I know a little about the area from vacations and previous Oregon Coast tours. I vacation at Pacific City every year. Pacific is just a bit north of Lincoln City.
I think the best rides in terms of relatively low traffic levels are found inland. Riding up and down 101 daily would get old in a hurry.
I make it a point to ride the Three Capes Loop when I visit. This takes you through Pacific City (Cape Kiwanda), Cape Lookout, Oceanside and Cape Mears. There's a short loop not to be missed at Nestucca Bay ... I usually spot seals and the bay really sparkles with reflected sun light. Living in a desert, I really enjoy riding tree covered roads.
In between Lincoln City and Pacific City there's a nice climb just south of Neskowin. There is a county road that parallels 101 over this climb so you don't have to ride with the traffic.
Also, I have ridden inland a little from Pacific City. This is vague. The HWY 22 exit also accesses a county road. I think it makes for a nice ride. I've always wanted to try HWY22 itself, but I haven't quite got to it.
You couldn't pay me enough to ride 101 from the Pacific City exit to Tillamook ... too many cars and no shoulder.