Trouve
34816 1st Ave South,
Federal Way, WA 98003
Studio - 2 Beds | $1,985 - $2,510
Rental Market Trends in Federal Way, WA
What is the average rent in Federal Way, WA?
$1,587/month
Average Rent
683 Sq Ft
Average Apartment Size
+0.3%
Increase in the Last Year
As of January 2025, the average rent in Federal Way, WA is $1,587 per month. For comparison, the national average rent price in the US is currently $1,555/month, which means Federal Way rent prices are 2% higher than the national average. When you rent an apartment in Federal Way, you can expect to pay about $1,245 per month for a studio, $1,587 for a one-bedroom apartment, and around $1,886 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $2,326 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Federal Way, WA?
In the past year, rent has increased by 0.3%, which averages out to $5 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated January 2025
Legend
2024
2025
Rent Ranges in Federal Way, WA
Last Updated January 2025
$1,501 - $2,000
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
8%
$700 - $1,000/month
18%
$1,001 - $1,500/month
52%
$1,501 - $2,000/month
23%
Above $2,000/month
What salary do I need to live comfortably in Federal Way, WA?
Because the average rent in Federal Way is $1,587, you’ll want to make about $5,290 per month or $63,480 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Federal Way, WA compare to other nearby cities and neighborhoods?
Use the tool below to compare Federal Way, WA to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Nearby City Rent Trends
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Property Management Companies in Federal Way, WA
Targa Real Estate Services
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47
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3,424
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17
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6 Communities in Federal Way
Olympic Management Company
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66
Communities
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5,176
Units
-
24
Cities
5 Communities in Federal Way
AMC
-
675
Communities
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130,487
Units
-
265
Cities
4 Communities in Federal Way
Devco Residential Group
-
40
Communities
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9,343
Units
-
21
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4 Communities in Federal Way
Greystar
-
3,243
Communities
-
895,315
Units
-
829
Cities
3 Communities in Federal Way
FPI Management
-
604
Communities
-
103,513
Units
-
215
Cities
3 Communities in Federal Way
Prime Administration, LLC
-
43
Communities
-
18,335
Units
-
30
Cities
3 Communities in Federal Way
GRE
-
32
Communities
-
4,744
Units
-
13
Cities
3 Communities in Federal Way
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Methodology
† Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
* Percentages may not total 100 due to rounding.