Federal Way Homes under $500,000

Welcome to Federal Way, Washington—a vibrant city nestled in the heart of King County, just south of Seattle. Known for its stunning natural beauty and family-friendly atmosphere, Federal Way offers an ideal blend of suburban charm and urban convenience. With its lush parks, scenic waterfront, and a variety of recreational activities, residents enjoy a lifestyle that embraces both relaxation and adventure.

One of the standout features of Federal Way is its diverse array of housing options, particularly for those seeking homes under $500,000. This makes it an attractive destination for first-time homebuyers, families, and anyone looking to invest in a thriving community without breaking the bank. From cozy single-family homes to modern townhouses, there’s something to suit every taste and budget.

The city boasts excellent schools, numerous shopping and dining opportunities, and easy access to nearby attractions like Dash Point State Park and the stunning Puget Sound. With a strong sense of community and a variety of local events throughout the year, Federal Way is a place where neighbors become friends and families thrive.

In addition to its affordability, Federal Way's strategic location provides quick access to major highways and public transportation, making commutes to Seattle and Tacoma a breeze. Whether you’re looking to settle down or invest in a rental property, Federal Way’s housing market under $500,000 offers an enticing opportunity to be part of this flourishing city. Come explore the possibilities and discover your dream home in Federal Way today!

Newest Federal Way Homes under $500,000

$359,950

3 Beds ⋅ 3 Baths ⋅ 2590450 MLS ⋅ ACTIVE Status

Don’t miss this beautifully updated home in SmokeTree! This spacious 3-bedroom townhome truly shines, offering a wonderful combination of stylish updates, privacy, and low-maintenance living. Tucked away at the back of the community, this home enjoys a lovely, private backyard area that does not back up to the street. Inside, you’ll find brand-new luxury vinyl plank flooring throughout the main level, stairs, upper hallway, and bathrooms, along with new carpet in all three bedrooms. The beautiful kitchen has been refreshed with brand-new stainless steel appliances, freshly painted cabinets, resurfaced counters, updated lighting, and a bright, modern feel that’s perfect for everyday living and entertaining. Additional features include fresh paint throughout the home and an attached one-car garage, plus convenient parking in front of the garage. Enjoy access to wonderful community amenities, including an outdoor pool and clubhouse, all surrounded by mature, beautifully established landscaping. The location is ideal, with shopping, dining, trails, and parks nearby, along with easy access to major routes and freeways. This is a fantastic opportunity to own an updated home in a desirable community while enjoying the convenience and ease of a low-maintenance lifestyle. The entire SmokeTree community is getting a fresh new look with exterior painting underway—and it’s looking amazing! Come see all that this special home has to offer!

4802 SW 317th Lane Unit #C, Federal Way

Listing Broker: RentLucky; Shelly Baehler; 206-713-9020; shelly@rentlucky.com

32110 SW 45th Place Unit ##B-4, Federal Way

$225,000

3 Beds ⋅ 2 Baths ⋅ 2590065 MLS ⋅ ACTIVE Status

Opportunity in Maplewood! This 3-bedroom, 1 1/2-bath ground-floor condo is more than livable and ready for a buyer who is willing to put in some TLC. The home primarily needs cleaning, freshening up and cosmetic updates to make it shine. No major renovation is required to enjoy the home while making improvements over time. The 993 sq ft floor plan includes 3 bedrooms, 1 full bath and 1/2 bath, plus washer/dryer hookups. Maplewood offers desirable community amenities including a seasonal swimming pool and sport court. This is a great opportunity for a buyer who wants to build some sweat equity, an investor, or someone looking for an affordable home they can personalize. Seller is highly motivated and selling strictly as-is. Bring your ideas, bring your offer, and make this Maplewood condo your own!

32110 SW 45th Place Unit ##B-4, Federal Way

Listing Broker: Better Properties Kitsap; Stanley Yeadon; 360-710-8815; justcallmestan@msn.com

$399,900

2 Beds ⋅ 3 Baths ⋅ 2590208 MLS ⋅ ACTIVE Status

Tucked away in a safe and quiet neighborhood, this duplex-style home offers a sanctuary from the hustle and bustle. It is rare to find a property that provides such immediate access to urban amenities while maintaining a peaceful, community-first atmosphere. Effortless access in any direction, making the trek to Seattle, Bellevue, or Tacoma a breeze. Located near lush walking trails and minutes from The Commons Mall, movie theaters, and a diverse array of cafes and restaurants. Top-rated schools, grocery stores, and medical clinics are just around the corner, with the hospital only 6 minutes away. The heart of the home was transformed in April 2026 with brand-new kitchen cabinets and updated appliances (2024), offering a crisp, modern aesthetic for your culinary adventures. Enjoy lower utility bills and year-round comfort with brand-new energy-efficient windows (garage, kitchen, and living room) and high-performance sliding doors ($13,900+ investment). Your private patio overlooks Heritage Court's lovely manicured grounds, with classic PNW evergreen trees and multiple garden spaces. Smart layout with Jack and Jill bathroom connecting the two upstairs bedrooms. Hard to find attached garage plus additional parking.

