In Federal Way, a typical home is worth $552,800 and typical rent is $1,797 a month. Compared with all of King County, the typical home value is 36% lower and typical household income is 30% lower.
Typical home value from Zillow, September 2021 to September 2026: from $521,678 to $581,567.
Typical rent
$1,944a month
▲ 2.6% more than 12 months ago
Typical rent from Zillow, September 2021 to September 2026: from $1,739 to $1,944.
From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).
Federal Way is in King County. The FHA loan limit ($1,063,750 for a one-unit home), the fair market rents and the help on this page are those of all of King County. See the county
What this place has that others do not, from public data, most unusual first.
1
The typical home in Federal Way is worth $552,800,36% less than in King County as a whole ($859,900).
2
The typical household income in Federal Way is $86,909,30% less than in King County as a whole ($124,746).
Sources: U.S. Census Bureau (Average 2020–2024).
The homes here
Housing in Federal Way
What homes there are in Federal Way, what they cost, how that changed and how people live, from Census figures (2020–2024).
What homes there are
U.S. Census Bureau, ACS 5-year, 2020–2024
Kind of home
Detached houseAttached houseBuilding of 2 to 4Apartments (5 or more)Mobile homeBoat, RV and otherUnreliable estimate
Federal Way
King County
Washington
United States
Kind of home: Federal Way and its comparisons
Measure
Federal Way
King County
Washington
United States
Detached house
49%
50%
62%
61%
Attached house
3%
5%
4%
6%
Building of 2 to 4
11%
5%
6%
8%
Apartments (5 or more)
33%
38%
22%
19%
Mobile home
4%
1%
6%
6%
Boat, RV and other
Unreliable estimate
0%
0%
0%
In Federal Way there is a bit of everything: no kind of home reaches half. The most common are detached houses (49%), as in King County.
Year built
Before 19601960–19791980–19992000–20092010 or later
Federal Way
King County
Washington
United States
Year built: Federal Way and its comparisons
Measure
Federal Way
King County
Washington
United States
Before 1960
5%
23%
21%
26%
1960–1979
35%
23%
23%
24%
1980–1999
41%
25%
27%
25%
2000–2009
10%
13%
15%
14%
2010 or later
9%
16%
14%
11%
In Federal Way, half of the homes were built before 1984; in King County, before 1983.
Homes in Federal Way are bigger: 57% have 3 bedrooms or more; in King County, 50%.
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Under the limitOver the limitCould be either side
Under $100K5%
$100K–$200K3%
$200K–$300K7%
$300K–$500K26%
$500K–$750K42%
$750K–$1M11%
$1M or more6%
FHA limit: $1,063,750
Value of owner-occupied homes: Federal Way and its comparisons
Measure
Federal Way
Under $100K
5%
$100K–$200K
3%
$200K–$300K
7%
$300K–$500K
26%
$500K–$750K
42%
$750K–$1M
11%
$1M or more
6%
At least 94% of owner-occupied homes in Federal Way are worth less than $1,000,000, below the FHA loan limit for King County ($1,063,750).
Monthly rent with utilities
Under the limitOver the limit
Under $5005%
$500–$9994%
$1,000–$1,49920%
$1,500–$1,99936%
$2,000–$2,49921%
$2,500–$2,99910%
HUD fair market rent, 2 bedrooms: $2,549
$3,000 or more5%
Monthly rent with utilities: Federal Way and its comparisons
Measure
Federal Way
Under $500
5%
$500–$999
4%
$1,000–$1,499
20%
$1,500–$1,999
36%
$2,000–$2,499
21%
$2,500–$2,999
10%
$3,000 or more
5%
By rent, most homes in Federal Way cost less than HUD's 2-bedroom fair market rent ($2,549): about 87%.
