$589,516Average Value$348Average Price per Sq Ft5Homes For Sale
Lakeside living on the shores of King County
On the southern shores of King County, Washington, Steel Lake is a neighborhood with lakeside living. Federal Way's hilly landscape descends on a downhill slope where vegetation grows thicker and more vibrant by the glimmering surface of Steel Lake, a significant body of water known for its park facilities next to retail and local schools. "Steel Lake is a go-to destination on a major bus line," says Zander Spain Greene, Communications & Program Coordinator at the Greater Federal Way Chamber of Commerce. "You see a lot of people going to swim in the summer. People can also shop and visit the restaurants, and kids hang out at the skate park after school."
Elevated ranch-style homes by the lake
Pine trees tower above elevated homes overlooking the calm waters of Steel Lake. While the area is part of a public park, many homes have private docks, patios and boat launches. "The Steel Lake neighborhood is close to the school and the lake, and it has a large affordable selection of new homes," says Lanae Miller, Real Estate Agent at Keller Williams Mountain to Sound Realty with over 20 years of experience. "There's also an access ramp directly onto Interstate 5 for people driving to Tacoma and Seattle daily." Steel Lake features classic single-level and raised ranch-style homes alongside split levels. Home prices typically range from $400,000 to $700,000, while brand-new builds or homes surrounding Steel Lake cost around $700,000 to $900,000. The Overlook is a three-story condominium complex on 18th Avenue with prices between $250,000 and $350,000.
This stunning ranch home has a bright green exterior and perfect lawn.
A row of beautiful ranch style homes in the Steel Lake neighborhood.
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Steel Lake Park is bustling in the summer
Steel Lake Park is a 53-acre green space with a sandy beach for swimming and boat launches for kayaking or boating on a 250-acre lake stocked with rainbow trout. With a concession stand for snacks and picnic areas, Steel Lake also includes beach volleyball, a skate park and a sprawling wooden playground that resembles a medieval castle. Wildwood Park's paved trail wanders through the forest to a shady jungle gym and picnic areas. Sacajawea Park encompasses sports facilities, including football fields, baseball diamonds, tennis courts and a running track on an 18-acre area next to Sacajawea Middle School.
teel Lake Park is a family-friendly park with a lake, a play structure, and concessions.
Steel Lake Park is a wonderful place to for families with kids.
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Federal Way High School's "Fed Talks"
Wildwood Elementary receives a C overall grade from Niche, and students can join the Elementary Track and Field Program, which doubles as a grassroots guide to sports. Sacajawea Middle School also maintains a C and has a Cambridge Academy program, which prepares students to transition into university-level coursework. Federal Way High School earns a B, and graduating students can return to give “Fed Talks,” which are presentations that share life lessons with the upcoming classes.
Wildwood Elementary School greets children in Federal Way, WA.
Sacajawea Middle School
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Retail in the city center
The city center offers retail, supermarkets and restaurants just south of Steel Lake. In Pavilions Centre, retail chains like Barnes & Noble sit alongside quaint Asian cafes and tea shops like 85°C, a Taiwanese-inspired bakery and café that serves boba tea, coffee and cakes. For dinner, Mirak Korean BBQ is a buffet-style restaurant with marinated briskets, ribs and steak that customers cook on interactive tabletop grills. Walmart is on 314th Street, while H Mart is a supermarket on Pacific Highway.
85 degrees has some delicious cakes and pastries you won't find anywhere else.
Mirak Korean offers authentic Korean dish's in Federal Way.
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Car-dependent with an upcoming light rail
Steel Lake is a car-dependent neighborhood bordered by Route 99 and I-5, easily accessible from 320th Street. Sound Transit provides public transportation with bus stops along Pacific Highway. A light rail is also being built, with stations in Star Lake and Downtown Federal Way, that will connect the surrounding cities after its completion in 2026. Tacoma is about 14 miles south on I-5, while Seattle is roughly 22 miles north. The Seattle-Tacoma International Airport offers air travel for Federal Way residents.
GreatSchools:
The GreatSchools Rating helps parents compare schools within a state based on a variety of school quality indicators and provides a helpful picture of how effectively each school serves all of its students. Ratings are on a scale of 1 (below average) to 10 (above average) and can include test scores, college readiness, academic progress, advanced courses, equity, discipline and attendance data. We also advise parents to visit schools, consider other information on school performance and programs, and consider family needs as part of the school selection process.
View GreatSchools Rating Methodology
Interested in learning more about homes in this area?
Reach out to
Lanae Miller,
an experienced agent in this neighborhood.
