Home ValuePros

Market Intelligence · WA / Federal Way

Federal Way, WA 98003 Housing Market

Federal Way's 98003 ZIP has a typical home value of $569,819, up 0.6% over the past year. The median list price stands at $515,000, with homes taking 39 days on market.

Updated August 2026Median value$558K

The median home value in Federal Way, WA 98003 is $558K as of August 2026, up 0.7% year over year, according to Zillow ZHVI. Get your own home's value and a real cash offer in about two minutes, with sources shown and no obligation.

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Typical 98003 range

$514K to $603K

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

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12-month value trend

+0.7% over 12 months

Typical home value in 98003 over the last 12 months: $554K in Aug 2025 to $558K in Aug 2026 (+0.7%).

Aug 2025$554K

Aug 2026$558K

The numbers

What is the 98003 housing market like?

Typical home value

$558K

Up0.7%YoY

Median list price

$515K

Down2.8%MoM

Days on market

39

Down23.5%MoM

Homes for sale

120

Up25.0%MoM

Price cuts

20.6%

Down28.3%MoM

New listings

64

Up60.0%MoM

Sources · Zillow ZHVI (August 2026) / Realtor.com (August 2026) / FRED (September 2026)

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The comparison

How do 98003 home prices compare?

  • 98003$558,300
  • Federal Way$580,336
  • Washington$500,124
  • United States$288,625

Median Zillow home value (ZHVI), as of August 2026. Comparison levels are medians across every ZIP code with Zillow data (Federal Way: 2 ZIPs; Washington: 485 ZIPs; United States: 26,265 ZIPs).

Context

There are 120 homes for sale in 98003 as of early August, with 64 new listings entering the market recently. The median time homes spend listed is 39 days, which suggests steady buyer interest. However, one indicator of market softness is that 20.6% of listings have had a price cut. For sellers, this mix of modest appreciation and price reductions means you should price competitively and be ready to make value-focused improvements.

Monthly payment

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20% · $111,660

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