What are the most expensive neighborhoods in Federal Way, WA?

The neighborhoods with the highest median home values in Federal Way, WA include: Marine Hills ($844,460), Campus Highlands ($748,592), Buenna ($734,225), Adelaide ($715,637), Alderbrook ($635,492).

What are the most affordable neighborhoods in Federal Way, WA?

The neighborhoods with the lowest median home values in Federal Way, WA include: Kitts Corner ($343,045), Lake Ota ($418,739), West Campus ($458,182), Redondo ($472,364), Mirror Lake ($529,372).

Which Federal Way, WA neighborhoods have the fastest growing home values?

Neighborhoods with the highest year-over-year value growth in Federal Way, WA include: Mirror Lake (0.8%), Laurelwood (0.6%), Steel Lake (0.1%).

Steel Lake, WA Housing Market

$573,344

0.6% 1-yr

The average Steel Lake, WA home value is $573,344, up 0.6% over the past year. (Updated on 7/31/2026)

What is the Zillow Home Values Index?

Zillow Home Value Index (ZHVI), built from the ground up by measuring monthly changes in property level Zestimates, captures both the level and home values across a wide variety of geographies and housing types.

Learn more about the Zillow Home Value Index

Steel Lake Key Takeaways

Typical Home Values: $573,344

1-Year Value Change: +0.6%

(Data through July 31, 2026)

Steel Lake Housing Market Overview

1-Year Market Forecast: --

For Sale Inventory: 13 (July 31, 2026)

New Listings: --

Median Sale to List Ratio: --

Median Sale Price: --

Median List Price: --

Percent of Sales Over List Price: --

Percent of Sales Under List Price: --

Median Days to Pending: --

(Metric availability is based on market coverage and data, housing data available for download in the Housing Data page)

How does this data help me?
Zillow's metrics provide valuable market data by tracking market changes in different locations and housing types.

Nearby Neighborhoods

NameMedian ZHVI
Laurelwood$592,402
Marine Hills$837,968
Mirror Lake$525,050
Lakeland North$601,463
Redondo$506,250
Buenna$729,267
Redondo$758,515
West Campus$476,954
Kitts Corner$344,516

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Steel Lake Rental Market Trends

Average Rent: --

National Average Rent: $1,962 (July 31, 2026)

Month-Over-Month Change: --

Year-Over-Year Change: --

How does this data help me?
The Zillow Observed Rent Index (ZORI) measures changes in asking rents over time, controlling for changes in the quality of the available rental inventory.