Market Overview
Home Prices in Federal Way, WA
The median home value in Federal Way, WA is $600,995 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 1% compared to a year ago and down 0.2% from two years prior.
Compared to the U.S. national median of $410,000, homes in Federal Way are priced47% above average. Federal Way is part of the Seattle-Tacoma-Bellevue, WA metro area.
Over the past five years, Federal Way home values have risen by approximately14.1%, reflecting steady appreciation in this market.
Price History
Federal Way Home Price Trend
City Comparison
Federal Way vs. National Median
At $600,995, homes in Federal Way cost 47% above the national median of $410,000. Buyers in Federal Way should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Federal Way?
20% Down Payment
$120,199
on $600,995
Monthly P&I
$3,134/mo
30-yr @ 6.8%
Total Monthly Est.
~$3,980/mo
incl. taxes & insurance
Income Needed
$159,200
gross annual (30% rule)
10% Down Option
$60,100
+ PMI applies
Loan Amount (20% dn)
$480,796
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Federal Way, WA?
The median home value in Federal Way is $600,995 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 1% year-over-year.
How much have home prices changed in Federal Way?
Over the past year, home values in Federal Way have decreased by 1%. Over five years, prices have risen approximately 14.1%.
How much do I need to earn to buy a home in Federal Way?
To comfortably afford the median home price of $600,995 with a 20% down payment ($120,199) at today's rates (6.8%), you'd need a gross annual income of approximately $159,200. This assumes keeping total housing costs at or below 30% of gross income.
How does Federal Way compare to the national average home price?
The national median home value is approximately $410,000. At $600,995, homes in Federal Way are 47% above the national average.
What metro area is Federal Way part of?
Federal Way is part of the Seattle-Tacoma-Bellevue, WA metropolitan area. Home prices and market conditions can vary across the broader metro region.