Parks in this Area
Steel Lake Park
Boating
Fishing
Lake
Wildwood Park
Karl Grosch Field
Transit
Airport
Seattle-Tacoma International
21 min drive
Bus
28th Ave S & S 308th Ln
Bus
S 312th St & 20th Ave S
Bus
Pacific HWY S & S 312th St
Bus
Pacific HWY S & S 308th St
Bus
28th Ave S & S 312th St
Bus
S 312th St & 23rd Ave S
Bus
S 304th St & Military Rd S
Crime and Safety
1 - Low Crime, 10 - High Crime
Steel Lake
US
Homicide
4
4
Sexual Assault
4
4
Assault with Weapon
4
4
Robbery
5
4
Burglary
5
4
Motor Vehicle Theft
6
4
Larceny
5
4
Crime Score
5
4
Source: WhatIsMyCrimeRisk.com
Demographics and Home Trends
On average, homes in Steel Lake, Federal Way sell after 31 days on the market compared to the national average of 47 days. The average sale price for homes in Steel Lake, Federal Way over the last 12 months is $694,549, up 8% from the average home sale price over the previous 12 months.
Ground-floor 2 bed, 2 bath condo with stunning Puget Sound & mountain views! No stairs—easy access from the street and your own covered parking. Newer appliances plus in-unit washer/dryer included. Cozy fireplace in the living room with natural light and views. HOA covers water, sewer, and garbage. No rental cap—ideal for both homeowners and investors. Well-maintained and move-in ready.
Unleash your vision with this 5 bedroom 2.5 bath home with endless possibilities in Federal Way. This spacious fixer-upper boasts a generous lot and tons of potential. Attached 2 car carport and workshop space. Inside features open floor plan from to kitchen to living room with a pellet stove, 2 bedrooms on main level, upstairs has 2 more bedrooms and bathroom. Lower level has 5th bedroom room
This beautifully updated, move-in-ready retreat offers 5 beds & 3.75baths, set on a private 17,000+ SF lot with potential for dual livingspaces. Enjoy breathtaking lake views from nearly every room. The mainlevel features kitchen with new ss appliances, living room, 2 beds and 2baths. The lower level continues to impress with a second primarybedroom & 2 more beds, full bath, a private entrance
DiscoverBrookhaven Apartments, where convenience merges with modern living in apeaceful community. Located in Federal Way, WA, our pet-friendly apartmentsoffer a range of thoughtfully designed amenities and inviting spaces crafted toenhance your everyday experience. Whether youre unwinding at home or exploringthe neighborhood, everything you need is just moments away.
If you’re looking for Federal Way apartments, look no further than Treepointe, where we combine an excellent location with quality amenities and stylish floor plans. Our renovated one and two bedroom homes come cable-ready with satellite TV connections, extra storage options, and heating. Our controlled-access apartments also showcase hard surface flooring, upgraded lighting, all-white
Thanks for checking out View at the Lake Apartments, a locally owned and expertly managed community in the heart of Federal Way, WA. Here, you'll find a perfect blend of convenience and comfort, with easy access to lush parks, vibrant shopping, and delightful dining options, all just minutes away. Choose from our spacious 1- and 2-bedroom apartment homes, each designed to offer exceptional value.
Interested in learning more about homes in this area?
Reach out to
Lanae Miller,
an experienced agent in this neighborhood.
Average Home Value
Source: Public Records
Property Mix - Square Feet
This Neighborhood Has Equal Renters and Owners
Demographics
Total Population
5,040
Median Age
38
Population under 18
24%
On par with the national average
23.8%
Population over 65
16.2%
On par with the national average
19.1%
Finances
Median Household Income
$78,925
Above the national average
$71,702
Average Household Income
$89,457
Education and Workforce
High School Graduates
85.1%
College Graduates
26%
Below the national average
34.1%
Advanced Degrees
6.6%
Below the national average
13.3%
% Population in Labor Force
67.9%
Weather
Annual Precipitation
39''
Average Winter Low Temperature
37°F
Average Summer High Temperature
77°F
Annual Snowfall
2''
Area Factors
Somewhat Bikeable
Bike Score®
44/ 100
Somewhat Walkable
Walk Score®
68/ 100
Some Transit
Transit Score®
42/ 100
Source: Walk Score
Source: Walk Score
Sound Score® measures the noise level of any address. Transit Score® measures access to public transit. Bike Score® measures the bikeability of any address.
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. Our sources include: Accuweather, Public Records and Neustar. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
