Landlord Resources
How to Get a Loan for a Rental Property
Rental property loans differ from traditional mortgages, needing larger down payments, higher interest rates, and reserves, often disregarding projected rental income.
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What to Know About
Life in Federal Way & Beyond
Federal Way shares many of the great qualities that make Washington a desirable place to live.
Washington is home to the famous Cascade Mountains and the Olympic Mountains mountain range. From its breathtaking landscapes to its thriving economy, there's something for everyone in this vibrant state. First, explore its rich history and culture by visiting museums such as the Museum of Pop Culture and the Burke Museum of Natural History & Culture. Then, take your education to the next level at prestigious universities like the University of Washington and Washington State. Washington's economy is diverse and robust, driven by key industries such as technology, agriculture, and manufacturing.
There's no shortage of ample opportunities for adventure and excitement. From exploring the stunning trails of Mount Rainier National Park to fishing in the picturesque Puget Sound, nature enthusiasts will be in their element. And sports fans will enjoy cheering for Seattle Seahawks (NFL), Seattle Kraken (NFL), and Seattle Mariners (MLB) and supporting their favorite college teams. Discover famous attractions like the Space Needle, the Pike Place Market, and the historic city of Seattle.
A hub of innovation and creativity, Washington is a great state offering endless opportunities, which makes it a great place to live.
Rental Market Trends
Federal Way, WA
As of June 2026, Federal Way's rental market is stable, offering a predictable rental market where most units lease within a few weeks. Federal Way's average rent is 6.1% ($108) lower than the Washington average of $1,771 and 7.5% ($134) lower than the U.S. average of $1,797.
Average Rent
$1,663
Monthly ChangeMonth Over Month Change
7.8% ($141)
Yearly ChangeYear Over Year Change
2.3% ($38)
Avg. Days on MarketAverage Days on Market
45
| Unit Type | Average Rent | Monthly ChangeMonth Over Month Change | Yearly ChangeYear Over Year Change |
|---|---|---|---|
| 1 Bed | $1,471 | 1.9% ($28) | 2.9% ($44) |
| 2 Beds | $1,738 | No change | 1.1% ($19) |
| 3 Beds | $2,761 | 2.8% ($80) | 6.1% ($180) |
Rental market trends are calculated using listing data from RentalSource.
Frequently Asked Questions
Federal Way Rental Market FAQs
Explore rental prices, market trends, and availability in Federal Way, WA.
The average rent in Federal Way, WA is $1,663 per month.
Homes in Federal Way typically rent for between $1,030 and $3,589 per month, with an average of $1,663 per month.
In Federal Way, the average rent for a 1-bedroom home is $1,471 per month, for a 2-bedroom home, $1,738 per month, and a 3-bedroom home is $2,761 per month.
The average rent in Federal Way is 7.5% ($134) lower than the national average of $1,797 per month.
The average rent in Federal Way has decreased by 7.8% ($141) in the last month and increased by 2.3% ($38) over the past year.
The rental market in Federal Way, WA, is currently stable, offering a predictable rental market where most units lease within a few weeks.
In Federal Way, WA, the average rental stays on the market for approximately 45 days. While most properties are rented within this timeframe, factors like seasonality, demand, and property type can affect how quickly a rental leases.
There are currently 43 rental properties available in Federal Way, WA.
Based on the current averages, a household would need an annual income of $69,520 to comfortably afford a 2-bedroom home in Federal Way.