With a mortgage
$2,351 a month
King County: $3,273 a month
Without a mortgage
$831 a month
King County: $1,116 a month
Owners with a mortgage
68%
King County: 70%
The typical cost for an owner with a mortgage in Federal Way is $2,351 a month, less than in King County ($3,273); without one, $831.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
Federal Way+68%
King County+57%
Washington+67%
United States+53%
Typical rent
Federal Way+35%
King County+30%
Washington+40%
United States+33%
Typical household income
Federal Way+29%
King County+31%
Washington+33%
United States+29%
Change since 2015–2019: Federal Way and its comparisons
Measure
Federal Way
King County
Washington
United States
Typical home value
+68%
+57%
+67%
+53%
Typical rent
+35%
+30%
+40%
+33%
Typical household income
+29%
+31%
+33%
+29%
Since 2015–2019, homes in Federal Way gained value faster than in King County: 68% against 57%.
Since 2015–2019, the typical rent in Federal Way rose 35%, more than in King County (30%).
Here income did not keep up with housing: it rose 29%, while home values changed +68% and rent +35%.
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Federal Way and its comparisons
Measure
Federal Way
King County
Washington
United States
Rental vacancy
4.4%
5.3%
4.5%
5.5%
Homeowner vacancy
Unreliable estimate
0.7%
0.7%
0.9%
More than one person per room
6.5%
3.9%
3.5%
3.4%
People per household
2.76
2.39
2.50
2.53
Drive alone
67%
50%
63%
69%
Carpool
12%
7%
9%
9%
Public transit
5%
7%
3%
3%
Walk or bike
2%
5%
4%
3%
Work from home
14%
29%
20%
15%
Other means
1%
1%
1%
2%
Typical commute
Unreliable estimate
20 to 29 minutes
20 to 29 minutes
20 to 29 minutes
Open rentals in Federal Way look like those in King County: the rental vacancy rate is 4.4%.
More households are short on space in Federal Way: 6.5% have more than one person per room; in King County, 3.9%.
Households in Federal Way are bigger: 2.76 people on average; in King County, 2.39.
More people carpool to work in Federal Way than in King County: 12% against 7%.
Do the math
What would you pay each month for a home in Federal Way?
A typical home costs more than the typical income allows
We start with a typical home in Federal Way, worth $552,800, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 63% of the typical household income in Federal Way, which is $86,909 a year. For that payment to be 28% of income, a household would need to earn about $194,718 a year.
The calculator's FHA and conventional loan limits are those of all of King County.
Change the price, the down payment or the loan: the payment updates right away.
Your numbers
Local data
$
Starts at the typical home value in Federal Way. Change it to the price you have in mind.
Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.
Down payment
%
That is $19,348 (3.5% of the price). The usual minimum for this loan is 3.5%.
This week's average ± a quarter or half point.
National average as of November 5, 2026 (Freddie Mac); your rate may be different.
Adjust advanced details⌄
Estimated monthly payment
Local data
$4,543
at 7.18% · 30 years
Loan amount
$542,787
Total interest
$780,944
Paid off in
November 2056
Includes $9,335 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $2,028 a month
Tight
$2,028 to $2,607 a month
Hard
more than $2,607 a month
Your payment · 63%
Compared with the typical household income in Federal Way ($86,909 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$3,677
Property tax
$392
Home insurance
$230
FHA mortgage insurance (MIP)
$244
You need at least $19,348 for the down payment, plus closing costs.
This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.
Total monthly payment $4,543; principal and interest $3,677.
The city and its county
Federal Way and King County
Federal Way is in King County, Washington. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).
Federal Way
Map of King County, Washington, with Federal Way marked. Around it, the neighboring counties.
Federal Way
King County
Other cities with a page
Federal Way's own numbers
Typical home value
$552,800
Typical monthly rent
$1,797
Typical yearly household income
$86,909
Households that own their home
55%
Effective property tax rate
0.85%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of King County
FHA limit, one-unit home
$1,063,750
Conventional limit, one unit
$1,063,750
HUD fair market rent, 2 bedrooms
$2,549
Price change over 5 years (FHFA)
+37%
Homes in a high flood-risk zone
1%
HUD, FHFA and FEMA don't publish these numbers by city.
Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of King County.
A typical home in Federal Way is worth $552,800: 36% below the county and 2% below Washington. With the typical household income in Federal Way ($86,909 a year), a typical home costs 6.4 times what the household earns in a year.
