Cheap Apartments for Rent in Federal Way, WA from $700 (92 Rentals)

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Search the lowest-cost Apartments available for rent right now in Federal Way.

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Avana Star Lake
Rent Specials
$1,237 - $2,544
Total Monthly Price

Total Monthly Price

Base Rent
$1,237 - $2,544
Total Monthly Price
Varies
1 to 3 Bedroom Apartments Available Now

Avana Star Lake

2211 S STAR LAKE RdFederal Way, WA 98003
Family Friendly
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property at 31003 14th Ave S

$1,400

Total Monthly Price

Total Monthly Price

Base Rent
$1,400
Total Monthly Price
$1,400

1 Bedroom, 1 Bath Condo for Rent

Available Now

31003 14th Ave S, Unit F3

31003 14th Ave S
Federal WayWA98003

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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Villa Capri
1 to 3 Bedroom Apartments

Villa Capri

28621 25th Pl SFederal Way, WA 98003
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Westboro Apartments
1 to 3 Bedroom Apartments

Westboro Apartments

32930 1st Ave SFederal Way, WA 98023
  • Utilities Included
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Celebration Senior Living
1 to 2 Bedroom Apartments

Celebration Senior Living

1524 S 328th StFederal Way, WA 98003
Senior Living
  • Utilities Included
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Parkway Apartments
1 to 2 Bedroom Apartments

Parkway Apartments

2206 SW 334th PlFederal Way, WA 98023
  • Utilities Included

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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View at the Lake
1 to 2 Bedroom Apartments

View at the Lake

30602 Pacific Hwy SFederal Way, WA 98003
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Terra
Studio to 2 Bedroom Apartments

Terra

2111 SW 352nd StFederal Way, WA 98023
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The Commons
1 to 2 Bedroom Apartments

The Commons

190 S 334 StFederal Way, WA 98003
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Soundview
1 to 2 Bedroom Apartments

Soundview

28425 18th Ave SFederal Way, WA 98003
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Align Apartments
2 to 3 Bedroom Apartments

Align Apartments

35434-35434 25th Ave SWFederal Way, WA 98023
Corporate Housing

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Federal Way, WA Local Guide

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Written By:
Staff Writer
Local Guide Expert

Cheapest Neighborhoods for Apartments in Federal Way, WA

Pricing Updated: 06/06/2026

Current apartment rentals in the Federal Way, WA area range in price from $960 to $5,500 with an overall median price of $3,264. The three Federal Way neighborhoods with the lowest median rent pricing are Adelaide at $960, Mirror Lake at $960, and West Campus at $960. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Federal Way Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Adelaide$2,602$960152
Mirror Lake$2,602$960107
West Campus$2,602$96049
Laurelwood$2,627$1,067120
Marine Hills$2,627$960131
Redondo$2,627$1,067111
Steel Lake$2,627$1,06734
Campus Highlands$2,723$960214
Enchanted Village$2,723$1,525134
Kitts Corner$2,723$960117

Cheapest Available Federal Way Apartments for Rent

 

The cheapest available apartment rental in Federal Way, WA is a 1 Bed unit found at Villa Capri in the Woodmont neighborhood priced from $750. Meridian Court Senior Affordable Apartments in the Jovita neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,067. Here is today’s list of the most affordable Federal Way apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Villa Capri1 Bedroom1BR,1BA$750
Meridian Court Senior Affordable ApartmentsA031BR,1BA$1,067
Traditions at Federal Way Senior LivingStudio - SpruceStudio,1BA$1,075
Avana Star LakeA11BR,1BA$1,263
Lake Apartments2 BR/ 1 BA2BR,1BA$1,295
Crestview West ApartmentsStudio 1 Bath S2Studio,1BA$1,311
The BLVD1 Bedroom 60 Percent AMI1BR,1BA$1,325
TerraStudioStudio,1BA$1,361
The FairwaysA31BR,1BA$1,375
Sunset Three TwentyA1: 1 Bed 1 Bath1BR,1BA$1,380

Best Value Apartments for Rent in Federal Way, WA

As of June 06, 2026 the best value apartment in the Federal Way area is the $1.50 price per square foot 3x2.5 Model at Modern 3 bedroom Townhomes with Garage in the in the Jovita neighborhood starting from $2,800. The second greatest value Federal Way apartment is the 3 Bed 2 Bath Model at Providence Landing starting at $2,310 with a $1.79 price per square foot in the Jovita neighborhood. Here is today’s list of the best values for Federal Way apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Modern 3 bedroom Townhomes with Garage3x2.53BR,2.5BA$1.50
Providence Landing3 Bed 2 Bath3BR,2BA$1.79
Lake Apartments2 BR/ 1 BA2BR,1BA$1.08
Kitts CornerBarcelona2BR,2BA$1.84
The Lodge at Peasley Canyon2 Bedroom 2 Bath Plan Fir A2BR,2BA$2.01
Riverstone ApartmentsB2u - 2x2 upper floor2BR,2BA$1.89
Mariposa2 Bed, 1 Bath A (60% Income Restricted)2BR,1BA$1.93
Uptown SquareArmstrong1BR,1BA$1.85
Edgewood Heights1 Bedroom1BR,1BA$1.96
Maplewood2B 1B2BR,1BA$2.01

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Federal Way Overview

Federal Way, WA is close to Seattle yet maintains its own unique character and charm. This dynamic town is a great place for people who love the great outdoors. You can find apartments in Federal Way that are near parks, botanical gardens, and major highways into the mountains. Meanwhile, if you prefer shopping and culture, downtown areas have a great community that you can become part of.

Why live in Federal Way, WA?

Federal Way is a town on the move. In some ways this is literal, thanks to its parks botanical garden, sports fields, jogging friendly trails, and more. However, this town also gains a dynamic energy from being located in close proximity to Tacoma and Seattle. You're a quick drive from all the attractions and perks of these big cities, including art galleries, museums, and shopping plazas. However, you're also able to come home and relax in an apartment in one of Federal Way's peaceful neighborhoods. This town is also a great 'launching point' to explore the Rocky Mountains, Mt. Ranier National Park, and more.

Federal Way, WA
Population: 97,044

Ranked #324

in US Census Population by City

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Best Local Schools in
Federal Way, WA

School data provided by Great Schools

Remember the 3 Rules of Real Estate:
Location, Location, Location!

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Frequently Asked Questions about Cheap Federal Way Apartments

What is a cheap apartment in Federal Way?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Federal Way is under $1,380.

What is the price of a cheap apartment in Federal Way?

The cheapest apartment in Federal Way is Villa Capri which is listed at $750, while the average apartment in Federal Way costs $3,264.

What types of apartments are the cheapest in Federal Way?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 453 regular apartments in Federal Way that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Federal Way?

Cheap apartments in Federal Way have an average cost of $1,103 which is $2,161 cheaper than the average rent for all rentals in Federal Way.

Expert Rental Resources

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

Articles, How-To's, and Tips

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

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Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.

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A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.