3 Bed | 2.5 Bath | 1,650 Sq. Ft.
There are currently 24,486 real estate properties in Federal Way, WA, with a median automated valuation model (AVM) price of $584,400.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Federal Way, WA, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Federal Way, WA, is $602,476.00, with the most expensive house in Federal Way, WA, topping out at $51,110,100.00 and the cheapest home in Federal Way, WA, clocking in at $120,000.00. In other words, there’s something for every potential homebuyer or savvy investor in Federal Way, WA!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Federal Way, WA, is on a rollercoaster ride. The average rent price in Federal Way, WA, is $1,783.00. Indeed, when looking to rent in Federal Way, WA, you can expect to pay as little as $870.00 or as much as $5,040.00, with the average rent median estimated to be $1,760.00. The good news is that finding an affordable and desirable property to rent in Federal Way, WA -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the Federal Way, WA area at Foreclosure.com. Get information on foreclosure homes for rent, how to buy foreclosures in Federal Way, WA and much more. Save thousands at closing with home foreclosure listings in Federal Way, WA — up to 75% off market value!
Federal Way is located in King, Washington, with an estimated municipal population of 96,289 residents. All of the best foreclosed homes for sale in Federal Way are located in the following zip code areas on Foreclosure.com: 98023 98001 98003 98063 98093. The estimated population per square kilometer (.62 miles) in Federal Way is 1,667.
So, about how much do homes cost in Federal Way? The most recent median value of resident-owned homes in Federal Way is 328,289. An estimated 55.8 percent of households in Federal Way own their homes, with an average family size of 3.28. The median household income in Federal Way is 67,347, with30.5 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Federal Way, the median commute time of resident workers (in minutes) is 35.3. And last, but certainly not least, are you looking for homes to rent in Federal Way? If so, the average rent price paid by renters in Federal Way is 1,334, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Federal Way, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Federal Way is 35.8, split between 49.6 percent male versus 50.4 female. The percentage of residents who report being married in Federal Way is 47.1, with an average family size of 3.28.
The percentage of residents who report their race in Federal Way is as follows:
| White | 51.5% |
| Black / African American | 14.7% |
| Asian | 12.7% |
| American Indian / Alaskan Native | 0.9% |
| Native Hawaiian / Other Pacifc Islander | 2.6% |
| Multi-racial | 8.3% |
| Other | 9.4% |
Looking for family-friendly neighborhoods in and/or near Federal Way? Or maybe you are searching for 55+ active adult communities in and/or near Federal Way?
The percentage of residents who report their age in Federal Way is as follows:
| Under 10 | 13.5% |
| Aged 10-19 | 13.7% |
| 20s | 14% |
| 30s | 14.1% |
| 40s | 12.5% |
| 50s | 13% |
| 60s | 10.5% |
| 70s | 5.9% |
| 80+ | 3% |
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Federal Way with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Federal Way.
How do you know that living in -- or moving to -- Federal Way is right where you need to be? Perhaps you grew up in Federal Way or already live nearby; therefore, the decision to buy a home in Federal Way is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Federal Way for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Federal Way:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Federal Way.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Federal Way can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Federal Way, meanwhile, can field multiple offers from more qualified buyers.
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