Pain on the side of the knee is a common symptom of iliotibial band syndrome, a condition in which the long tendon that runs down the side of the thigh becomes inflamed, according to Methodist Orthopedics. The condition is common in cyclists, long-distance walkers and people with bowed legs.
People with iliotibial band syndrome may also experience pain or a snapping sensation on the side of the hip when the tendon moves across the hip point during exercise, explains WebMD. The condition is typically treated with rest, stretching exercises and anti-inflammatory medications. In certain cases, steroid injections may relieve pain and inflammation.