Zip 98023 (Federal Way, WA) Housing

Housing in Federal Way, WA (98023) has a median value of $584,500, which is much higher than the U.S. median value of $338,100. In the last year, house appreciation in Federal Way has increased by 7.43%, slightly lower than the national appreciation rate of 8.27%. Despite this slight difference, housing in Federal Way is still relatively marketable and attractive to potential buyers due to its desirable location and access to quality schools and neighborhoods.

The median home cost in Federal Way (zip 98023) is $584,500. Home appreciation the last 10 years has been 167.2%. Home Appreciation in Federal Way (zip 98023) is up 14.8%.

Average Age of Homes

- The median age of Federal Way (zip 98023) real estate is 35 years old

The Rental Market in Federal Way (zip 98023)

- Renters make up 33.1% of the Federal Way (zip 98023) population
- 2.3% of houses and apartments in Federal Way (zip 98023), are available to rent

DID YOU KNOW

Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.

Median Monthly Rent by Number of Bedrooms

Housing by Year Built

Housing	Federal Way, Washington	United States
	18,997.0	139,647,020.0
	38	42
	$584,500	$338,100
	14.8%	16.6%
	61.9%	57.0%
	167.2%	101.1%
	$10.38	$10.98
	$4,204	$2,690
	59.7%	57.4%
	5.8%	11.2%
	34.5%	31.4%
Vacant Housing
	2.3%	1.9%
	0.4%	0.4%
	0.7%	0.7%
	0.2%	0.4%
	0.0%	3.6%
	2.2%	4.1%
Value of Owner-Occupied Housing
	1.1%	2.6%
	0.8%	2.4%
	0.2%	2.8%
	0.1%	3.9%
	0.2%	4.5%
	0.6%	11.3%
	3.5%	13.0%
	13.4%	20.1%
	28.7%	13.6%
	29.3%	8.3%
	17.7%	9.7%
	3.1%	3.9%
	1.1%	2.2%
	0.1%	0.8%
	0.2%	1.1%
Housing Units by Year Structure Built
	0.0%	0.2%
	8.4%	13.6%
	8.4%	13.6%
	18.3%	13.6%
	28.5%	13.2%
	21.8%	14.8%
	18.3%	13.6%
	2.9%	10.0%
	0.4%	4.7%
	1.3%	12.2%

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