Federal Way, WA 98063 Real Estate Market Analysis | dynamic.RE
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Market Snapshot
Housing Market
County Demographics
County Economy
Federal Way, WA — 98063
Median Listing Price
--
Population
--
Households
941,054
Median Days on Market
--
Active Listings
--
New Listings
--
Housing Market
Units & Occupancy
2024 Occupancy
1.0M
units
Occupied
941,054
93.8%
Vacant
62,230
6.2%
2024 Tenure
941K
occupied
Owner
521,805
55.4%
Renter
419,249
44.6%
Renter Share
44.6%
+1.5% YoY
Total Housing Units
1,003,284
+1.5% YoY
FY2026 Fair Market Rent — King County
HUD government estimate (40th percentile) — not actual market asking rent.
Studio
$2,074
/month
1 BR
$2,146
/month
2 BR
$2,501
/month
3 BR
$3,272
/month
4 BR
$3,847
/month
FMR Trends — King County
Source: HUD Fair Market Rents
County Demographics
Median Age
37.4
2024
Population
King County Population
2,340,211
+1.9% YoY
Households
Total Households
941,054
+1.4% YoY
Household Types
--
Not reported for this area (ACS).
Avg Household Size
2.39
0.0% YoY
Age
2024 Age Mix
2.3M
residents
Under 18
445,594
19.5%
Adults 18–64
1,520,678
66.5%
65 & Over
320,899
14.0%
Age Composition Over Time
2017–2024
Population growth (first year = 100)
Share of population (change in pp)
Under 18
Adults 18–64
65 & Over
Population Under 18
445,594
-0.3% YoY
Population 65 & Over
320,899
+3.1% YoY
Median Age
37.40
+0.3% YoY
Mobility & Veterans
2024 Residential Mobility
of residents
Same house
83.3%
Moved (within US)
15.3%
Other
1.4%
Veterans
4.5%
-4.3% YoY
County Economy
Income
Median Household Income
$125K
+2.1% YoY
Per-Capita Income
$74K
+4.3% YoY
Mean Household Income
$177K
+3.8% YoY
Poverty
Below Poverty Level
8.6%
+2.4% YoY
Transportation to Work
2024 Commute Mode
of workers
Drove alone
50.4%
Public transit
6.8%
Worked from home
29.2%
Other
13.6%
Worked From Home
29.2%
+11.5% YoY
Mean Commute
27.60
-1.8% YoY
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