Federal Way, Washington Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Federal Way, Washington rental market.
Federal Way, Washington
Average Apartment Rent
$1,855
Y-o-Y Change in Average
Apartment Rent
-1.1%
As of May 2026
Compared to a year ago, Federal Way, Washington apartments have recorded a -1.1% rent decrease.
Federal Way, Washington Average apartment rent trend
Federal Way, Washington Average Apartment Rent
Federal Way, Washington Apartment rent ranges
At 58.15%, apartments priced $1,500 - $2,000 represent the bulk of Federal Way, Washington rentals, while condos priced $2,500 - $3,000 hold the lowest share of the market – 4.71%.
Federal Way, Washington Housing tenure**
Renters take up 45% of Federal Way, Washington real estate, occupying a total of 16,216 units, while homeowners live in 20,138 properties.
Median number of rooms of renter-occupied housing units**
3.9
Renter median household income**
$56,700
Average household size of renter-occupied housing units**
2.59
Rental vacancy rate**
4.5%
Federal Way, Washington Renter-occupied housing units by no. of bedrooms**
There are 5,967 rentals in Federal Way, Washington with 2 beds making up the highest share of the market, at 37%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 116 units. Overall, the median number of rooms in Federal Way, Washington homes for rent is 3.9.
Federal Way, Washington Renter-occupied units by age of householder**
Most condos for rent in Federal Way, Washington are occupied by residents in the 25 - 34 years age group (26%), followed by those in the 35 - 44 years age group (21%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 3%.
Federal Way, Washington Renter-occupied housing units by family type**
Federal Way, Washington Renter-occupied housing units by the presence of own children**
A total of 9,434 apartments for rent in Federal Way, Washington, or 58% of all rentals are family households. Additionally, 36% of rental homes include children under the age of 18 – that’s 5,847 units. All in all, the median size of a renter-occupied household in Federal Way, Washington is 2.59.
Federal Way, Washington Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 22% of the rental market. In contrast, residents with less than a high school degree reside in 9% of the homes for rent in Federal Way, Washington.
Federal Way, Washington Renter-occupied units by year structure built**
The highest share of Federal Way, Washington apartment rentals, namely 28% or 4,605 units, were Built 1980 - 1989, followed by those Built 1990 - 1999 (19%, 3,015 units), and the ones Built 1970 - 1979 (18%, 2,949 units).
Federal Way, Washington Renter-occupied units by year householder moved in**
Median year renter moved into unit 2017
Most Federal Way, Washington renters (46%) moved in 2010 to 2017, while only 1% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Federal Way, Washington condos for rent is 2017.
Federal Way, Washington Renter-occupied housing units by vehicles available**
When it comes to transportation options, 47% of Federal Way, Washington renters have 1 vehicle available per household, 31% of them have 2 vehicles available, and 10% have No vehicle available.
Federal Way, Washington Means of transportation to work of householders living in renter-occupied housing units**
Federal Way, Washington Geographical mobility in the past year for householders living in renter-occupied housing units**
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Federal Way, Washington apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
