Cheap Apartments for Rent in 98023
48 rentals
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Use arrow keys to navigateSPECIAL OFFERPET FRIENDLYTotal price$1,425 - $2,100/mo
1-3 Beds
1-2 BathsPark at Dashpoint | 31736 50th Ln SW #R303,
Federal Way, WA 98023
Use arrow keys to navigatePET FRIENDLY$1,437 - $2,467/mo1-3 Beds1-2 BathsSunset Three Twenty | 1901 SW 320th St #20,
Federal Way, WA 98023
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SPECIAL OFFERPET FRIENDLYTotal price$1,590 - $2,428/mo1-3 Beds1-2 BathsEncore Apartments & Homes | 125 SW Campus Dr #2206,
Federal Way, WA 98023
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SPECIAL OFFERPET FRIENDLY$1,749 - $2,602/mo2-3 Beds1-2 BathsAlign Apartments | 35434 25th Ave SW #3-303,
Federal Way, WA 98023
PET FRIENDLY$1,751 - $2,717/mo1-3 Beds1-3 BathsGlen Park At West Campus | 952 SW Campus Dr #26-A3,
Federal Way, WA 98023
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NEW - 2 DAYS AGOPET FRIENDLY$1,999 - $2,825/mo2-3 Beds2-3 BathsArcadia Townhomes | 1300 SW Campus Dr #32-3,
Federal Way, WA 98023
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Average Rent Trends in 98023
Rent in 98023 varies by number of bedrooms and home type. Use these charts to quickly see how rent changes.
Average rent increased in May 2026 compared to the previous month. Rent previously peaked in Sep 2025.
| Month | Average rent |
|---|---|
| Jun 2025 | $2,600 |
| Jul 2025 | $2,550 |
| Aug 2025 | $2,735 |
| Sep 2025 | $2,799 |
| Oct 2025 | $2,572 |
| Nov 2025 | $2,650 |
| Dec 2025 | $2,500 |
| Jan 2026 | $2,275 |
| Feb 2026 | $2,700 |
| Mar 2026 | $2,500 |
| Apr 2026 | $2,499 |
| May 2026 | $2,600 |
Average Rent By Bedroom and Home Type
In May 2026, Townhomes were the most affordable home type to rent compared with Apartments and Condos and Houses.
| 1 bed | 2 beds | 3 beds | 4 beds | All | |
|---|---|---|---|---|---|
| All home types | $1,588 | $1,915 | $2,750 | $3,275 | $2,600 |
| Townhomes | $2,000 | $2,300 | — | — | $2,000 |
| Apartments and Condos | $1,700 | $2,300 | $2,400 | — | $2,300 |
| Houses | — | $1,995 | $3,306 | $3,275 | $3,300 |
Frequently Asked Questions about Rentals in 98023
- What is the average rent of an apartment in 98023?The average rent of an apartment in 98023 is $2,102 per month. This is about 9% higher than the national average.
- What is the average rent of a house in 98023?The average rent of a house in 98023 is $3,300 per month. This is about 71% higher than the national average.
- What is the average rent of a townhome in 98023?The average rent of a townhome in 98023 is $2,000 per month. This is about 4% higher than the national average.
- When is the average rent cheapest in 98023?In the last year, the average rent in 98023 was lowest in Mar 2025 when it was $2,100 per month.
- When is the average rent most expensive in 98023?In the last year, the average rent in 98023 was highest in Sep 2025 when it was $2,799 per month.
- How does the rent of a 1 bedroom apartment compare to a studio apartment in 98023?The average rent of a 1 bedroom apartment in 98023 is $1,588 per month. That is about $306 more than the cost of a studio apartment.
- How many available rental listings are in 98023?There are 61 available rental listings in 98023.
- What are some cities near 98023?Some nearby cities include: Federal Way, Milton, Fife, Algona, Des Moines, Tacoma. These cities may have more rental options to explore.