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Area data

Federal way, WA — ZIP 98023

Population: 50,448 (Census ACS)

The median home value in ZIP 98023 (Federal way, WA) is $614,458 — down 1.4% over the past year. Homes sell for a median $400,000 after a median 20 days on market. Typical rent runs $2,025/month. 14 schools serve the area (NCES). FEMA's National Risk Index rates the county's overall natural-hazard risk Very High, with avalanche, earthquake, inlandflooding the top-rated hazards. Cost of living is 7.5% above the US average (BEA, metro/state-level).

Backed by 25+ public sourcesFEMA · U.S. Census · NOAA · Dept. of Education · EPA · and more

$614,458

Median home value

-1.4%

1-year change

20

Median days on market

Very High

Hazard risk (county)

Home values & appreciation

Median home value
$614,458
1-year appreciation
-1.4%
3-year appreciation
+2.4%
5-year appreciation
+11.0%
10-year appreciation
+93.1%
All-time peak (2025-02)
$640,858
House Price Index (state)
588.1 (+2.2% YoY)

Sources: home value index (ZIP-level) · FHFA House Price Index (state-level)

Market activity

Median sale price
$400,000
Median list price
$445,000
Median price per sqft
$281
1-year sale-price change
-3.0%
Median days on market
20 days
Homes sold (recent period)
7
For-sale inventory
162
Sale-to-list ratio
99.4%
Active listings
2
1-year forecast
-0.7%
Days to pending
29 days
New listings (monthly)
64

Source: recent area sales and market data (ZIP-level)

Rents

Typical rent
$2,025/mo
1-year rent change
+2.5%
Studio fair-market rent
$1,920/mo
1BR fair-market rent
$1,990/mo
2BR fair-market rent
$2,320/mo
3BR fair-market rent
$3,040/mo
4BR fair-market rent
$3,570/mo

Sources: market rent index (ZIP-level) · HUD Fair Market Rents (metro/county-level, 40th-percentile regulatory reference)

Affordability

Cost of living index (Above Average)
107.5 (100 = US avg)
Electricity rate (state-level)
13.1¢/kWh
Natural gas rate (state-level)
$17.60/MCF
30-year mortgage rate (national)
6.66%
15-year mortgage rate (national)
6.00%

Sources: BEA Regional Price Parities (metro/state-level) · EIA energy rates (state-level) · Freddie Mac PMMS (national)

Schools

Total schools
14
Elementary schools
9
Middle schools
1
High schools
3
Schools include
Adelaide Elementary School, Brigadoon Elementary School, Decatur High School, Lake Grove Elementary School, Lakota Middle School

Source: NCES school directory, 2022-23 (school-address-based)

Natural hazards & flood risk

Overall hazard risk (county)
Very High
Top hazards (county)
avalanche, earthquake, inlandFlooding, heatWave, iceStorm
Notable hazard ratings (county)
avalanche: Very High · coastalFlooding: Relatively Moderate · coldWave: Relatively Low · earthquake: Very High · heatWave: Relatively High · iceStorm: Relatively High
FEMA flood zone
X
Flood risk level
Minimal
Wildfire risk to homes (county)
Higher than 65% of US counties
Buildings in wildfire direct-exposure zone
14.8%
Radon potential (county)
Low radon potential — EPA Zone 3 of 3
EPA Superfund (NPL) sites within 5 mi
1
Nearest Superfund site
Commencement Bay, Near Shore/Tide Flats (4 mi)
EPA recommends radon testing for every home regardless of zone.