Years of income to pay for a typical home
The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.
Federal Way6.4 years
King6.9 years
Washington5.8 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in King County
According to FHFA’s house price index, home prices in King County rose 101% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of King County.
Yearly change in FHFA’s price index in King County, 2016 to 2025
2016: +13.4% +13.4% 2016
2017: +12.7% +12.7% 2017
2018: +9.2% +9.2% 2018
2019: +1.8% +1.8% 2019
2020: +3.5% +3.5% 2020
2021: +11.3% +11.3% 2021
2022: +15.8% +15.8% 2022
2023: +0.2% +0.2% 2023
2024: +4.8% +4.8% 2024
2025: +0.9% +0.9% 2025
Change in FHFA’s price index in King County, Washington and the United States
Period
County
Washington
U.S.
Last year (2025)
+0.9%
+1.8%
+2.9%
5 years (2020–2025)
+37%
+44%
+47%
10 years (2015–2025)
+101%
+113%
+85%
The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data
Federal Way next to King County, Washington and the U.S.
Three numbers side by side. “Typical” means the median: half are above it and half below.
Typical home value
Federal Way$552,800
King$859,900
Washington$564,600
United States$332,700
Typical monthly rent
Federal Way$1,797
King$2,092
Washington$1,760
United States$1,413
Typical yearly household income
Federal Way$86,909
King$124,746
Washington$98,141
United States$80,734
See the full table
Federal Way next to King County and Washington
Measure
Federal Way
King County
Washington
U.S.
Typical home value
$552,800 ▼36% below the county
$859,900
$564,600
$332,700
Typical monthly rent
$1,797 ▼14% below the county
$2,092
$1,760
$1,413
Typical yearly household income
$86,909 ▼30% below the county
$124,746
$98,141
$80,734
Households that own their home
55%
55%
64%
65%
Typical yearly property tax
$4,706 ▼34% below the county
$7,114
$4,556
$3,119
Effective property tax rate
0.85% ▲0.02 points above the county
0.83%
0.81%
0.94%
Renters with high rent for their income
61% ▲15 points above the county
47%
50%
51%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below King County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.
Four ways to pay for a typical home in Federal Way
For a typical $552,800 home in Federal Way, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Federal Way's typical property tax, an example home insurance and mortgage insurance when it applies.
FHA, 3.5% down$4,543a month
Least cash to close
Down payment
$19,348
Cash to close
$35,932
Rate
7.18%
Mortgage insurance
FHA MIP · $244
Conventional, 5% down$4,442a month
Down payment
$27,640
Cash to close
$44,224
Rate
7.18%
Mortgage insurance
PMI · $263
Conventional, 20% down, no PMI$3,618a month
Down payment
$110,560
Cash to close
$127,144
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$4,129a month
Down payment
$82,920
Cash to close
$99,504
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in Federal Way
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Least cash to close
$4,543
$19,348
$542,787
7.18%
FHA MIP · $244
$35,932
580
Conventional, 5% down
$4,442
$27,640
$525,160
7.18%
PMI · $263
$44,224
620*
Conventional, 20% down, no PMI
$3,618
$110,560
$442,240
7.18%
None
$127,144
620*
ITIN, 15% down (example)
$4,129
$82,920
$469,880
8.18%
None
$99,504
Set by the lender
The option that asks for the least cash to close is FHA, 3.5% down.
Cash to close = down payment plus 3% of the price in closing costs (example).
Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.
Typical rent in Federal Way is $1,797 a month: 14% below the county. In Federal Way, 61% of renter households pay 30% or more of their income in rent.
HUD publishes a fair market rent for all of King County, by unit size. To pay the 2-bedroom one ($2,549 a month) without spending more than 30% of your income, you would need to earn $49.02 an hour working full time.
What you need to earn to pay it without spending more than 30% of income, working full time.
HUD fair market rent in King County (Fiscal year 2027)
Size
Fair rent a month
Hourly wage
Yearly income
Studio
$2,091
$40.21
$83,640
1 bedroom
$2,180
$41.92
$87,200
2 bedrooms
$2,549
$49.02
$101,960
3 bedrooms
$3,324
$63.92
$132,960
4 bedrooms
$3,954
$76.04
$158,160
Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027
By ZIP code
Fair market rent by ZIP code in Federal Way
HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Federal Way has 2 ZIP codes with their own.
