Housing costs in Federal Way?
A typical home costs
$584,500, which is 72.9% more expensive than the national average of
$338,100 and 9.3% more expensive than the average Washington home, at
$534,700. Renting a two-bedroom unit in Federal Way costs
$1,990 per month, which is 15.0% more than the national average of
$1,730 and 4.0% cheaper than the state average of
$2,070.
Can I afford Federal Way?
To live comfortably in Federal Way (zip 98023), Washington, a minimum annual income of
$111,960 for a family, and
$68,000 for a single person is recommended.
What does A.I. say about Federal Way?
The cost of living in 98023 Federal Way, WA is relatively low. According to Best Places, the cost of living index in the area is 97.2, which is 3.8 points lower than the U.S. average of 100. Housing costs make up a large portion of this difference, with the median home value at $278,800 and median rent at $1,450 per month; both significantly lower than the national average. Utility costs are also cheaper in Federal Way; they are approximately 21% lower for electricity and 19% lower for natural gas than the national average. Additionally, food prices are about 4% lower than the United States average. Overall, 98023 Federal Way makes for an affordable place to live and work with plenty of amenities and attractions nearby.