Cheap Apartments for Rent in the Steel Lake Neighborhood of Federal Way, WA from $900 (26 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

Search the lowest-cost Apartments available for rent right now in the Steel Lake area of Federal Way.

close
View Me
Avana Star Lake
$1,222 - $2,366
Total Monthly Price

Total Monthly Price

Base Rent
$1,187 - $2,331
Required Monthly Fees
$35
Total Monthly Price
$1,222 - $2,366
1 to 3 Bedroom Apartments Available Now

Avana Star Lake

2211 S STAR LAKE RdFederal Way, WA 98003
Eco-Friendly
  • Verified
  • Customer Reviewed
  • 3D Tour

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.

Read Article
close
View Me
Pacific Heights
Rent Specials
$1,398 - $1,783
Total Monthly Price

Total Monthly Price

Base Rent
$1,398 - $1,783
Total Monthly Price
$1,398 - $1,783
1 to 2 Bedroom Apartments Available Now

Pacific Heights

33311 18th Ln SFederal Way, WA 98003
Cost Per Sq.Ft.
  • Verified
  • Customer Reviewed

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.

Read Article
close
View Me
Sunset Three Twenty
Rent Specials
$1,507 - $2,229
Total Monthly Price

Total Monthly Price

Base Rent
$1,286 - $2,008
Required Monthly Fees
$221
Total Monthly Price
$1,507 - $2,229
1 to 3 Bedroom Apartments Available Now

Sunset Three Twenty

1901 SW 320th StFederal Way, WA 98023
Corporate Housing
  • Verified
  • Customer Reviewed
  • 3D Tour

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.

Read Article
close
View Me
View at the Lake
1 to 2 Bedroom Apartments

View at the Lake

30602 Pacific Hwy 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.

Read Article
Showing Results 1-26, Page 1 of 1

Steel Lake, Federal Way, WA Local Guide

Cheapest Available Steel Lake Apartments for Rent

 

The cheapest available apartment rental in the Steel Lake area of Federal Way, WA is a 1 Bed unit found at Meridian Court Senior Affordable Apartments priced from $1,250. La Madera Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $1,299. Here are the most affordable Steel Lake apartments for rent in Federal Way, WA:

Apartment ListingModel NameBed/BathPriced From
Meridian Court Senior Affordable ApartmentsA031BR,1BA$1,250
La Madera ApartmentsStudio at 60% Utilities CoveredStudio,1BA$1,299
THE BLVDStudioStudio,1BA$1,299
Crestview West ApartmentsStudio 1 Bath S2Studio,1BA$1,311
Arbor Woods Apartments0BR/1.0BAStudio,1BA$1,325
Avana Star LakeA11BR,1BA$1,383
Traditions at Federal Way Senior Living2 Bedroom, 1 Bathroom2BR,1BA$1,399
The Village at NewportThe Collage1BR,1BA$1,400
Mariposa1 Bed, 1 Bath (50% Income Restricted)1BR,1BA$1,409
Panther Lake ApartmentsOne Bedroom Flat1BR,1BA$1,495

Best Value Apartments for Rent in Steel Lake, WA

As of January 29, 2026 the best value apartment in the Steel Lake area is the $1.92 price per square foot 2525 S 288th St Model at 2525 S 288th St, Unit 3 in the in the Woodmont neighborhood starting from $2,695. The second greatest value Steel Lake apartment is the C1 Model at Glen Park At West Campus starting at $2,532 with a $1.96 price per square foot in the West Campus neighborhood. Here is today’s list of the best values for Steel Lake apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
2525 S 288th St, Unit 32525 S 288th St3BR,2.5BA$1.92
Glen Park At West CampusC13BR,2.5BA$1.96
Kitts CornerDublin3BR,2BA$1.71
Pacific Heights254 2X2 M2BR,2BA$1.62
WatermarkBonney2BR,2BA$1.83
Mariposa2 Bed, 1.5 Bath (60% Income Restricted)2BR,1.5BA$1.96
Uptown SquareArmstrong1BR,1BA$1.76
ReNew Dash PointB12BR,1BA$2.06
Tree PointeOne Bedroom1BR,1BA$2.07
Campus View1L1BR,1BA$2.07

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.

Read Article
Decorative image

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.

Read Article
Decorative image

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.

Read Article
Decorative image

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.

decorative image of people with a giant lease agreement

Best Local Schools in
Steel Lake, Federal Way, WA

School data provided by Great Schools

Lifestyle Ratings

This website is happy to bring you our detailed rental search system called 'Lifestyle ratings', composed of neighborhoods, metropolitan areas, and rental properties across Washington, including Federal Way. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including filtering automatically for easy access to the parks, luxury housing options, family-friendly amenities, raising pets, transit options, and how walkable or bikeable each community and area is. These search options are in the site filters at the top of this page.

Frequently Asked Questions about Cheap Steel Lake Apartments

What is a cheap apartment in Steel Lake?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Steel Lake is under $1,495.

What is the price of a cheap apartment in Steel Lake?

The cheapest apartment in Steel Lake is Meridian Court Senior Affordable Apartments which is listed at $1,250, while the average apartment in Steel Lake costs $2,669.

What types of apartments are the cheapest in Steel Lake?

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 63 regular apartments in Steel Lake 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 Steel Lake?

Cheap apartments in Steel Lake have an average cost of $1,267 which is $1,402 cheaper than the average rent for all rentals in Steel Lake.

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

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.

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

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.

decorative image for Renting with Roommates: Realistic Expectations for Shared Lease article

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.

decorative image for Apartment Common Area Rules: What Renters Need to Know article

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.