Welcome to our 98023 real estate data hub, tailored for investors in Federal Way, WA. We aim to provide valuable insights, empowering you to make well-informed decisions in this unique market.
Explore essential data such as home prices, rental rates, and appreciation trends specific to 98023 in Federal Way, WA. Discover Section 8 housing opportunities and challenges to maximize your investment potential in KING COUNTY.
Leverage our comprehensive, zip code-specific data to excel in Federal Way, WA real estate investing. Uncover the wealth of information available, and position yourself for success in the Federal Way property market.
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Location Overview
- Zip Code: 98023
- City: Federal Way
- State: WA
- Metro Area: Seattle-Tacoma-Bellevue, WA
- County Name: KING COUNTY
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Real Estate Market Snapshot
- Average Home Price (All Types): $580,746
- Average Home Price (Single Family Homes): $591,918
- Average Monthly Rental Price (All Types): $1,968
- Price-to-Rent Ratio: 25
- Zillow Projected % appreciation from 4/2023-4/2024: -0.4%
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Section 8 Housing Insights
- Average 2 Bedroom Section 8 Rental Rates: $2,200
- Average 3 Bedroom Section 8 Rental Rates: $2,950
- Price-to-Rent Ratio for 2 Bedroom Section 8 Properties: 22
- Price-to-Rent Ratio for 3 Bedroom Section 8 Properties: 16.41
- Number of Units Offered in Section 8 in the County: 11503
- Number of Occupied Units in Section 8 in the County: 11121
- Percentage of Section 8 Units Occupied in the County: 96.69999695%
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Historical & Recent Price Appreciation Rates
- Total % Appreciation since 1990 (Government Data): 345.26
- Total % Appreciation since 2000 (Government Data): 216.1
- YTD Appreciation (Backwards from 4/2023, Realtor Data): -0.85%
- 1-Year Appreciation (Backwards from 4/2023, Realtor Data): -2.25%
- 3-Year Appreciation (Backwards from 4/2023, Realtor Data): 24.39%
- 5-Year Appreciation (Backwards from 4/2023, Realtor Data): 39.22%
- 10-Year Appreciation (Backwards from 4/2023, Realtor Data): 121.3%
- 15-Year Appreciation (Backwards from 4/2023, Realtor Data): 45.57%
- 20-Year Appreciation (Backwards from 4/2023, Realtor Data): 126.82%
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Historical & Recent Rent Appreciation Rates
- YTD Rent Appreciation (Backwards from 4/2023, Realtor Data): -1.68%
- 1-Year Rent Appreciation (Backwards from 4/2023, Realtor Data): 1.83%
- 3-Year Rent Appreciation (Backwards from 4/2023, Realtor Data): 25.13%
- 5-Year Rent Appreciation (Backwards from 4/2023, Realtor Data): 41.37%