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
$1,361 - $2,375
Total Monthly Price

Total Monthly Price

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$1,361 - $2,375
Total Monthly Price
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1 to 3 Bedroom Apartments Available Now

Avana Star Lake

2211 S STAR LAKE RdFederal Way, WA 98003
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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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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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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

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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Parkway Apartments
1 to 2 Bedroom Apartments

Parkway Apartments

2206 SW 334th PlFederal Way, WA 98023
  • Utilities Included
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Terra
Studio to 2 Bedroom Apartments

Terra

2111 SW 352nd StFederal Way, WA 98023
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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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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

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Federal Way, WA Local Guide

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Cheapest Neighborhoods for Apartments in Federal Way, WA

Pricing Updated: 04/22/2026

Current apartment rentals in the Federal Way, WA area range in price from $725 to $5,250 with an overall median price of $3,617. The three Federal Way neighborhoods with the lowest median rent pricing are West Campus at $1,495, Kitts Corner at $1,400, and Madrona at $1,050. 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
West Campus$2,600$1,4952
Kitts Corner$3,222$1,4006
Madrona$3,345$1,0505
Adelaide$3,445$1,8004
Alderbrook$3,445$1,05022
Enchanted Village$3,450$3,4501
Lakota$3,500$1,05019
Campus Highlands$3,599$2,7503
Mirror Lake$3,645$72520
Laurelwood$3,820$7256

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 $749. Meridian Court Senior Affordable Apartments in the Jovita neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $999. Here is today’s list of the most affordable Federal Way apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Villa Capri1 Bedroom1BR,1BA$749
Meridian Court Senior Affordable ApartmentsA031BR,1BA$999
THE BLVD1 Bed 1 Bath1BR,1BA$1,210
TerraStudioStudio,1BA$1,230
Bayview Apartment HomesStudioStudio,$1,295
La Madera ApartmentsStudio at 60% Utilities CoveredStudio,1BA$1,299
Crestview West ApartmentsStudio 1 Bath S2Studio,1BA$1,311
Avana Star LakeA11BR,1BA$1,361
Traditions at Federal Way Senior Living2 Bedroom, 1 Bathroom2BR,1BA$1,387
Mariposa1 Bed, 1 Bath B (50% Income Restricted)1BR,1BA$1,409

Best Value Apartments for Rent in Federal Way, WA

As of April 22, 2026 the best value apartment in the Federal Way area is the $1.50 price per square foot 3x3.5 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 28803 46th Pl S Model at 28803 46th Pl S, Unit 1 starting at $2,800 with a $1.65 price per square foot in the Woodmont 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 Garage3x3.53BR,3.5BA$1.50
28803 46th Pl S, Unit 128803 46th Pl S3BR,1BA$1.65
Providence Landing3 Bed 2 Bath3BR,2BA$1.79
Pacific Heights254 2X2 M2BR,2BA$1.77
Traditions at Federal Way Senior Living2 Bedroom, 1 Bathroom2BR,1BA$1.42
Mariposa2 Bed, 1.5 Bath A (60% Income Restricted)2BR,1.5BA$1.89
Uptown SquareArmstrong1BR,1BA$1.82
The Park at Fife2x1 Deluxe2BR,1BA$1.87
Villa Capri2 Bedroom2BR,1BA$1.86
THE BLVD1 Bed 1 Bath1BR,1BA$1.86

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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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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 the Cheapest Studio apartment in Federal Way?

Currently the most affordable Cheap Studio Apartment in Federal Way is at Terra listed at $1,230.

How much is rent for a Cheap One Bedroom Federal Way Apartment?

The lowest price for a Cheap One Bedroom Federal Way Apartment is $749 at Villa Capri.

What is the lowest price for a Cheap Two Bedroom Federal Way Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Federal Way is starting from $1,299 at Meridian Court Senior Affordable Apartments.

What is the most affordable Federal Way Three Bedroom Apartment?

The best deal on a cheap Federal Way Three Bedroom Apartment rental is at Avana West Hill and starts from $1,934.

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

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

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

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.