Last updated
Average Rent in Federal Way 98032 & Rent Trends
Rent prices and market trends across 1 apartment community in Federal Way 98032, Federal Way, WA. Updated daily.
Market Average
$1,400/mo
▼ 2.1% from last month
Lowest Available
$1,385/mo
cheapest unit on market
Communities
1
tracked daily
Units Listed
3
available now
Federal Way 98032 vs Federal Way, WA Average
Federal Way 98032 is cheaper the Federal Way, WA average by $185/mo (12%). The citywide average is $1,585/mo across all neighborhoods.
Is Rent Going Up or Down in Federal Way 98032?
As of May 2026, the average rent in Federal Way 98032 is $1,400 per month across 1 apartment community and 3 available units. Rents have decreased $31 (2.1%) over the past month.
The most affordable option is The BLVD starting at $1,385/mo. By unit type, a 1-bedroom averages $1,400/mo.
Prices range from $1,385 to $1,420 per month. The most common price point is the $1,200 range, where 2 units are currently listed.
Federal Way 98032 Rent Price History
Rent Price Distribution
Rent by Bedroom Type in Federal Way 98032
Rent Prices by Apartment in Federal Way 98032
| Property | Starting at | Average | Units | Rating |
|---|---|---|---|---|
| The BLVD | $1,385/mo | $1,400/mo | 3 | 3 |
Google Search Trends for Federal Way 98032 Apartments
Search interest for apartments in this area over the past 12 months.
Search Interest Over Time
Frequently Asked Questions About Rent in Federal Way 98032
What is the average rent in Federal Way 98032?
Is rent going up or down in Federal Way 98032?
What is the cheapest apartment in Federal Way 98032?
How much is a 1-bedroom apartment in Federal Way 98032?
How many apartments are available in Federal Way 98032?
What salary do I need to live comfortably in Federal Way 98032?
Built on the 25 to 30 percent rent-to-income guideline used by most landlords and credit-scoring models.
Minimum to afford average rent
$56,000/year
30 percent rule -- using our average rent of $1,400/mo.
Comfortable income
$67,000/year
25 percent rule -- leaves more room for savings, transport, and groceries.
To afford the cheapest tracked apartment ($1,385/mo), you need to earn at least $55,000/year.
Median household income in Federal Way 98032 is $82,144 , about 22% above the comfortable-living threshold.
Cost of living in Federal Way 98032
Overall prices in Federal Way 98032 runs above the national average by about 13% (BEA Regional Price Parity index 112.7, where 100 equals the U.S. average). The breakdown below estimates monthly costs for a single adult, using national consumer-spending baselines from the Bureau of Labor Statistics scaled by Federal Way 98032's regional price parities.
| Category | Monthly estimate |
|---|---|
| Rent (market average) | $1,400 |
| Utilities | $652 |
| Groceries | $584 |
| Transportation | $1,553 |
| Healthcare | $758 |
| Other goods and services | $1,212 |
| Estimated total | $6,159/mo |
Population
99,232
Median household income
$82,144
Census median rent
$1,738/mo
Rent as % of income
33.7%
Median age
37.6
Mean commute
32 min
Methodology
Rent data
Sourced directly from each tracked apartment community and refreshed every 24 hours. Every listed unit price on this page is real and listed today.
Cost of living
Estimates combine national consumer-spending baselines from the U.S. Bureau of Labor Statistics (Consumer Expenditure Survey) with the U.S. Bureau of Economic Analysis Regional Price Parities (MARPP dataset). Both are peer-reviewed federal data releases published annually.
Salary to live comfortably
Applies the standard 25 to 30 percent rent-to-income rule on top of the listed rent. This is the same affordability guideline used by most landlords and credit-scoring models.
Demographic figures
Median household income, population, median age, commute time, Census median rent, and rent as percentage of income come from the U.S. Census Bureau's American Community Survey 5-year estimates, the most recent complete release.
Cost of living and demographic figures were last published in 2023.
Explore Federal Way 98032 Apartments
Browse all 1 communities with daily-updated pricing and availability.