Federal Way, WA—98023
Real Estate Data & Market Trends
Key Metrics at a Glance
Median Home Value
$619,000
2.1% YoY Growth
Household Income
$102,000
32.1% YoY Growth
Days on Market
37
6.0% Longer YoY
Home Price Forecast
-1.7%
Median Rent
$2,000
17.9% YoY Growth
1-Bed Rent
$1,490
0.7% YoY Growth
2-Bed Rent
$2,000
1.5% YoY Growth
3-Bed Rent
$2,840
1.1% YoY Growth
Other Zip Codes in Federal Way, WA
Home Price Trends — Federal Way, WA
As of May '26, the median home price in Federal Way, WA is $619,000, with a year-over-year change of -2.1%. This indicates that home prices in Federal Way, WA are decreasing. According to Zillow, the 1-year price projection is -1.7%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $619,000 | -2.1% |
| Single Family | $635,000 | -2.0% |
| Condos | $305,000 | -7.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed |