Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Federal Way area can be challenging. Home prices in Federal Way are now at a median cost of $368,352, lower than the Washington average of $453,663.
The average cost of rent is $1,586/mo in Federal Way, primarily driven by the current value of real estate in the Federal Way area. While nearly 33.05% of residents own their homes outright in Federal Way, 52.31% rent.
Housing affordability isn’t just about home prices, though. The average household income in Federal Way is $5,922 per month. Households that rent pay about 26.79% of their income on rent here. Federal Way's most expensive areas are in the northern regions, while the cheapest areas are in the southwestern parts of the city.
Nearby Cities
- Lakeland North, WA: higher priced homes
- Lakeland South, WA: higher priced homes
- Milton, WA: equally priced homes
- Algona, WA: less expensive homes
- Pacific, WA: less expensive homes
- Des Moines, WA: higher priced homes
- Fife, WA: equally priced homes
- Edgewood, WA: higher priced homes
- Auburn, WA: equally priced homes
- Kent, WA: equally priced homes
Cities with Similar Populations
- Boston, MA: higher priced homes
- Boulder, CO: higher priced homes
- Brick, NJ: less expensive homes
- Bremerton, WA: less expensive homes
- Birmingham, AL: less expensive homes
- Bloomington, IN: less expensive homes
- Bloomington, IL: less expensive homes
- Boynton Beach, FL: less expensive homes
- Billings, MT: less expensive homes
- Berkeley, CA: higher priced homes
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