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Cheap Apartments for Rent in Federal Way, WA from $500 (16 Rentals)
Search the lowest-cost Apartments available for rent right now in Federal Way.
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$905 - $1,395Studio to 2 Bedroom Apartments Available Now
Cove East
33030 1st Ave SFederal Way, WA 98003
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Rent Specials
$1,199 - $1,6851 to 2 Bedroom Apartments Available Now
Meridian Court Senior Affordable Apartments
31420 23rd Ave SFederal Way, WA 98003
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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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Rent Specials
$1,299 - $1,860Studio to 2 Bedroom Apartments Available Now
THE BLVD
2136 S 272nd StKent, WA 98032
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$1,300 - $1,7001 to 2 Bedroom Apartments Contact Us For Availability
Mark Twain Apartments
2408-2419 98th Ave Ct EEdgewood, WA 98371
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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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Showing Results 1-16, Page 1 of 1
Federal Way, WA Local Guide
Dedication of Downtown Flag and Veterans Way by Darel Roa Photography is licensed under CC BY-SA 3.0
How much does it cost to rent an apartment in Federal Way?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Cheap Federal Way Studio Apartments | $1,504 | $905 | $1,899 |
| Cheap Federal Way 1 Bedroom Apartments | $1,653 | $550 | $2,154 |
| Cheap Federal Way 2 Bedroom Apartments | $2,037 | $1,285 | $4,965 |
| Cheap Federal Way 3 Bedroom Apartments | $2,308 | $1,800 | $2,884 |
| Cheap Federal Way 4 Bedroom Apartments | $2,276 | $2,096 | $2,452 |
Browse Top Apartments in Federal Way
See all Apartments in Federal WayExplore Federal Way
Federal Way, WA Local Guide
Written By:
Staff Writer Local Guide Expert
- Federal Way Neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
Cheapest Neighborhoods for Apartments in Federal Way, WA
Pricing Updated: 12/07/2025Current apartment rentals in the Federal Way, WA area range in price from $550 to $4,965 with an overall median price of $2,559. The three Federal Way neighborhoods with the lowest median rent pricing are Marine Hills at $550, Twin Lakes at $1,350, and Redondo at $550. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Federal Way Apartments for rent:
| Neighborhood | Median Price | Min Price | Available Units |
|---|---|---|---|
| Marine Hills | $1,862 | $550 | 39 |
| Twin Lakes | $2,293 | $1,350 | 105 |
| Redondo | $2,452 | $550 | 112 |
| Enchanted Village | $2,543 | $1,333 | 103 |
| Adelaide | $2,668 | $550 | 171 |
| Alderbrook | $2,668 | $550 | 163 |
| Campus Highlands | $2,668 | $905 | 211 |
| Kitts Corner | $2,668 | $905 | 140 |
| Lakota | $2,668 | $550 | 118 |
| Laurelwood | $2,668 | $550 | 126 |
Cheapest Available Federal Way Apartments for Rent
The cheapest available apartment rental in Federal Way, WA is a 1 Bed unit found at Meridian Court Senior Affordable Apartments in the Jovita neighborhood priced from $1,199. Cove East in the West Campus neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $1,285. Here is today’s list of the most affordable Federal Way apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Meridian Court Senior Affordable Apartments | A06 | 1BR,1BA | $1,199 |
| Cove East | Oak | 2BR,1BA | $1,285 |
| Terra | 1x1 | 1BR,1BA | $1,299 |
| THE BLVD | Studio | Studio,1BA | $1,299 |
| Crestview West Apartments | Studio 1 Bath S2 | Studio,1BA | $1,311 |
Best Value Apartments for Rent in Federal Way, WA
As of December 07, 2025 the best value apartment in the Federal Way area is the $1.74 price per square foot Joplin Model at Uptown Square in the in the West Campus neighborhood starting from $2,400. The second greatest value Federal Way apartment is the London Model at Kitts Corner starting at $2,180 with a $1.59 price per square foot in the West Campus neighborhood. Here is today’s list of the best values for Federal Way apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Uptown Square | Joplin | 4BR,2BA | $1.74 |
| Kitts Corner | London | 4BR,2BA | $1.59 |
| Enchanted Woods | 3x2 Middle Floor Premium | 3BR,2BA | $1.62 |
| Watermark | Bonney | 2BR,2BA | $1.83 |
| Mariposa | 2 Bed, 1.5 Bath (60% Income Restricted) | 2BR,1.5BA | $1.96 |
| Edgewood Heights | 1 Bedroom | 1BR,1BA | $2.02 |
| Glen Park At West Campus | A2 | 1BR,1BA | $1.88 |
| Cove East | Oak | 2BR,1BA | $1.61 |
| Pacific Heights | 254 1X1 T | 1BR,1BA | $1.86 |
| Terra | 1x1 | 1BR,1BA | $1.86 |
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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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.
Best Local Schools in Federal Way, WA
Federal Way Senior High School
Federal Way School District
Public School - Grades 9-12 (1640)
3 out of 10
School data provided by Great Schools
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Federal Way, WA Rentals by Map
See the most popular apartments and homes in Federal Way, WA
Getting Around Federal Way, WA
Walk Score®
56 / 100
Somewhat Walkable
Some errands can be accomplished on foot
Bike Score®
45 / 100
Somewhat Bikeable
Minimal bike infrastructure
Transit Score®
37 / 100
Some Transit
A few nearby public transportation options
What Are Walk Score®, Transit Score®, and Bike Score® Ratings?
- Walk Score® measures the walkability of any address.
- Transit Score® measures access to public transit.
- Bike Score® measures the bikeability of any address.
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 $1,395.
What is the price of a cheap apartment in Federal Way?
The cheapest apartment in Federal Way is Meridian Court Senior Affordable Apartments which is listed at $1,199, while the average apartment in Federal Way costs $2,559.
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 638 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 $1,203 which is $1,356 cheaper than the average rent for all rentals in Federal Way.
Expert Rental Resources
Helpful Apartment Articles, How-To's and Tips
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.
Renting with Roommates: Realistic Expectations for Shared Lease
Written by: Christine Leonard, Esq.
Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.
Apartment Common Area Rules: What Renters Need to Know
Written by: Christine Leonard, Esq.
Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.
How to Negotiate Your Apartment Lease and Save Money
Written by: Christine Leonard, Esq.
Everything is a negotiation in real estate!
The Rental Move-In Inspection Checklist: A Guide for Renters
Written by: Trey Huguley
The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.