Federal Way, WA vs Lakewood, WA

Lakewood is moderately more affordable than Federal Way, with a 12.6% lower cost of living index. Federal Way scores 133 compared to 118 for Lakewood, where the US average is 100. This difference means residents of Federal Way 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 $1,460/month in Lakewood — a 19% difference. Home values follow the same pattern: Lakewood is more affordable at $420,500 median vs $499,600.

Median household income in Federal Way is $82,144 compared to $70,524 in Lakewood (+16.5%). While Federal Way 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 24.8% in Lakewood.

Climate-wise, both cities share similar average temperatures (53.7°F vs 51.9°F). Lakewood receives more rainfall at 42" per year compared to 39.3" in Federal Way.