Federal Way / Des Moines, WA
June 2026
98003,98023,98198
Long-term Rental Rates
Apartment
| Unit Type | Price | 1 Mo Change | 1 Yr Change |
|---|---|---|---|
| 1-Bedroom | $1,539 – $1,701 | -0.42% | -1.81% |
| 2-Bedroom | $1,780 – $1,967 | -1.17% | -2.26% |
| 3-Bedroom | $2,305 – $2,547 | -0.83% | -3.58% |
| 4-Bedroom | $3,824 – $4,313 | 3.48% | -8.38% |
Condo/Townhome
| Unit Type | Price | 1 Mo Change | 1 Yr Change |
|---|---|---|---|
| 1-Bedroom | $1,699 – $1,786 | -2.05% | -2.27% |
| 2-Bedroom | $1,836 – $1,930 | 0.13% | -2.91% |
| 3-Bedroom | $2,595 – $2,794 | -2.39% | -4.04% |
| 4-Bedroom | $4,318 – $4,632 | 1.09% | -2.00% |
Single-Family
| Unit Type | Price | 1 Mo Change | 1 Yr Change |
|---|---|---|---|
| 1-Bedroom | $2,085 – $2,259 | -1.56% | -20.01% |
| 2-Bedroom | $2,502 – $2,738 | 8.79% | -15.84% |
| 3-Bedroom | $2,847 – $3,084 | -4.86% | -8.67% |
| 4-Bedroom | $3,597 – $3,913 | -3.98% | -4.93% |
In the Federal Way / Des Moines (98003, 98023, 98198) rental market, 2-bedroom apartments saw median rent reach $1,874 after a monthly increase of 2.83%. However, this marks a year-over-year decline of 1.94%, signaling some short-term gains that have yet to offset annual softness for this property type.
Median rent for 1-bedroom condos in Federal Way / Des Moines (98003, 98023, 98198) reached $1,731, outpacing 1-bedroom apartments by $125. Condos posted a 3.28% rise and 1.12% annual growth, while apartment rents fell 0.96% year-over-year to $1,606, spotlighting stronger condo performance for this segment.
Annual shifts in Federal Way / Des Moines (98003, 98023, 98198) rental trends show 4-bedroom single-family homes had a median rent of $3,528, down 0.95% from last year. This annual dip is minor compared to the larger 9.64% drop posted by 4-bedroom apartments in the same period.