Cost of Living in Federal Way, WA

With a cost of living index of 133, Federal Way, WA is a notably expensive place to live. Living here is 33% more expensive than the national average and 14% above the Washington state average of 119. With a population of 99,232, Federal Way is a mid-sized community that balances access to services with a more manageable cost of living compared to larger metros.

Housing costs are the biggest factor in Federal Way's cost of living. The median monthly rent is $1,738 (32% above the US median of $1,319), and the median home value sits at $499,600 (64% above the national median of $304,900). At current prices, the median home costs roughly 6.1x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in Federal Way is $82,144, which is 9% higher than the national median of $75,149. Residents spend roughly 25% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Climate is another factor for anyone considering a move to Federal Way. The area sees an average annual temperature of 53.7°F, with summers averaging 66°F and winters around 43°F. Annual rainfall totals 39.3 inches spread over roughly 156 days.

Everyday prices in the Seattle-Tacoma-Bellevue, WA (Metropolitan Statistical Area) metro area tend to run above the national average. Out of 6 common grocery and utility items tracked by the Bureau of Labor Statistics, 5 are priced higher than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.