Population
50,000 - 100,000
~50,778 residents
Median Income
$98,057
Household median
Home Value
$404,900
Median price
Area Type
Urban
10.3 sq mi
Location
Detailed Information
Demographics
- Population Range:
- 50,000 - 100,000
- Median Income:
- $98,057
- Classification:
- Urban
Housing Market
- Median Value:
- $404,900
- Price Range:
- $325,000 - $475,000
- Land Area:
- 10.3 sq mi
Data Quality: 100%
ExcellentData from US Census Bureau 2023 • US Census Bureau
Zillow Home Value Index
Real-time market data powered by Zillow • Updated October 2025
Metro Area: Seattle-Tacoma-Bellevue, WA
Typical Home Value in 98023
Price Appreciation
Historical Price Trend
Historical home values show market trends over time. Values are smoothed and seasonally adjusted.
Investment Insight
Declining values: Home values decreased by -0.95% over the past year, which may present buying opportunities.
💡 Note: Past performance doesn't guarantee future results. Consider local market factors, job growth, and development plans when evaluating real estate investments.
Zillow Home Value Index (ZHVI) data provided by Zillow Group. ZHVI represents the typical home value for homes in the 35th to 65th percentile range. Data is updated monthly and reflects market trends as of October 31, 2025.
Median Income
$98,057
vs state avg
Median Home Value
$404,900
vs state avg
Population
50,778
Urban
Quality of Life
81/100
Excellent
What's It Like to Live in Federal Way?
Key insights about ZIP 98023 at a glance
Population
50,778
Urban community
Median Income
$98k
Household earnings
Median Home Value
$405k
Housing market
Affordability
4.1
Price-to-income ratio
Your Day in Federal Way
Start your day with quality education options in Federal Way
Explore local shops and restaurants in Federal Way
Unwind in green spaces and community areas in Federal Way
Quick Compare
See how this stacks up
Explore Federal Way, WA
Visual guide to life in this area
Economy & Employment
Job market and economic indicators
Median Household Income
$98,057
Median Home Value
$404,900
Home-to-Income Ratio
4.1x
Education & Schools
Educational opportunities and demographics in 98023
Local Schools
Federal Way offers diverse educational opportunities for all ages
85%
Estimated graduates
11171
School-age residents
School Quality
Above Average
Based on area demographics
Healthcare & Wellness
Medical facilities and health resources in your area
Quality Healthcare Access
Federal Way area has multiple medical facilities serving the community
5-10
Healthcare facilities nearby
< 5mi
Average distance to hospital
Parks & Recreation
Outdoor spaces and recreational activities
Community Parks
Multiple green spaces and recreational facilities for families
Parks
3-5 nearby
Sports
Fields & courts
Trails
Walking paths
Events
Community gatherings
Shopping & Dining
Retail, restaurants, and local businesses
Local Shopping
Federal Way offers diverse shopping and dining experiences
Restaurants
20+ dining options
Retail Stores
Major & local shops
Cafes & More
Local favorites
Pros & Cons of Living in ZIP 98023
Advantages
- Urban location with easy access to services and entertainment
- Large, established community with diverse services
Considerations
- Limited demographic data available for detailed analysis
Living in Federal Way, WA 98023
Federal Way offers a unique lifestyle in the heart of WA. This urban community provides residents with abundant amenities and services.
Suburban Lifestyle
Mix of residential calm and accessibility to urban amenities.
Family-Oriented
Good balance of schools, parks, and community services.
Who Lives Here
Middle to upper-middle class families, working professionals, and dual-income households.
Lifestyle & Activities
Suburban residents seeking balance between community feel and access to urban conveniences.
Household Composition
Mix of singles, young couples, and small families in apartments and condos.
What's Life Like Here? (AI Insights)
Data & Demographics
Demographic Distribution
Age Distribution
Education Levels
ZIP 98023 by the Numbers
Interactive data visualizations for Urban living
Total Population
0
Median Income
$0
Home Value
$0
Quality Score
0/100
Comparative Metrics
50.8% of max (100,000)
65.4% of max (150,000)
50.6% of max (800,000)
17.42
out of 100
Affordability
100
out of 100
Community Size
65.37
out of 100
Economic Strength
Transportation & Commute
Average commute time is approximately 25 minutes, typical for urban areas.
Distance to Major Cities
Regional Hub
15-40 miles
25-60 min
drive time
Note: Commute times are estimates and may vary based on traffic conditions, time of day, and specific locations.
Weather & Climate
Climate Type
Oceanic/temperate
Seasonal Pattern
Mild, wet winters and warm, dry summers
Weather Highlights
- Green, lush landscapes
- Moderate temperatures
- Relatively low humidity
Discover Federal Way Amenities
Everything you need, right in your neighborhood
Schools
12+ locations
Healthcare
8+ locations
Shopping
50+ locations
Parks
15+ locations
How Does Federal Way Stack Up?
See how ZIP 98023 compares to state and national averages
Income Comparison
Home Value Comparison
Ready to Explore More?
Compare Federal Way with other areas or find your perfect ZIP code match
Living Here: Pros & Cons (AI Analysis)
Who Lives Here?
Community Profile
ZIP code 98023 in Federal Way, WA (King) is a major urban center with approximately 50,778 residents. The area is classified as urban, offering a vibrant city lifestyle.
Income Demographics
The median household income is $98,057, which is above national average. This suggests a community with strong economic stability and higher purchasing power.
Fun Fact: Urban ZIP codes like this typically attract young professionals and families seeking proximity to jobs and amenities.
Housing & Rent
Median Home Value
$404,900
Above Average Market
Est. Monthly Rent
$1,620
Typical 2-3BR
Market Overview
The housing market in ZIP 98023 is competitive market with strong appreciation. With a median home value of $404,900, this area represents a premium investment in a sought-after location.
Rent vs Buy
Renting in this ZIP code typically costs around $1,620/month for a 2-3 bedroom home. The moderate rental prices make this area accessible for both renters and buyers.
Jobs & Income
Median Household Income
$98,057
Per Year
Job Market
Federal Way offers a strong job market with opportunities primarily in tech, finance, healthcare, and professional services. The urban setting provides access to major employers and diverse career paths.
Commute & Transportation
Average commute times in this area are approximately 20-30 minutes. Public transportation options are typically available, including buses and metro systems.
Schools Overview
School Quality
ZIP code 98023 in Federal Way, WA generally features quality schools with diverse offerings. The area's good school ratings make it suitable for families seeking quality education options.
Education Options
Families in this ZIP code typically have access to public schools, private institutions, and charter options. Urban areas often provide specialized programs, magnet schools, and diverse educational resources.
Is ZIP 98023 a Good Place to Live?
Whether ZIP code 98023 in Federal Way, WA is right for you depends on your priorities. Here's a balanced look:
Pros
- ✓Access to jobs, amenities, and entertainment
- ✓Strong economic stability
- ✓High-value, appreciating properties
Cons
- ⚠Higher cost of living and noise
The Bottom Line
ZIP code 98023 is ideal for those who thrive in dynamic, fast-paced environments with easy access to culture and career opportunities. Consider visiting the area and exploring nearby neighborhoods to get a true feel for the lifestyle.
Frequently Asked Questions
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