What to know before you move: cost, market timing, who it fits.
If you're considering a move to Federal Way, WA, the most important variables are the local housing market, the cost structure (taxes, insurance, utilities), and how well the city fits your day-to-day life. This page summarizes the housing market read; pair it with the cost of living page for the full picture.
Federal Way is a city in King County, Washington, with an estimated population of 100,252. It anchors the Seattle-Tacoma-Bellevue metro area. The median home value in Federal Way is $603,936 as of 2026-04, down 1.6% over the last 12 months. Over the last five years, home values have averaged +3.7% annual growth (-2.6% from the 5-year peak). Rents in Federal Way average $1,922 per month, roughly flat year-over-year (+0.6%). The composite momentum score is 55 of 100 (Stable). Conditions are neither hot nor cold, so the local fit matters more than market timing.
Sideways market (-1.6% YoY). No urgency to time the macro trend — focus on the home and neighborhood.
Reasons people move here
- Held the highs: currently -2.6% from the 5-year peak — this market refused to give back gains.
- The data is the data: Federal Way has at least 5 years of Zillow tracking, full Census identification, and is included in the 2-criteria momentum score on this page.
Things to know first
- Local nuance: city-level data smooths over neighborhood differences. School zones, HOA rules, and street-level character matter — visit before deciding.
- Local nuance (school zones, neighborhood quality) varies block by block — visit before deciding.
More about Federal Way
Sources: Zillow ZHVI (home values), Zillow ZORI (rents), US Census ACS + place population. Updated when source agencies publish revisions.