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Steel Lake Homes for Sale

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  • /14

    $649,000

    • 2 Beds
    • 2 Baths
    • 1,120 Sq Ft

    1816 S 312th St, Federal Way, WA 98003

    Prime development opportunity or those seeking long-term rental income or starter home in the heart of Federal Way! This expansive 26,224 sq ft corner lot is zoned RM-1800, possibly allowing for up to 14 multifamily units—ideal for builders, investors. The property includes a charming 2-bedroom starter home with utilities already on-site (water, sewer, electricity), plus gas available at the

    Heidi Lee WeLakeside

    1816 S 312th St, Federal Way, WA 98003
  • /26

    $659,000

    • 3 Beds
    • 2.5 Baths
    • 2,294 Sq Ft

    30332 10th Ave S, Federal Way, WA 98003

    This Beautifully Updated 3-bed, 2.5-bath Home offers 2,294 sq. ft. of Stylish living space w/ Spacious Living Room, Cozy Fireplace, Kitchen w/Granite Countertops and Large Bonus Room provides endless flexibility—perfect for a Home Office, Gym, or Playroom. The Luxurious Primary Suite features a 5-Piece Bath, with A/C and Dual Walk-In Closets, French Doors w/ opening to a Private, Fully Fenced

    Chandra Goodwin Coldwell Banker Danforth

    30332 10th Ave S, Federal Way, WA 98003
  • /29

    $325,000

    • 3 Beds
    • 2 Baths
    • 1,065 Sq Ft

    29645 18th Ave S Unit C104, Federal Way, WA 98003

    Bright, fresh, and move-in ready! This spacious 3-bedroom, 2-bath condo features brand-new flooring throughout, fresh paint, and an abundance of natural light. Whether you’re a first-time buyer or seeking a solid rental investment, this home offers both comfort and convenience. Ideally situated just minutes away from Redondo beach, shopping, dining, major commuter routes, and the new Light Rail

    Jana Rad Homes & Equity Real Estate Grp

    29645 18th Ave S Unit C104, Federal Way, WA 98003
  • /31

    $229,999

    • 2 Beds
    • 2 Baths
    • 880 Sq Ft

    29645 18th Ave S Unit D103, Federal Way, WA 98003

    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.

    Mimi Kwon Best Choice Realty LLC

    29645 18th Ave S Unit D103, Federal Way, WA 98003
  • /4

    $580,000

    • Land
    • 1.34 Acres
    • $431,580 per Acre

    29829 Pacific Hwy S, Federal Way, WA 98003

    250 feet of frontage on High Traffic Pacific Highway South. Just over an acre with access from both 16th Ave S on the West, and Pacific highway South on the east. Business Commercial Zoning.

    Sandee Baker Zaran Sayre & Associates, Inc.

    29829 Pacific Hwy S, Federal Way, WA 98003
  • /2

    $1,800,000

    • Land
    • 0.78 Acre
    • $2,312,436 per Acre

    30600 Pacific Hwy S, Federal Way, WA 98003

    Very potential commercial lot in the heart of Federal Way, you can build a multiple unit rental apartment, or a mix use business building. Please verify with City planning department.

    Hiep Vinh Skyline Properties, Inc.

    30600 Pacific Hwy S, Federal Way, WA 98003
  • /2

    $881,375 New Construction

    • 5 Beds
    • 3.5 Baths
    • 2,810 Sq Ft

    30327 11th Place S, Federal Way, WA 98003

    Welcome to The Sterling at The Summit at Steel Lake—one of the first releases in this new Soundbuilt Homes community! This 2,810 sq. ft. home offers 4 bedrooms, 3.5 bathrooms including a main floor guest suite. A functional floorplan also featuring a spacious upstairs playroom. Sitting on a 7,500 sq. ft. lot, this home offers an abundance of yard space. Features include a covered patio, fenced

