| ZIP Code | 98023 |
|---|---|
| City | Federal Way |
| State | Washington (WA) |
| County | King County |
| Area Code | 253 |
| Elevation | 371 ft |
| Latitude | 47.311491 |
|---|---|
| Longitude | -122.36281 |
| Timezone | Los Angeles (DST) |
| FIPS | 53033 |
| ZIP Type | Standard |
| Status | Active |
Race & Ethnicity
Age Breakdown
Key Indicators
| Median Age | 38.9 yrs ↑ 6% since 2019 |
|---|---|
| Avg Household Size | 2.77 |
| Below Poverty | 9.9% ≈ Avg |
| College Grads | 44.4% ▲ 14% above avg |
| Unemployment | 4.9% ≈ Avg |
| No HS Diploma | 709 (2.2%) |
| HS Graduate | 8,058 (24.5%) |
| Some College | 3,983 (12.1%) |
| Associates | 5,534 (16.8%) |
| Bachelors | 3,187 (9.7%) |
| Graduate Degree | 11,387 (34.7%) |
Education
Housing Tenure
Home Value Distribution
Financials
| Median HH Income | $101,960 ▲ 34% above avg ↑ 28% since 2019 |
|---|---|
| Median Home Value | $545,600 ▲ 96% above avg ↑ 57% since 2019 |
| Home/Income Ratio | 5.4x (nat avg ~3.5x) |
| Median Rent | $1,875/mo ↑ 25% since 2019 |
| Total Units | 18,777 |
| Vacant Units | 975 |
| Avg HH Size | 2.77 |
Income Distribution
How People Get to Work
Commute Time
Year Built
Summary
| Total Units | 18,777 |
|---|---|
| Vacant | 975 |
| Owner Occupied | 66.4% |
| Renter Occupied | 33.6% |
| Avg HH Size | 2.77 |
ZIP code 98023 is located in Federal Way, Washington, within King County. With a population of 49,593, this is a highly populated ZIP code with a middle-aged community — the median age is 38.9 years. Economically, 98023 is a upper-middle-income ZIP code: the median household income of $101,960 is above the national average.
Real estate in ZIP code 98023 represents a premium housing market. The median home value of $545,600 is significantly above the national average. Renters can expect to pay around $1,875 per month in median rent. Homeownership is strong here — 66.4% of occupied units are owner-occupied, suggesting an established, stable residential community. Median home values have increased by 57% since 2019.
The population of 98023 is racially diverse, with White as the largest group at 41.0%. Residents are well-educated — 44.4% hold a bachelor's degree or higher, which is near the national average. Poverty affects a relatively small share of residents at 9.9%. Household income has grown by 28% since 2019.
The unemployment rate in 98023 stands at 4.9%, which is near the national average. About 16% of workers are remote. As in most parts of the country, driving alone is the dominant commute mode at 68%.
Overall, ZIP code 98023 in Federal Way, WA is characterized as upper-middle-income, well-educated, a middle-aged community, and predominantly owner-occupied. With 49,593 residents, a median household income of $101,960, and a median home value of $545,600, it offers a clear picture of life in this part of Washington.