Federal Way / Des Moines, WA
April 2026
98003,98023,98198
Long-term Rental Rates
Apartment
| Unit Type | Price | 1 Mo Change | 1 Yr Change |
|---|---|---|---|
| 1-Bedroom | $1,557 – $1,721 | -0.79% | 0.93% |
| 2-Bedroom | $1,736 – $1,919 | -1.83% | -3.78% |
| 3-Bedroom | $2,258 – $2,496 | 2.49% | -1.84% |
| 4-Bedroom | $3,892 – $4,363 | -1.20% | -5.54% |
Condo/Townhome
| Unit Type | Price | 1 Mo Change | 1 Yr Change |
|---|---|---|---|
| 1-Bedroom | $1,644 – $1,728 | -2.33% | -2.44% |
| 2-Bedroom | $1,910 – $2,008 | -0.95% | -2.32% |
| 3-Bedroom | $2,622 – $2,784 | -0.21% | 0.11% |
| 4-Bedroom | $4,314 – $4,626 | -0.19% | 0.68% |
Single-Family
| Unit Type | Price | 1 Mo Change | 1 Yr Change |
|---|---|---|---|
| 1-Bedroom | $2,269 – $2,458 | 0.46% | -11.22% |
| 2-Bedroom | $2,494 – $2,729 | -7.30% | -13.57% |
| 3-Bedroom | $2,961 – $3,240 | 2.32% | 0.91% |
| 4-Bedroom | $3,337 – $3,688 | -0.48% | -2.72% |
In the Federal Way / Des Moines (98003, 98023, 98198) rental market, 2-bedroom single-family homes saw a sharp month-over-month decline of 7.3%, with median rent landing at $2,612. Year-over-year, this segment decreased by 13.6%, marking the steepest drop across all major property categories for April.
With a 2.5% monthly increase, 3-bedroom apartments in Federal Way / Des Moines (98003, 98023, 98198) reached $2,377 for median rent. This growth was the only positive showing among apartment types this period, as both 2BR and 4BR apartments registered negative month-over-month changes.
Examining larger units, Federal Way / Des Moines (98003, 98023, 98198) rental trends reveal 4-bedroom condos at $4,470—$343 above the equivalent apartment segment. Condos posted a 0.7% annual increase, while apartments declined 5.5% over the same period, underscoring superior annual price retention for condo units.