Federal Way appreciation rates and housing market information

Federal Way housing market information

With 83,233 people, 32,589 houses or apartments, and a median cost of homes of $341,974, real estate costs in Federal Way are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Washington communities.

single-family detached homes are the single most common housing type in Federal Way, accounting for 51.70% of the city's housing units. Other types of housing that are prevalent in Federal Way include large apartment complexes or high rise apartments (31.66%), duplexes, homes converted to apartments, or other small apartment buildings (9.12%), mobile homes or trailers (3.78%), and a few row houses and other attached homes (3.69%).

The most prevalent building size and type in Federal Way are three and four bedroom single-family detached homes. The city has a mixture of owners and renters, with 54.30% owning, and 42.26% renting.

There is a lot of housing in Federal Way built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Federal Way built from 1940-1969 (20.38%). A lesser amount of the housing stock also hails from 1995 and later (6.52%), and some were built from 1939 and earlier (6.52%).

Federal Way home appreciation rates

Real estate appreciation rates in Federal Way have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 7.34% during the period.

Over the last year, Federal Way appreciation rates have trailed the rest of the nation. In the last twelve months, Federal Way's appreciation rate has been -8.76%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Federal Way were at -2.30%, which equates to an annual appreciation rate of -9.20%.

Notably, Federal Way's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Washington, our data show that Federal Way's latest annual appreciation rate is higher than 3% of the other cities and towns in Washington.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Federal Way differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Federal Way - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Federal Way real estate investment or home purchase decisions.