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Average Rent in Federal Way 98003 & Rent Trends

What is the average rent in Federal Way 98003?

The average listed apartment rent in Federal Way 98003 is $1,808 per month, as of November 12, 2026. This sample includes 77 priced apartments in 5 buildings. These are tracked asking prices, not signed leases.

We use published total monthly rent when known and base rent otherwise. Unknown fees remain unknown. Included building observations run from November 8, 2026 through November 12, 2026. Buildings without a qualifying price do not count in this sample. The guide directory can include more buildings.

Rent prices and market trends across 5 apartment communities in Federal Way 98003, Federal Way, WA. Prices update after successful source checks.

Area All Areas
Federal Way 98003 98023
Beds All Bedrooms 1 Bed 2 Bed 3 Bed

Showing any bedrooms in Federal Way 98003.

Market Average

$1,808/mo

▲ +5.7% from last month

Lowest Available

$1,352/mo

cheapest unit on market

Communities

5

tracked daily

Units Listed

77

available now

Federal Way 98003 vs Federal Way, WA Average

Federal Way 98003 is cheaper than the Federal Way, WA average by $95/mo (5%). The citywide average is $1,903/mo across all neighborhoods.

Is Rent Going Up or Down in Federal Way 98003?

As of November 2026, the average rent in Federal Way 98003 is $1,808 per month across 5 apartment communities and 77 available units. Rents have increased $98 (5.7%) over the past month.

The most affordable option is Avana Star Lake starting at $1,352/mo. By unit type, a 1-bedroom averages $1,597/mo, a 2-bedroom averages $2,038/mo, a 3-bedroom averages $2,393/mo.

Prices range from $1,352 to $2,538 per month. The most common price point is the $1,600 range, where 23 units are currently listed.

Federal Way 98003 Rent Price History

Timeframe
View as table
Month Avg Rent Change Properties
July 2026 $1,743 - 5
August 2026 $1,819 +$76 5
September 2026 $1,803 -$16 5
October 2026 $1,755 -$48 5
November 2026 $1,817 +$62 5

The trend line and monthly averages track each building's average listed price, recorded daily with outliers trimmed. The current month is a month-to-date figure, so it can sit above or below today's live market average shown at the top of this page.

Average Rent by Bedroom

Rent Price Distribution

Rent by Bedroom Type in Federal Way 98003

1 Bed
$1,597
from $1,352 · 45 units
2 Bed
$2,038
from $1,761 · 26 units
3 Bed
$2,393
from $2,175 · 6 units

Rent Prices by Apartment in Federal Way 98003

Property Starting at Average Units Rating
Avana Star Lake $1,352/mo $1,769/mo 44 2.5
Bayview Apartment Homes $1,510/mo $1,622/mo 3 3.7
The Commons $1,600/mo $1,877/mo 23 4.5
Uptown Square Apartments $1,705/mo $1,860/mo 6 3.3
Riverstone Apartments $2,175/mo $2,175/mo 1 3.9

Frequently Asked Questions About Rent in Federal Way 98003

How many bedrooms are you looking for?

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Any bedrooms

What is the average rent in Federal Way 98003?
The average listed apartment rent in Federal Way 98003 is $1,808 per month, as of November 12, 2026. This sample includes 77 priced apartments in 5 buildings. These are tracked asking prices, not signed leases.

What rent range can I find in Federal Way 98003?
The apartment listings we track in Federal Way 98003 range from $1,352 to $2,538 per month, as of November 12, 2026. These are the lowest and highest listed prices. They are not a typical price for every apartment. The building, floor plan, and lease terms can affect the price.

Are rents going up or down in Federal Way 98003?
The daily building-average rent rose by $100 (5.7%) over 36 days between observations in October 2026 and November 2026. This compares recorded asking rents. The current month's figures may still be incomplete, and the building mix can change.

How much is a 1-bedroom apartment in Federal Way 98003?
1-bedroom apartments average $1,597 per month across 45 priced listings in Federal Way 98003. Listed rents range from $1,352 to $1,940 per month, as of November 12, 2026. Compare apartments with similar floor plans and lease terms.

How much is a 2-bedroom apartment in Federal Way 98003?
2-bedroom apartments average $2,038 per month across 26 priced listings in Federal Way 98003. Listed rents range from $1,761 to $2,475 per month, as of November 12, 2026. Compare apartments with similar floor plans and lease terms.

How much is a 3-bedroom apartment in Federal Way 98003?
3-bedroom apartments average $2,393 per month across 6 priced listings in Federal Way 98003. Listed rents range from $2,175 to $2,538 per month, as of November 12, 2026. Compare apartments with similar floor plans and lease terms.

How do 1-bedroom and 2-bedroom rents compare in Federal Way 98003?
The 1-bedroom average is $1,597 per month across 45 listings. The 2-bedroom average is $2,038 across 26 listings, $441 (27.6%) higher. This is a comparison of listing groups, not the cost to upgrade a specific apartment.

Which tracked building has the lowest starting rent in Federal Way 98003?
Avana Star Lake has the lowest starting rent among the buildings in the comparison table, at $1,352 per month. We track 44 priced listings matching your bedroom choice in that building, as of November 12, 2026. The starting price applies to its lowest-priced matching apartment. Check that apartment's latest price and availability.

