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Lake Oswego city, OR

ZIP 97034 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Upper Middle ClassLow Snow AreaRemote Work Hub

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 97034

Median Home Value
$995,900
Median Rent
$1,949
Affordability Snapshot
$274,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$6,397/mo PITI).

16%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

6.7x
Home Price-to-Income Ratio

Well above the 3-5x guideline — challenging for first-time buyers.

42.6 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 97034 in Lake Oswego city, OR, a household would need roughly $274,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $6,397. That is about 86% above the local median household income ($147,688), so the median earner would likely stretch or need a larger down payment. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Owner-occupied majority; balanced tenure mix.

Heating Fuel
Housing Metrics
Owner Occupied
76.1%+16% vs US avg
x
Vacancy Rate
5.7%-44% vs US avg
x
Broadband Access
96.7%+11% vs US avg
x
4+ Bedrooms
12.5%-16% vs US avg
x
Built Pre-1939
4.7%-63% vs US avg
x
Built Post-2014
0.7%-89% vs US avg
x
Rent Burden >30%
37.7%-24% vs US avg
x
Mortgage-Free
35.3%-8% vs US avg
x
$995,900
Home Value
$1,949
Rent
1977
Year Built
2014
Moved In

Residents have lived here since ~2014 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached72.7%
  • 1-unit attached4.0%
  • 2-9 units7.9%
  • 10+ units15.1%
  • Mobile home & other0.3%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$995,900
Median rent$1,949
Owner-occupied76.1%
Vacant5.7%
Price-to-income6.7x
Est. income to buy$274,000