    Kyle Fox Windermere RE/Lake Tapps, Inc

    30327 11th Place S, Federal Way, WA 98003
  • /3

    $908,375 New Construction

    • 5 Beds
    • 3 Baths
    • 2,983 Sq Ft

    30214 11th Place S, Federal Way, WA 98003

    Welcome to The Beaumont at The Summit at Steel Lake—one of the first releases in this new Soundbuilt Homes community! This 2,983 sq. ft. home offers 5 bedrooms including a main floor guest suite, plus a spacious upstairs loft. Tandem 3 car garage with shop space and a 7,200 sq. ft. lot—larger than most new construction. Features include a covered patio, fenced yard, and energy-efficient heat

    Kyle Fox Windermere RE/Lake Tapps, Inc

    30214 11th Place S, Federal Way, WA 98003

Why Live in Steel Lake

Steel Lake in Federal Way is a neighborhood characterized by its elevated homes and towering pine trees, many of which have private docks and patios overlooking the tranquil waters of Steel Lake. The area features a mix of classic single-level, raised ranch-style, and split-level homes, with prices ranging from $400,000 to $900,000. The Overlook, a three-story condominium complex, offers more affordable options between $250,000 and $350,000. Steel Lake Park, a 53-acre green space, is a local attraction with a sandy beach, boat launches, beach volleyball, a skate park, and a large playground. Nearby Wildwood Park and Sacajawea Park provide additional recreational facilities, including sports fields and paved trails. The neighborhood is car-dependent, bordered by Route 99 and I-5, with easy access to Tacoma (14 miles south) and Seattle (22 miles north). Public transportation is available via Sound Transit buses, and a light rail system is under construction, set to connect the area by 2026. The city center, just south of Steel Lake, offers retail options, supermarkets, and diverse dining experiences, such as 85°C Bakery Café and Mirak Korean BBQ.

Frequently Asked Questions

Is Steel Lake a good place to live?
Steel Lake is a good place to live. Steel Lake is considered somewhat walkable and somewhat bikeable with some transit options. Steel Lake has 3 parks for recreational activities. It has a median age of 38. The average household income is $89,457 which is below the national average. College graduates make up 26% of residents. A majority of residents in Steel Lake are renters, with 50.3% of residents renting and 49.7% of residents owning their home. A local real estate agent serving Steel Lake can help you decide if this neighborhood is the right one for you. Learn more on our Steel Lake neighborhood guide.
How much do you need to make to afford a house in Steel Lake?
The median home price in Steel Lake is $587,500. If you put a 20% down payment of $117,500 and had a 30-year fixed mortgage with an interest rate of 6.56%, your estimated principal and interest payment would be $2,990 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $128K a year to afford the median home price in Steel Lake. The average household income in Steel Lake is $89K.
What are the best public schools in Steel Lake?
The best public schools that serve Steel Lake are:
  • Federal Way High School has a B Niche grade, a student teacher ratio of 21:1 and an average review score of 3.9.
  • Nautilus K-8 School has a B Niche grade, a student teacher ratio of 17:1 and an average review score of 3.0.
  • Sacajawea Middle School has a C Niche grade, a student teacher ratio of 17:1 and an average review score of 3.2.
What are the best private schools in Steel Lake?
The best private schools that serve Steel Lake are:
What are the most popular zip codes in Steel Lake, Federal Way, WA?
The most popular zip codes in Steel Lake, Federal Way, WA include 98003, 98001, 98023, 98198 and 98108.
What are the most popular neighborhoods near Steel Lake, Federal Way, WA?
The most popular neighborhoods near Steel Lake, Federal Way, WA are Mirror Lake, Federal Way City Center, Marine Hills, Laurelwood and Redondo-Federal Way.
Are home prices dropping in Steel Lake?
Yes, home prices in Steel Lake are down 14% in the last 12 months.

Home Trends in Steel Lake, WA

Housing Trends

Median Sale Price
$586,000
Median Single Family Sale Price
$625,000
Median 2 Bedroom Sale Price
$232,499
Average Price Per Sq Ft
$338
Number of Homes for Sale
6
Last 12 months Home Sales
26
Months of Supply
2.80
Median List Price
$587,500
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
-22%
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