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Real Estate Prices & Overview

Steel Lake median real estate price is $520,863, which is more expensive than 42.5% of the neighborhoods in Washington and 69.7% of the neighborhoods in the U.S.

The average rental price in Steel Lake is currently $2,367, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 55.4% of Washington neighborhoods.

Steel Lake is an urban neighborhood (based on population density) located in Federal Way, Washington.

Steel Lake real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Steel Lake neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Home and apartment vacancy rates are 6.1% in Steel Lake. NeighborhoodScout analysis shows that this rate is lower than 59.6% of the neighborhoods in the nation, approximately near the middle range for vacancies.

Notable & Unique Neighborhood Characteristics

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.

Modes of Transportation

More people ride the bus in this neighborhood each day to get to work than 98.4% of U.S. neighborhoods.

Also, in the Steel Lake neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 12.5% of residents here. This is a higher proportion of walking commuters than we found in 96.2% of American neighborhoods. Get ready to put on your walking shoes if you move here!

People

Divorcees may find friendship and understanding in this neighborhood, as 20.4% of its residents are divorced. NeighborhoodScout's exclusive analysis found that this divorce rate is higher than in 96.0% of the neighborhoods in America.

Diversity

Did you know that the Steel Lake neighborhood has more Lebanese and Sub-Saharan African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.3% of this neighborhood's residents have Lebanese ancestry and 13.3% have Sub-Saharan African ancestry.

Steel Lake is also pretty special linguistically. Significantly, 9.7% of its residents five years old and above primarily speak African languages at home. While this may seem like a small percentage, it is higher than 99.7% of the neighborhoods in America.

Migration / Stability

Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. What is interesting to note, is that the Steel Lake neighborhood has a greater percentage of residents born in another country (44.1%) than are found in 95.8% of all U.S. neighborhoods.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the Steel Lake neighborhood in Federal Way are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 77.0% of U.S. neighborhoods. With 19.8% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 68.5% of U.S. neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Steel Lake neighborhood, 32.1% of the working population is employed in manufacturing and laborer occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 30.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (20.0%), and 17.0% in executive, management, and professional occupations.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Steel Lake neighborhood is English, spoken by 40.5% of households. Other important languages spoken here include Spanish, African languages, Korean and French.

Ethnicity / Ancestry

Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.

In the Steel Lake neighborhood in Federal Way, WA, residents most commonly identify their ethnicity or ancestry as Mexican (26.2%). There are also a number of people of Sub-Saharan African ancestry (13.3%), and residents who report Asian roots (10.2%), and some of the residents are also of English ancestry (8.0%), along with some Italian ancestry residents (5.2%), among others. In addition, 44.1% of the residents of this neighborhood were born in another country.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Steel Lake neighborhood spend between 15 and 30 minutes commuting one-way to work (32.4% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (49.7%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (18.7%) and 15.3% of residents also carpool with coworkers, friends, or neighbors for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


Real Estate includes:
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Rental Market
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Neighborhood Setting
Economics & Demographics include:
Lifestyle & Special Character
Household Types
Commute To Work
Migration & Mobility
Race & Ethnic Diversity
Employment Industries & Occupations
Income & Unemployment Rate
Higher Education Attainment
Crime includes:
Neighborhood Crime Index
Crimes Per Square Mile
Property Crime Comparison
Violent Crime Comparison
Schools include:
School Ratings
Schools In District
Public School Test Scores
School District Enrollment
Educational Expenditures

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