home. If you're buying, knowing the typical days on market and sale-to-list ratio helps you judge how quickly to move and how to shape an offer.
You can find more about the city in my Lake Oswego city guide, and for a broader look at what drives prices at the upper end, read Portland & Lake Oswego Real Estate Market: What Drives It.
Lake Oswego business of the week
Looking to talk numbers over a great meal? Tucci is a favorite of mine downtown: Italian recipes meet Northwest ingredients at this refined, contemporary restaurant with a patio. You'll find it at 220 A Ave, Lake Oswego.
Frequently asked questions
What is the typical home value in Lake Oswego? Zillow's Home Value Index put it at $863,163 in September 2026, up about 1.5% from $850,211 a year earlier.
What is the median sale price in Lake Oswego? Redfin reports a median sale price of $1,014,517 for July through September 2026, up 8.8% from the same period a year earlier.
How much does it cost to rent in Lake Oswego? Zillow's Observed Rent Index was $2,218 a month for the city in September 2026: $2,832 in ZIP 97034 and $2,098 in ZIP 97035.
How fast are Lake Oswego homes selling? The median home sold in 29 days in July through September 2026, according to Redfin, 10 days faster than a year earlier.
I update this report every month with the newest numbers. If you'd like to talk about what they mean for your home or your search, I'd love to hear from you. Reach out anytime about living in Lake Oswego.
Sources
- Zillow Research, Home Value Index and Observed Rent Index data: zillow.com/research/data
- Redfin Data Center, Housing Market Tracker: redfin.com/news/data-center
Thinking about buying or selling in Portland or Lake Oswego? Let's talk.
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