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ZIP Code · OR

ZIP 97034

Pop. 21,331·Clackamas County·2nd most expensive ZIP in Oregon
Median rent (all units)
$2,866/mo
Year-over-Year
+2.6%
Month-over-Month
+7.4%
vs US Median
+$901
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 97034 · $2,866
More expensive than 88% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,890
1 BR
$2,020
2 BR
$2,310
3 BR
$3,150
4 BR+
$3,740
Research median
$2,310/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$34,392/yr
At $2,866/mo median
Location
StateOR
CountyClackamas County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 2.6% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+2.6% YoY, +7.4% MoM), not inventory.
Demographics

Who lives here

ZIP 97034 (Lake Oswego, OR) is majority owner-occupied, has a large retiree population, has a median income above the national average, 74.2% of residents hold a bachelor's degree or higher.

Population
21,331
Median income
$149,236
Median age
48.6
Renters
26%
Age distribution
22.4%
27.4%
14.9%
25.6%
Under 1822.4%
18–349.7%
35–5427.4%
55–6414.9%
65+25.6%
Gender
51.6%
48.4%
Male51.6%
Female48.4%
Race & ethnicity
79.7%
White79.7%
Hispanic4.9%
Asian7.3%
Other7.8%
Education (25+)
19.1%
74.2%
No HS diploma1%
HS diploma5.7%
Some college19.1%
Bachelor's+74.2%
Housing tenure
74%
26%
Owner74%
Renter26%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 97034 in Lake Oswego, OR has changed in 5 years

Income
$135,538 → $149,236
up 10.1%
Population
20,688 → 21,331
up 3.1%
Renter share
23.7% → 26%
+2.3 pts
Bachelor's+
74% → 74.2%
+0.2 pts
Median age
49.1 → 48.6
-0.5 yrs

Census figures show median household income at $149,236 today, compared with $135,538 five years earlier. Headcount in the area went from 20,688 to 21,331 between 2021 and 2024, a 3.1% change. About 26% of households rent today, against 23.7% in 2021.

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Local insights

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About renting in ZIP 97034

Last updated: July 20, 2026

ZIP code 97034 covers Lake Oswego, OR. The median rent here is $2,866/mo as of July 2026. A 1-bedroom rents for a median of $2,020/mo. A 2-bedroom rents for a median of $2,310/mo.

At 23% of local median household income ($149,236/yr), ZIP 97034 ranks as affordable compared to the national benchmark of 30%. Rents have increased 2.6% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 97034?

As of July 20, 2026, the median monthly rent in ZIP 97034 (Lake Oswego, OR) is $2,866. This is based on aggregated data from public sources and community submissions.

How does ZIP 97034 rent compare to the US average?

ZIP 97034's median rent of $2,866/mo is $901 (46%) above the US national median of $1,965/mo.

How does ZIP 97034 compare to other ZIPs in Oregon?

ZIP 97034 is one of the pricier ZIP codes in Oregon, ranking #2 out of 116 ZIPs tracked at $2,866/mo.

How much income do you need to rent in ZIP 97034?

To keep rent at or below 30% of gross income, you would need to earn at least $115,000/year (~$55/hour full-time) to afford the median rent of $2,866/mo in ZIP 97034. The local median household income is $149,236/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 97034?

Rent in ZIP 97034 has increased 2.6% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 97034 an affordable place to rent?

ZIP 97034 is considered very affordable for renters. At $2,866/mo, rent takes approximately 23% of the local median household income ($149,236/yr). The standard benchmark is 30%. ZIP 97034 falls comfortably within that range.

What percentage of ZIP 97034 residents rent vs. own?

According to Census data, approximately 26% of ZIP 97034 households are renters, while 74% are owner-occupied. ZIP 97034 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 97034 compare to the rest of Lake Oswego?

ZIP 97034 is pricier than Lake Oswego as a whole. At $2,866/mo, it's $608 above the Lake Oswego citywide median of $2,258/mo.

When was rent data for ZIP 97034 last updated?

Rent data for ZIP 97034 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
23%
VERY AFFORDABLE

At $2,866/mo, rent takes ~23% of ZIP 97034's median household income ($149,236/yr). The standard benchmark is 30%.

ZIP 97034 23%Benchmark 30%
State income tax4.75–9.9%
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Schools nearby

Public schools near ZIP 97034 (Lake Oswego, OR)

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