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market report · 98023
Federal Way, WA · 98023
64 active listings$654,500 median ask$3,355 est. rent0.5% price/rent
$654,500
Median list price
$3,355/mo
Estimated rent
0.5%
Price / rent ratio
64
Listings
FHFA home price index · 2016–2025
100.5% cumulative change over the window. Source: FHFA ZIP-level HPI.
$1.66
Median rent / sqft
62 comps
$315.43
Median sold / sqft
62 comps
—
Walkability
4.7%
Area unemployment
BLS LAUS
Median household income $104,893 · median home value $589,900 · ACS 2024.
Natural-hazard risk Relatively Moderate (FEMA NRI score 81).
21 schools within ~4 km of the ZIP centroid.
top deals · highest rent-to-price
31813 21st Ave, Federal Way, WA 98023
Federal Way, WA
$79,000$2,118/mo2.7%
4601 SW 320th St, Federal Way, WA 98023
Federal Way, WA
$180,000$2,501/mo1.4%
1721 SW 318th Pl, Federal Way, WA 98023
Federal Way, WA
$240,000$2,449/mo1%
32624 35th Ave, Federal Way, WA 98023
Federal Way, WA
$579,950$5,222/mo0.9%
2752 SW 343rd Pl, Federal Way, WA 98023
Federal Way, WA
$625,000$5,491/mo0.9%
33700 33rd Pl, Federal Way, WA 98023
Federal Way, WA
$659,000$5,152/mo0.8%