Which rent range has the most listings in Federal Way 98003?
The $1,600 to $1,800 monthly range has the most matching listings: 23 units, or 29.9% of the priced apartments we track in Federal Way 98003. This count does not tell us how fast the apartments rent.

How many apartment listings do you track in Federal Way 98003?
We track 77 priced units at 5 apartment buildings, as of November 12, 2026. This is not the total number of apartments in those buildings. A listing can change or become unavailable. Open the apartment details to check its latest status.

How much rent history is available for Federal Way 98003?
We have recorded rent data on 59 days from July 2026 through November 2026 for apartment listings in Federal Way 98003. Some dates can be missing. The chart only shows recorded data. The current month includes the days recorded so far.

Why can the headline rent differ from the trend chart in Federal Way 98003?
The average at the top of the page gives each matching apartment equal weight. The chart first averages recorded prices within each building, then compares buildings. It removes the highest and lowest groups when at least ten buildings contribute and omits days with fewer than five buildings. Different dates, building counts, and listing mixes can produce different figures. The monthly table averages the recorded daily figures.

Does my bedroom choice change the prices and answers?
Yes. Your chosen area and bedroom count filter the asking rents, listing counts, rent ranges, and answers on this page. The active community exclusions are Student housing and 55+ / senior community and Corporate housing and Military / active duty housing and Veteran housing. When you choose a bedroom count, the history chart uses recorded prices for matching apartments with a known identity. If those records are missing, we leave the chart empty rather than use prices for other bedroom types. Open an individual apartment to check its own price history.

Do these rents include utilities, parking, and other fees?
We use the published total monthly rent when it is available and the base rent otherwise. Unknown fees are not zero. Utilities, parking, pet charges, deposits, and one-time costs can add to the amount you pay. Check the selected unit and lease terms for a complete quote.

How should I compare free-rent offers with listed rent?
A free-rent offer can reduce the effective cost over a lease without changing the listed monthly rent. Compare the same lease length and move-in date, then include required charges and the offer conditions. The market averages do not assume an unconfirmed discount.

Does this page represent every rental in the market?
These figures describe the priced apartment listings we track, not every rental home or every occupied apartment. Coverage and the mix of bedrooms, buildings, and locations can change. A lower market average does not prove that the same apartment received a price cut.

How fresh are the Federal Way 98003 rent figures?
We schedule rent updates each day, but buildings can have different price-check dates. The latest accepted price check for these listings was November 12, 2026. The month label does not mean we checked every price today. Open the building or apartment details for its latest price and availability.

What salary do I need to live comfortably in Federal Way 98003?

Built on the 25 to 30 percent rent-to-income guideline used by most landlords and credit-scoring models.

Minimum to afford average rent

$72,000/year

Based on the 30 percent rule, using our tracked average rent of $1,808/mo.

Comfortable income

$87,000/year

Based on the 25 percent rule, leaving more room for savings, transport, and groceries.

To afford the cheapest tracked apartment ($1,352/mo), you need to earn at least $54,000/year.

Median household income in Federal Way 98003 is $82,144 , about 5% below the comfortable-living threshold.

Explore Federal Way 98003 Apartments

Browse all 5 communities with daily-updated pricing and availability.

Browse All Apartments Find Your Match

Cost of living in Federal Way 98003

Overall prices in Federal Way 98003 runs above the national average by about 13% (BEA Regional Price Parity index 112.7, where 100 equals the U.S. average). The breakdown below estimates monthly costs for a single adult, using national consumer-spending baselines from the Bureau of Labor Statistics scaled by Federal Way 98003's regional price parities.

Category Monthly estimate
Rent (market average) $1,808
Utilities $652
Groceries $584
Transportation $1,553
Healthcare $758
Other goods and services $1,212
Estimated total $6,567/mo

Population

99,232

Median household income

$82,144

Census median rent

$1,738/mo

Census rent burden

33.7%

Median age

37.6

Mean commute

32 min

Methodology

Rent data

We use listed asking rents and schedule daily data updates. Individual buildings can have different verification dates. Check the building or unit page for its latest price and availability.

Cost of living

Estimates combine national consumer-spending baselines from the U.S. Bureau of Labor Statistics (Consumer Expenditure Survey) with the U.S. Bureau of Economic Analysis Regional Price Parities (MARPP dataset). Both are peer-reviewed federal data releases published annually.

Salary to live comfortably

We estimate annual income by dividing annual rent by 30 percent for the affordability figure and 25 percent for the comfortable-income figure. These estimates are a guide, not a guarantee of rental approval.

Demographic figures

Median household income, population, median age, commute time, Census median rent, and rent as percentage of income come from the U.S. Census Bureau's American Community Survey 5-year estimates, the most recent complete release.

Cost of living and demographic figures were last published in 2023.
Washington Rent Trends
Compare rent across all Washington cities
Explore Federal Way, WA on Map
See neighborhoods and rent data interactively
US-wide rent comparison
See how Federal Way, WA rents stack up against the national median

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