HomeWashingtonKing CountyFederal Way city
Federal Way city, Washington: commercial real estate data.
Federal Way city is a Census city of 99,493 people across 22.31 square miles of land, in King County. Median household income is $86,909, 55.3 percent of occupied homes are owned, and the SBA record carries 183 7(a) approvals to borrowers here worth $88.4 m.
77 sourced place values · tier FULL · 8 sections · underlined figures are computed by MMCG Analytics, not published by the agency
Federal Way
What Federal Way is
- Census place typecity
- Land area22.31 sq mi
- Water area1.4 sq mi
- Population per square mile of land4,459
- County holding the largest share of its areaKing County, 100.0 percent
US Census Bureau, cartographic boundary file, places, 2024 vintage. US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Federal Way
How many people live in Federal Way
- Population99,493
- Median age37.4
- Population under 1822,706
- Share under 1822.8 percent
- Population 65 and over14,965
- Share 65 and over15.0 percent
- Households35,717
- Family households23,131
- Share of households that are families64.8 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Federal Way
Income and work in Federal Way
- Median household income$86,909
- Per capita income$40,975
- Civilian labor force52,511
- Employed49,666
- Unemployed2,845
- Unemployment rate5.4 percent
- Adults 25 and over68,638
- Adults 25 and over with a high school diploma or higher89.0 percent
- Adults 25 and over with a bachelor degree or higher30.8 percent
- Adults 25 and over with a graduate degree9.6 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Federal Way
Housing in Federal Way
- Housing units37,479
- Occupied units35,717
- Vacant units1,762 plus or minus 401
- Vacancy rate4.7 percent plus or minus 1.1
- Owner occupied19,757
- Renter occupied15,960
- Ownership rate55.3 percent
- Median owner-occupied home value$552,800
- Median gross rent, monthly$1,797
- Annual rent as a share of median income24.8 percent
- Single family units19,495
- Share single family52.0 percent
- Units in buildings of two or more16,476
- Share in buildings of two or more44.0 percent
- Mobile homes1,454
- Median year structure built1984
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Federal Way
How Federal Way gets to work
- Workers 16 and over who commute41,424
- Commuting under 15 minutes7,041
- Share commuting under 15 minutes17.0 percent
- Commuting 30 minutes or more21,526
- Share commuting 30 minutes or more52.0 percent
- Drove alone66.5 percent
- Carpooled12.1 percent
- Public transport4.5 percent plus or minus 1.3
- Walked2.1 percent plus or minus 0.8
- Worked from home13.7 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Federal Way
SBA loans in Federal Way (7(a))
- Approvals183
- Gross approval$88,444,900
- Average approval$483,305
- Median approval$197,000
- Ninetieth percentile approval$1,233,000
- Largest approval$4,694,100
- Jobs supported1,569
- Jobs per approval8.6
- Loans with a final outcome35
- Paid in full33
- Charged off2
- Charge-off rate over resolved loans5.7 percent
- Median term120 months
- Share on real estate terms of 20 years or more17.5 percent
- Share to franchises6.6 percent
- Distinct lenders48
- Distinct industries by NAICS80
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Federal Way
SBA loans in Federal Way (504)
- Approvals23
- Gross approval$29,588,000
- Average approval$1,286,435
- Median approval$773,000
- Largest approval$5,500,000
- Jobs supported203
- Loans with a final outcome5
- Charged off0
- Median term300 months
- Distinct CDCs3
US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
King County, not Federal Way
King County context, not Federal Way figures
These are King County figures. There is no place level equivalent published for any of them, so they are shown as the county backdrop and never as Federal Way measurements.
- Establishments in King County70,376
- Employment at those establishments, King County1,305,947
- Covered employment, King County1,449,785
- Average annual pay, King County$132,279
- Average weekly wage, King County$2,544
- Housing units permitted, King County10,564
- Of those, single family, King County2,352
- County product, 2024, King County$477,154,354,000
- County product change over the prior year, King County7.9 percent
- Average income of an arriving household, King County$117,917
Every figure in this section is published for King County as a whole and is not a measurement of Federal Way. It is here because a county backdrop is what a credit committee reads a place against, and it is labelled so that it can never be quoted as the place's own.
US Census Bureau, County Business Patterns, 2023. US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages. US Census Bureau, Building Permits Survey, 2024 annual. US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024. US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- This place is not listed as a community in the FEMA Community Status Book, so no NFIP participation or CRS class is shown.
- Parcel level detail, zoning and flood zone at an address are resolved in the platform, not on this page.
SBA figures count approvals to borrowers whose address is in the place. They are not approvals for projects inside the place boundary: the tape records a borrower city and a project county, and those can differ.
Common questions
Federal Way questions, answered from the record.
How many people live in Federal Way, Washington?
99,493, in 35,717 households. Federal Way city covers 22.31 square miles of land, which is 4,459 people per square mile. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
What county is Federal Way in?
King County, which holds 100.0 percent of the place by area. Source: US Census Bureau, cartographic boundary file, places, 2024 vintage.
What is the median household income in Federal Way?
$86,909. The median owner-occupied home is valued at $552,800. Median gross rent is $1,797 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
How much SBA lending goes to Federal Way businesses?
183 7(a) approvals totalling $88.4 m, across 48 lenders, median approval $197,000, plus 23 504 approvals worth $29.6 m. These count approvals to borrowers whose address is in Federal Way, not projects sited inside the place boundary, and they are approvals recorded in the release rather than loans disbursed.
Do SBA loans to Federal Way borrowers get paid back?
Of the 35 loans that have reached a final outcome, 33 were paid in full and 2 charged off, a charge off rate of 5.7 percent. Loans still running are excluded because they have not yet succeeded or failed.
Are the county figures on this page Federal Way figures?
No, and they are labelled so. County Business Patterns, QCEW, the Building Permits Survey, BEA product and IRS migration are published for King County as a whole and there is no place level equivalent. They appear in one clearly marked section as context and are never presented as measurements of Federal Way.
Is zoning published for Federal Way?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning.