Federal Way / Des Moines, WA
August 2026
98003,98023,98198
Long-term Rental Rates
Apartment
| Unit Type | Price | 1 Mo Change | 1 Yr Change |
|---|---|---|---|
| 1-Bedroom | $1,497 – $1,655 | -3.19% | -5.35% |
| 2-Bedroom | $1,730 – $1,912 | -3.10% | -7.56% |
| 3-Bedroom | $2,250 – $2,487 | 0.15% | -3.70% |
| 4-Bedroom | $3,895 – $4,393 | 2.17% | -7.74% |
Condo/Townhome
| Unit Type | Price | 1 Mo Change | 1 Yr Change |
|---|---|---|---|
| 1-Bedroom | $1,638 – $1,747 | -2.72% | -4.33% |
| 2-Bedroom | $1,958 – $2,088 | 2.42% | -4.39% |
| 3-Bedroom | $2,443 – $2,631 | -1.57% | -4.12% |
| 4-Bedroom | $4,441 – $4,763 | 0.56% | -1.74% |
Single-Family
| Unit Type | Price | 1 Mo Change | 1 Yr Change |
|---|---|---|---|
| 1-Bedroom | $2,373 – $2,570 | 8.63% | -11.14% |
| 2-Bedroom | $2,409 – $2,636 | -7.31% | -20.86% |
| 3-Bedroom | $2,885 – $3,201 | -0.88% | -4.39% |
| 4-Bedroom | $3,297 – $3,658 | -1.69% | -4.07% |
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.