The story of this market
The typical home in ZIP 97034 sells for about $1,099,500, or $440 per square foot.
Prices are down 4.39% from a year ago, which gives buyers more room to negotiate. Homes take about 22 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $2,241 a month.
ZIP 97034 — Lake Oswego
The Lake Oswego housing market is experiencing a period of slow, steady activity characterized by rising inventory levels and a slight year-over-year price correction. While high-end homes are seeing longer days on market, local realtors remain optimistic due to sustained buyer interest and a resilient local economy. The market is currently balancing seasonal inventory increases against broader economic uncertainty.
This ZIP is ideal for affluent families, established professionals, and downsizers seeking a high-amenity, suburban lifestyle with proximity to Portland's employment core.
Median prices moved down 4.4% year over year.
Homes spend a median of 22 days on market with 0.0 months of supply — a fast-moving market.
0% of listings have cut prices · homes sell at 0% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 5.6% · poverty 3.1% — a stable, low-distress profile.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 97034, Clackamas County OR
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Lake Oswego schools are highly regarded, consistently ranking among the top-performing districts in Oregon.
The area faces standard Pacific Northwest climate risks, including potential for winter storms and wildfire smoke, with insurance markets reflecting regional hazard exposure.
Lake Oswego maintains a stable, high-end residential character with limited large-scale industrial growth, focusing instead on infill development and maintaining its established suburban infrastructure.
Property taxes in Clackamas County are based on assessed values determined by the county assessor, subject to Oregon's constitutional limits on tax rates and value growth.
Residents typically commute to Portland via I-5 or OR-43, with travel times varying significantly based on peak-hour traffic congestion.
The area features extensive access to Oswego Lake, numerous public parks, and proximity to the Willamette River, alongside high-end shopping and dining in the downtown district.
The rental market has seen a slight cooldown with a year-over-year decrease in median rents, reflecting broader regional adjustments in demand.
The local economy is driven by professional services, healthcare, and proximity to the broader Portland metropolitan employment hub.
The area is served by major highway corridors including I-5 and OR-43, with public transit provided by TriMet bus services connecting to the Portland light rail system.
Development is primarily focused on residential infill and small-scale mixed-use projects within the established urban growth boundary.
The Clackamas County Assessor manages property valuations in accordance with Oregon state law, focusing on annual market value adjustments and constitutional tax caps.
Parcels are subject to various special districts including the Lake Oswego School District, fire districts, and local utility service providers.
Property insurance premiums are influenced by regional wildfire and seismic risk factors common to the Willamette Valley.
Data retrieved from Census Bureau ZCTA profile for 97034.
- Hopscotch Portland4.87.9 mi
- Oaks Amusement Park4.45 mi
- Langer's Entertainment Center4.47.7 mi
- Bullwinkle's4.47.5 mi
- Sky Zone Trampoline Park3.86.5 mi
- Moda Center4.58.9 mi
- Providence Park4.68.2 mi
- Oregon Convention Center4.58.8 mi
- Revolution Hall4.68.2 mi
- Portland Art Museum4.67.8 mi
- Powell's City of Books4.98.3 mi
- Oregon Zoo4.57.4 mi
- Portland Japanese Garden4.68.1 mi
- The Grotto4.711.8 mi
- Providence Park4.68.2 mi
- Portland Japanese Garden4.68.1 mi
- OMSI4.57.3 mi
- The Grotto4.711.8 mi
- Hopscotch Portland4.87.9 mi
- Portland Art Museum4.67.8 mi
- Portland Japanese Garden4.68.1 mi
- The Grotto4.711.8 mi
- International Rose Test Garden4.88 mi
- Laurelhurst Park4.78.7 mi
- Pioneer Courthouse Square4.48 mi
- Riverplace Marina4.67.4 mi
- eNRG Kayaking4.85 mi
- RedTail Golf Center45.9 mi
- Glendoveer Golf & Tennis4.411.9 mi
- Eastmoreland Golf Course4.35.5 mi
- The Reserve Vineyard & Golf Club4.612.5 mi
- Langdon Farms Golf Club4.59.7 mi
- Washington Square4.45.6 mi
- Clackamas Town Center4.36 mi
- Uwajimaya Beaverton4.77.4 mi
- Bridgeport Village4.43.2 mi
- Fred Meyer49.3 mi
- Portland International Airport4.513.4 mi
- Providence Saint Vincent Hospital Heliport4.68.5 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
A private lake serving as the central recreational and aesthetic anchor for the community.
A major riverfront park offering trails, sports fields, and historical significance.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.