Rent in Federal Way, WA
Across Federal Way's 4 ZIP codes, a 2-bedroom typically rents for about $2,338 a month, with figures from $1,809–$2,600. The highest typical rent is in 98093 ($2,600) and the lowest in 98003 ($2,047). Owner-occupied homes in King County pay about 0.83% of their value a year in property tax, and the 30-year fixed mortgage rate averaged 7.24% in the week of Oct 29, 2026.
Rent by bedrooms
| Size | Typical | Range across ZIPs | ZIPs |
|---|---|---|---|
| Studio | $1,929 | $1,532–$2,130 | 4 |
| 1 bed | $2,015 | $1,390–$2,220 | 4 |
| 2 beds | $2,338 | $1,809–$2,600 | 4 |
| 3 beds | $3,086 | $2,196–$3,390 | 4 |
| 4 beds | $3,640 | $2,182–$4,030 | 4 |
Typical = median of each ZIP's best guess. Gross rent (rent plus tenant-paid utilities). Sources: HUD Small Area Fair Market Rents (Oct 1, 2026), Census ACS 5-year median gross rent (Dec 31, 2024) and HUD county Fair Market Rents (Oct 1, 2026).
Federal Way ZIP codes
2 bedsFrequently asked questions
- What is the average rent for a 2-bedroom in Federal Way, WA?
- About $2,338 a month: the median of the typical rents in 4 ZIP codes, which range from $1,809–$2,600. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 1-bedroom in Federal Way, WA?
- About $2,015 a month: the median of the typical rents in 4 ZIP codes, which range from $1,390–$2,220. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 3-bedroom in Federal Way, WA?
- About $3,086 a month: the median of the typical rents in 4 ZIP codes, which range from $2,196–$3,390. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a studio in Federal Way, WA?
- About $1,929 a month: the median of the typical rents in 4 ZIP codes, which range from $1,532–$2,130. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 4-bedroom in Federal Way, WA?
- About $3,640 a month: the median of the typical rents in 4 ZIP codes, which range from $2,182–$4,030. Figures are gross rent (rent plus tenant-paid utilities).
- Which Federal Way ZIP code has the highest rent?
- For a 2-bedroom, 98093 has the highest typical rent at $2,600 a month, and 98003 the lowest at $2,047.
- What is the property tax rate in Federal Way, WA?
- Owner-occupied homes in King County pay a typical 0.83% of their value a year (Census ACS, median taxes paid ÷ median home value, Dec 31, 2024). Investors often pay more after a purchase: the home is reassessed at the sale price and there is no homestead exemption.
- What is the current 30-year mortgage rate?
- The 30-year fixed rate averaged 7.24% in the week of Oct 29, 2026 (Freddie Mac PMMS via FRED). It's a national average for owner-occupied loans; investment property loans usually cost more.
- Where do these Federal Way rent figures come from?
- HUD Small Area Fair Market Rents (Oct 1, 2026), Census ACS 5-year median gross rent (Dec 31, 2024) and HUD county Fair Market Rents (Oct 1, 2026).