Developing an active and stable anode catalyst for the proton exchange membrane water electrolyzer (PEM-WE) is a critical objective to enhance the economic viability of green hydrogen technology. However, the expensive iridium-based electrocatalyst remains the sole practical material with industrial-level stability for the acidic oxygen evolution reaction (OER) at the anode. Ruthenium-based catalysts have been proposed as more cost-effective alternatives with improved activity, though their stability requires enhancement. The current urgent goal is to reduce costs and noble metal loading of the OER catalyst while maintaining robust activity and stability. In this study, we design a Ru-based OER catalyst incorporating Pb as a supporting element. This electrocatalyst exhibits an OER overpotential of 201 mV at 10 mA·cm⁻², simultaneously reducing Ru noble metal loading by ~ 40%. Normalization of the electrochemically active surface area unveils improved intrinsic activity compared to the pristine RuO₂ catalyst. During a practical stability test in a PEM-WE setup, our developed catalyst sustains stable performance over 300 h without notable degradation, underscoring its potential for future applications as a reliable anodic catalyst.