Federal Way, WA vs Lake Stevens, WA

Federal Way is moderately more affordable than Lake Stevens, with a 13.9% lower cost of living index. Federal Way scores 133 compared to 155 for Lake Stevens, where the US average is 100. This difference means residents of Lake Stevens can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Federal Way is $1,738/month compared to $2,189/month in Lake Stevens — a 21% difference. Home values follow the same pattern: Federal Way is more affordable at $499,600 median vs $593,900.

Median household income in Federal Way is $82,144 compared to $118,290 in Lake Stevens (-30.6%). While Lake Stevens is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Federal Way spend roughly 25.4% of their income on rent, more than the 22.2% in Lake Stevens.

Climate-wise, both cities share similar average temperatures (53.7°F vs 51.4°F). Federal Way receives more rainfall at 39.3" per year compared to 33.4" in Lake Stevens.