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from $9991 to 2 Bedroom Apartments Available Now
Meridian Court Senior Affordable Apartments
31420 23rd Ave SFederal Way, WA 98003
Cheap Apartments for Rent in the Steel Lake Neighborhood of Federal Way, WA from $900 (3 Rentals)
Search the lowest-cost Apartments available for rent right now in the Steel Lake area of Federal Way.
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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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.
29326 32nd Pl S
AuburnWA98001
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Steel Lake, 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 Steel Lake?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Steel Lake Studio Apartments | $1,608 | $1,608 | $1,608 |
| Steel Lake 1 Bedroom Apartments | $1,462 | $999 | $1,745 |
| Steel Lake 2 Bedroom Apartments | $1,833 | $1,299 | $2,195 |
| Steel Lake 3 Bedroom Apartments | $2,327 | $2,200 | $3,045 |
| Steel Lake 4 Bedroom Apartments | $2,595 | $2,400 | $3,975 |
Browse Apartments in this Neighborhood
There are currently 3 rentals with your search options within a 1 mile radius of the Steel Lake Neighborhood of Federal Way, WA.
See all Apartments in Federal WayExplore Federal Way
Steel Lake, Federal Way, WA Local Guide
- Nearby Federal Way neighborhoods
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Best Value Apartments for Rent in Steel Lake, WA
As of June 23, 2025 the best value apartment in the Steel Lake area is the $2.07 price per square foot Two Bed Model at Redondo Ridge in the in the Redondo neighborhood starting from $2,095. The second greatest value Steel Lake apartment is the 30831 19th Pl S Model at 30831 19th Pl S, Unit Federal Way Duplex starting at $1,800 with a $2.00 price per square foot in the Redondo neighborhood. Here is today’s list of the best values for Steel Lake apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Redondo Ridge | Two Bed | 2BR,1.5BA | $2.07 |
| 30831 19th Pl S, Unit Federal Way Duplex | 30831 19th Pl S | 2BR,1BA | $2.00 |
| Portofino Apartments | 2x2s | 2BR,2BA | $2.66 |
| Uptown Square | Bolden | 1BR,1BA | $1.95 |
| Watermark | Kitsap | 1BR,1BA | $2.20 |
| View at the Lake | 1x1 | 1BR,1BA | $2.06 |
| Homestead Apartments | 1x1 | 1BR,1BA | $2.24 |
| Brookhaven Apartments | 1 Bedroom 1 Bath | 1BR,1BA | $2.53 |
| Meridian Court Senior Affordable Apartments | A03 | 1BR,1BA | $2.42 |
| Willamette Court Apartments | 1 Bed, 1 bath | 1BR,1BA | $2.22 |
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Pet Friendly LifestyleSteel Lake, Federal Way, WA
Ranked #14
Among neighborhoods in Federal Way, WA for Apartment listings with Pet Friendly Amenities
Pet Friendliness Lifestyle Score
3.5Pet Friendly
Best Local Schools in Steel Lake, 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
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 the price of a cheap apartment in Steel Lake?
The cheapest apartment in Steel Lake is Willamette Court Apartments which is listed at $1,125, while the average apartment in Steel Lake costs $2,452.
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 35 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 $1,467 which is $985 cheaper than the average rent for all rentals in Steel Lake.
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.
Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
Written by: Cheryl Bowman
A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.
The Art of the Rental Viewing: What to look for during a property tour
Written by: Marie Brown
You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.
Know Your Budget: Calculating What You Can Realistically Afford When Renting
Written by: Lauren Harrington
Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.
The Freedom of Short-Term Leases: Exploring the Advantages for Renters
Written by: Bobbi Jackson
If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.