Sources: FEMA National Risk Index (county-level) · FEMA flood data (ZIP-level) · USDA Forest Service Wildfire Risk to Communities (county-level) · EPA radon zones + Superfund NPL

Climate (30-year normals)

Annual precipitation
41.2 in
USDA plant hardiness zone
8b (extreme annual low 15 to 20°F)

Sources: NOAA Climate Normals (30-year, nearest-station) · USDA Plant Hardiness Zone Map (2023)

Air quality

Air quality rating
Good
Median AQI (annual)
46
Days with Good air quality
214
Days with Moderate air quality
145
Days with Unhealthy air quality
1
Highest AQI recorded (year)
165

Source: EPA air quality data (nearest monitoring station, annual)

Walkability & transit

Walkability index
12.2 / 20
Transit service frequency
308
Jobs reachable by car (30 min)
48,390
Jobs reachable by transit (45 min)
46,385

Source: EPA Smart Location Database (metropolitan block groups)

Amenities

National parks within ~60 mi
3
Nearest national park
Wing Luke Museum Affiliated Area (20 mi)
National parks include
Wing Luke Museum Affiliated Area, Klondike Gold Rush - Seattle Unit National Historical Park, Mount Rainier National Park
Airports within 30 mi
37
Nearest airport
Auburn Municipal Airport (7 mi)
Nearest major airport
Seattle–Tacoma International Airport (SEA) (10 mi)
Hospitals nearby (~15 mi)
8
Hospitals include
HIGHLINE MEDICAL CENTER, MULTICARE AUBURN MEDICAL CENTER, ST CLARE HOSPITAL
Avg hospital rating (CMS)
3.0 / 5
Best hospital rating nearby (CMS)
5.0 / 5
Solar radiation rating
Poor (3.5 kWh/m²/day)

Sources: National Park Service · FAA airport data · CMS hospital data · DOE/NREL (proximity-based)

Migration

Net migration (county)
-5,092 tax filers

Source: IRS county-to-county migration data (county-level, ~12-month lag)

Housing stock

Median year housing built
1,984
Housing built before 1970
18.6%
Housing built 2000 or later
16.8%
Median annual property tax
$5,060
Mean commute to work
27 min
Households with broadband internet
83.5%

Source: Census ACS 5-year estimates (ZIP-level)

Employment & development

Total county employment
1,282,761
Average weekly wage
$2,389
Top industries (by employment)
Health Care, Professional Services, Information
Annual residential building permits (county)
2,030

Sources: BLS QCEW (county-level) · Census Building Permits (county-level)

How it compares

ZIP 98023State medianUS median
Median home value$614,458$504,993$289,727
Median sale price$400,000$510,000$325,000
Median days on market20 days29 days51 days
Typical rent$2,025/mo$2,041/mo$1,808/mo
Median annual property tax$5,060$3,381$2,006

State and US medians are computed across all US ZIP codes with sufficient public-data coverage, from the same sources as the figures above.

Area data compiled from public government, academic, and industry research feeds. Data sources →

Common questions

What is the median home value in ZIP 98023?
$614,458.
What is the median sale price in ZIP 98023?
$400,000.
How long do homes take to sell in ZIP 98023?
Median days on market: 20 days.
What is typical rent in ZIP 98023?
Typical rent: $2,025/month.
What is the natural-hazard risk in ZIP 98023?
Overall risk: Very High (FEMA NRI, county-level). Top hazards: avalanche, earthquake, inlandFlooding, heatWave, iceStorm.
Is ZIP 98023 in a flood zone?
Minimal (FEMA NFIP). FEMA flood zone X.
What is the wildfire risk in ZIP 98023?
Risk to homes is higher than 65% of US counties (USDA Forest Service Wildfire Risk to Communities, county-level).
What is the radon potential in ZIP 98023?
Low radon potential — EPA Zone 3 of 3, county-level. EPA recommends testing every home regardless of zone.
Are there Superfund sites near ZIP 98023?
1 current or proposed National Priorities List site within 5 miles (EPA). Nearest site: Commencement Bay, Near Shore/Tide Flats, 4 mi.
How many schools serve ZIP 98023?
14 schools (9 elementary, 1 middle, 3 high) (NCES, 2022-23).
Is ZIP 98023 walkable?
Walkability index: 12.2/20 (EPA Smart Location Database).
What is the air quality in ZIP 98023?
Good. Median AQI: 46. (EPA AQI).
What is the cost of living in ZIP 98023?
Regional Price Parity: 107.5 (100 = US average) (Above Average) (BEA RPP, metro/state-level).

Nearby ZIP codes

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Data last updated

Most recent source refresh: Sep 2026. See all data sources →

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