For 2 bedrooms it runs from $2,240 in 98003 to $2,340 in 98023.
None is above the fair market rent for King County ($2,549).
Fair market rent by ZIP code and size in Federal Way, fiscal year 2027.
98003
$1,840
$1,920
$2,240
$2,920
$3,470
98023
$1,920
$2,000
$2,340
$3,050
$3,630
ZIP code2 bd3 bd
98003 $2,240$2,920
98023 $2,340$3,050
1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Federal Way when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD)Fiscal year 2027Small Area Fair Market Rents (HUD) (external site)Source: Census Bureau ZCTA-to-place relationship fileData from 2020 dataCensus Bureau ZCTA-to-place relationship file (external site)
HUD lists 17 buildings with rents for lower incomes in Federal Way. These are the largest.
Uptown Square1066 S 320th St, Federal Way 98003300 homes, 296 low-income · 1 bd: 86 · 2 bd: 98 · 3 bd: 57 · 4 bd: 59 · In service since 2017 · For people with disabilities, families
Park 1635703 16th Ave S, Federal Way 98003293 homes, 289 low-income · 1 bd: 66 · 2 bd: 78 · 3 bd: 54 · 4 bd: 95 · In service since 2015 · For people with disabilities, families
Crestview West Apartments27912 Pacific Hwy S, Federal Way 98003246 homes, 242 low-income · Studio: 25 · 1 bd: 54 · 2 bd: 167 · In service since 2005 · For people with disabilities
Kitts Corner1201 S 336th St, Federal Way 98003216 homes, 213 low-income · 1 bd: 24 · 2 bd: 78 · 3 bd: 42 · 4 bd: 72 · In service since 2016 · For people with disabilities, families
Parkway Apartments2206 SW 334th Pl, Federal Way 98023208 homes, 203 low-income · 1 bd: 136 · 2 bd: 72 · In service since 2003 · For people with disabilities
You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.
There are 4 HUD-approved agencies with an office in King County; 3 say they serve in Spanish.
No down payment, repair or rent-help program on our list is for Federal Way or King County. The ones below are statewide in Washington: they work in Federal Way the same as in the rest of the state.
Washington state commission 0% second mortgage for 3%, 4% or 5% of the first mortgage, with no monthly payments; you do not need to be a first-time buyer.Offered by Washington State Housing Finance Commission.
Washington state commission loan with no monthly payments of up to 20% of the price (maximum $150,000) plus closing costs, for first-time buyers whose family lived in Washington before 1968 and belonged to a group affected by housing discrimination, including Hispanic people.Offered by Washington State Housing Finance Commission.
Washington state commission loan of up to $15,000 at 1% simple interest, with no monthly payments, for the down payment and closing costs of first-time buyers with the House Key Opportunity mortgage.Offered by Washington State Housing Finance Commission.
No legal help resource on our list is for Federal Way or King County in particular.
If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.
Short answers with the numbers for Federal Way and all of King County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.
How much does a typical home cost in Federal Way?
The typical home value in Federal Way is $552,800, according to the U.S. Census Bureau (average 2020–2024). For comparison, in King County it is $859,900.
How much does it cost to rent in Federal Way?
Typical rent in Federal Way is $1,797 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in King County is $2,549.
What is the FHA loan limit in Federal Way?
Federal Way uses the FHA limit for all of King County (2026): $1,063,750 for a one-unit home and $2,045,700 for a four-unit home.
How much property tax do owners pay in Federal Way?
The typical homeowner in Federal Way pays $4,706 a year, according to the U.S. Census Bureau. That is 0.85% of the home’s value; in King County, the rate is 0.83%.
Where can I find free help to buy or rent in Federal Way?
There are 4 HUD-approved counseling agencies with an office in King County. 3 say they serve in Spanish. They can help you get ready to buy, with your credit, or with rent.