247 S 328th Lane, Federal Way

Listing Broker: John L. Scott, Inc; Nick Gerisilo; 206-372-0218; info@HappyHomeTeam.com

2500 S 370th Street Unit #56, Federal Way

$90,000

3 Beds ⋅ 3 Baths ⋅ 2586752 MLS ⋅ ACTIVE Status

Discover exceptional space, character, and flexibility in this distinctive 3-bedroom, 2-bath double-wide offering approximately 1,848 sq ft plus an additional enclosed bonus room. Warm wood finishes, exposed beams, skylights, and a dramatic stone fireplace create a welcoming interior with personality and charm. Generous living, dining, and family-room spaces provide plenty of room for everyday living and entertaining. The large kitchen features abundant cabinetry, extensive counter space, a breakfast bar, and cooktop. The spacious primary suite includes a walk-in closet and 5-piece bath with dual sinks, separate shower, and jetted soaking tub. Two additional bedrooms offer flexible space for guests, hobbies, or a home office. Major improvements include a recently replaced roof, updated plumbing, and a heat pump with A/C for year-round comfort. Outside, enjoy mature landscaping, a covered outdoor area, a fenced yard space ideal for pets or relaxing, a detached storage/workshop shed, and an extended high-clearance covered carport with generous parking. Located in the established 55+ Kloshe Illahee community with clubhouse, pool, spa, sauna, fitness center, trails, RV parking, and recreational spaces. Conveniently located near shopping, dining, medical services, and freeway access. Schedule your private showing today and see everything this spacious, unique home has to offer!

2500 S 370th Street Unit #56, Federal Way

Listing Broker: Windermere RE South Sound, Inc; Petru Mihaluta; 425-505-0595; petru@windermere.com

31813 21st Avenue SW Unit #27, Federal Way

$59,000

3 Beds ⋅ 2 Baths ⋅ 2588932 MLS ⋅ ACTIVE Status

Welcome home to this 3 bedroom, 1.5 bathroom home located in the Highline Park community. This inviting residence offers a comfortable and functional floor plan with a warm, welcoming feel throughout. The home features a spacious living area with plenty of room for relaxing or entertaining, along with a well designed kitchen equipped with stainless steel appliances that provide both style and convenience. The primary bedroom offers a private retreat with the added benefit of an attached half bathroom. The two additional bedrooms provide room for guests or an office. The home includes an in unit washer and dryer, adding everyday convenience and making laundry simple. Enjoy the benefits of a peaceful community setting while remaining close to shopping, dining, parks, and major commuter routes. With a comfortable layout, convenient features, and a great location, this home offers a wonderful opportunity for those seeking affordable and convenient living in Federal Way.

31813 21st Avenue SW Unit #27, Federal Way

Listing Broker: Every Door Real Estate; SandraJean Daniels; 252-342-1646; sandrajeand@everydoorrealestate.com

2500 S 370th Street Unit #9, Federal Way

$149,000

3 Beds ⋅ 2 Baths ⋅ 2589401 MLS ⋅ ACTIVE Status

Completely remodeled and move-in ready in the desirable 55+ Kloshe Illahee community. Thoughtfully renovated from top to bottom the home features fresh modern finishes throughout including a stunning kitchen with brand new cabinetry, quartz countertops and stainless steel appliances. Additional features include a skylight, new Milgard windows, updated plumbing and electrical, washer/dryer and a new water heater providing peace of mind. The cozy fireplace creates a welcoming focal point in the living area complete with a large TV that stays with the home. Bright, spacious and truly turnkey this home offers comfortable living in a well-appointed community with an impressive array of amenities. Residents enjoy access to a clubhouse featuring a heated pool, hot tub, sauna, exercise room, pool tables, library, theater room and party room with a full kitchen.Conveniently located near freeways, shopping, dining and recreation. This beautifully remodeled home combines modern comfort with an exceptional community lifestyle. Attached carport for off street parking for two cars!

