Edgewood Heights
10303 20th St E,
Edgewood, WA 98372
$1,790 - $2,325
1-3 Beds
Rental Market Trends in Federal Way, WA
What is the average rent in Federal Way, WA?
$1,562/month
Average Rent
677 Sq Ft
Average Apartment Size
-1.5%
Decrease in the Last Year
As of January 2026, the average rent in Federal Way, WA is $1,562 per month. For comparison, the national average rent price in the US is currently $1,624/month, which means Federal Way rent prices are 4% lower than the national average. When you rent an apartment in Federal Way, you can expect to pay about $1,273 per month for a studio, $1,562 for a one-bedroom apartment, and around $1,862 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $2,335 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Federal Way, WA?
In the past year, rent has decreased by 1.5%, which averages out to $22 less per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated January 2026
Legend
2025
2026
Rent Ranges in Federal Way, WA
Last Updated January 2026
$1,501 - $2,000
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
8%
$700 - $1,000/month
13%
$1,001 - $1,500/month
66%
$1,501 - $2,000/month
13%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Federal Way?
Based on current rent prices, Laurelwood North, Twin Lakes and Alderbrook are the most affordable neighborhoods in Federal Way.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Federal Way?
Based on current rent prices, Wedgewood West, Steel Lake Trails and Alderbrook are the most expensive neighborhoods in Federal Way.
Neighborhood
Average Rent
Average Sq Ft
Which Federal Way neighborhoods have the most rentals available?
The neighborhoods in Federal Way with the most apartments available are Twin Lakes, Alderbrook and Tall Firs .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Federal Way, WA?
Because the average rent in Federal Way is $1,562, you’ll want to make about $5,206 per month or $62,472 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Federal Way, WA compare to other nearby cities and neighborhoods?
Use the tool below to compare Federal Way, WA to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
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One Bedroom
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Two Bedroom
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Three Bedroom
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Nearby City Rent Trends
Apartment communities in Federal Way we think you'll love
Property Management Companies in Federal Way, WA
Targa Real Estate Services
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64
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4,029
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20
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6 Communities in Federal Way
AMC
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645
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127,319
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Devco Residential Group
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35
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8,947
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Avenue5 Residential
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552
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122,349
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219
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3 Communities in Federal Way
TAM Residential
-
80
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-
21,912
Units
-
51
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3 Communities in Federal Way
Olympic Management Company
-
57
Communities
-
4,928
Units
-
21
Cities
3 Communities in Federal Way
Greystar
-
3,446
Communities
-
951,526
Units
-
887
Cities
2 Communities in Federal Way
Bridge Property Management
-
147
Communities
-
56,115
Units
-
79
Cities
1 Community in Federal Way
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in November 2025.
* Percentages may not total 100 due to rounding.