2500 S 370th Street Unit #9, Federal Way

Listing Broker: Keller Williams Realty PS; Vasily Y. Stepin; 253-835-4500; vstepin@kw.com

2101 S 324th Street Unit #19, Federal Way

$299,000

2 Beds ⋅ 2 Baths ⋅ 2589315 MLS ⋅ ACTIVE Status

Belmor Park is waiting for you! This beautifully maintained 55+ community features a 9-hole golf course, an indoor pool, dog park, and a small gym. This new home features a cozy, but open layout. There are 2 bedrooms, 2 bathrooms and a den you can turn into an office or another little living area. Do not miss out on this opportunity get a new home in this quiet community, well maintained community.

2101 S 324th Street Unit #19, Federal Way

Listing Broker: MLS4owners.com; Chris C. Nye; 253-460-1900; sales@mls4owners.com

2101 S 324th Street Unit #7, Federal Way

$325,000

3 Beds ⋅ 2 Baths ⋅ 2589237 MLS ⋅ ACTIVE Status

Brand new double-wide! Come join Belmor Park and the many amenities that it offers. This 3-bedroom 2-bathroom home features an open concept with a spacious kitchen with lots of cabinets space and an island for all your entertaining needs. After a long day, retire in your living room to watch tv in front of your built-in entertainment center or just have a nice drink by your electric fireplace. If you are a golfer, like to swim or just want to be close to the city, Belmor Park is the place for you.

2101 S 324th Street Unit #7, Federal Way

Listing Broker: MLS4owners.com; Chris C. Nye; 253-460-1900; sales@mls4owners.com

2101 S 324th Street Unit #188, Federal Way

$179,000

2 Beds ⋅ 2 Baths ⋅ 2589219 MLS ⋅ ACTIVE Status

If you are looking to downsize and want a singlewide, this 900 sq ft unit is for you. Retire in style and come enjoy the many benefits this community has to offer, like the golf course and indoor pool to name a few. The unit comes with a heat pump for those hot summer days and irrigation, so you don’t have to go out and water yourself. You don’t want to miss this great opportunity. This is a 55+ community, and local sales tax apply to all new home sales.

2101 S 324th Street Unit #188, Federal Way

Listing Broker: MLS4owners.com; Chris C. Nye; 253-460-1900; sales@mls4owners.com

$225,000

2 Beds ⋅ 1 Baths ⋅ 2588298 MLS ⋅ ACTIVE Status

Main-floor, single-level renovated condominium offering privacy, comfort, and exceptional value. Ideal for first-time buyers or anyone looking to downsize. This move-in-ready home features a beautifully updated kitchen with quartz countertops, new stainless steel appliances, an undermount sink with pull-down faucet, pantry, and a convenient eating bar. Engineered hardwood floors run throughout, and fresh interior paint gives the home a bright, modern Northwest feel. Wood burning fireplace in a comfy living room with enough room for a full size sectional. The spacious primary bedroom includes a large walk-in closet, and the full-size in-unit washer and dryer add everyday convenience. Adjacent bedroom, and beautifully renovated main bathroom! Enjoy peaceful, tree-filled territorial views from your private patio. Community amenities include a pool, hot tub, and sport court. Conveniently located near the new Federal Way light rail station, with easy access to shopping, dining, and major commuting routes, this is an excellent opportunity for affordable home ownership in south King County. No work needed, just move in and relax. HOA covers Water, Sewer and Garbage. 1 reserved parking spot with lots of extra parking.

431 S 325th Place Unit #W2, Federal Way

Listing Broker: Keller Williams Realty PS; Anna McClusky; 206-659-8884; Anna@legacygroupnw.com

2101 S 324th Street Unit #189, Federal Way

$179,000

2 Beds ⋅ 2 Baths ⋅ 2589185 MLS ⋅ ACTIVE Status

2101 S 324th Street Unit #189, Federal Way

Listing Broker: MLS4owners.com; Chris C. Nye; 253-460-1900; sales@mls4owners.com

$119,950

2 Beds ⋅ 1 Baths ⋅ 2586234 MLS ⋅ ACTIVE Status

Welcome home to an all-ages manufactured home community centrally located near everything you need! This well-maintained 2 Bed / 1 Bath home features an efficient, light-filled layout with [Square Footage] sq ft of cozy living space. Highlights include minisplit ac, new floors trim, along with a roof! Enjoy ample dedicated parking, private outdoor space, and shed storage. Unbeatable location—just minutes to I-5, Hwy 18, Pacific Hwy, local dining, shopping, and public transit. Low-maintenance, move-in ready, and full of potential! Space rent is $1,099 which includes garbage, water, and sewer

1660 S 333rd Street, Federal Way

Listing Broker: Inspire Realty; Alexander Bradshaw; 253-250-7520; alexbradshaw@mjreseattle.com

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