Steel Lake
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.
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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.
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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.
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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.
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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.
Written By
Jackson Hardy
Photography Contributed By
Perry Cucinotta
Video By
Tyler Hall
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Agents Specializing in this Area
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Arron Carr
Arron Carr
Skyline Properties, Inc.
(253) 465-7361
124 Total Sales
1 in Steel Lake
$510,000 Price
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Roger Bintner
Roger Bintner
Responds QuicklyWindermere RE West Campus Inc
(253) 465-2937
61 Total Sales
1 in Steel Lake
$645,000 Price
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Kathryn Kleber
Kathryn Kleber
Keller Williams Realty PS
(206) 460-1987
147 Total Sales
2 in Steel Lake
$410K - $550K Price Range
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Sophia Yazaryan-Cosola
Sophia Yazaryan-Cosola
John L. Scott, Inc.
(253) 796-8411
216 Total Sales
1 in Steel Lake
$455,000 Price
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Don Goethals
Don Goethals
RE/MAX Extra Inc.
(253) 683-7972
396 Total Sales
1 in Steel Lake
$222,000 Price
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Casey Holme
Casey Holme
Windermere Real Estate Co.
(425) 620-2445
53 Total Sales
1 in Steel Lake
$575,000 Price
Schools
Source:
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 , an experienced agent in this neighborhood.
Parks in this Area
Steel Lake Park
- Boating
- Fishing
- Lake
Wildwood Park
Karl Grosch Field
Transit
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
Steel Lake Demographics and Home Trends
On average, homes in Steel Lake, Federal Way sell after 44 days on the market compared to the national average of 70 days. The median sale price for homes in Steel Lake, Federal Way over the last 12 months is $454,985, down 19% from the median home sale price over the previous 12 months.
Housing Trends
Median List Price
$425,000
Median Sale Price
$454,985
Median Single Family Sale Price
$467,810
Median Townhouse Sale Price
$250,000
Median 2 Bedroom Sale Price
$275,000
Median Change From 1st List Price
0%
Last 12 months Home Sales
71
Median Home Sale Price YoY Change
-19%
Average Price Per Sq Ft
$269
Neighborhood Facts
Number of Homes in Neighborhood
1,142
Number of Homes for Sale
8
Median Year Built
1967
Months of Supply
1.40
Average Single Family Home Size Sq Ft
1,751
Below the national average
1,924
Average Townhouse Size Sq Ft
2,193
Average 2 Bedroom Size Sq Ft
886
Median Lot Size Sq Ft
9,147
Open Houses
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Saturday, Aug 212 - 3pm
$680,000
- 3 Beds
- 2.5 Baths
- 2,294 Sq Ft
- 30332 10th Ave S
- New 13 days ago
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
Distribution of Home Values
Homes for Sale
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$335,000
- 3 Beds
- 2 Baths
- 1,065 Sq Ft
- 29645 18th Ave S
- Unit C104
- New 18 days ago
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
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$229,999
- 2 Beds
- 2 Baths
- 880 Sq Ft
- 29645 18th Ave S
- Unit D103
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
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$580,000
- Land
- 1.34 Acre Lot
- 29829 Pacific Hwy S
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.
Homes for Rent
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$1,745 - $1,945 per month
- Brookhaven Apartments
- 1-2 Beds
- 1-2 Baths
- 690+ Sq Ft
- 30823 18th Ave S
- Federal Way, WA
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$1,395 - $1,745 per month
- View at the Lake
- 1-2 Beds
- 1.5 Baths
- 700+ Sq Ft
- 30602 Pacific Hwy S
- Federal Way, WA
Interested in learning more about homes in this area? Reach out to , an experienced agent in this neighborhood.
Average Home Value
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.
Nearby Neighborhoods
Federal Way City Center
Former logging settlement and retail center brimming with activity and culture
Lakeland North
Suburb with new construction, beautiful lakes and an easy commute
Redondo-Des Moines
Peaceful community known for sandy beaches, scenic coastline and bustling marina
Buenna
Bayside enclave with vibrant flower gardens overlooking the Puget Sound
Laurelwood
Central suburban neighborhood with cul-de-sacs and access to commerce
Marine Hills
Lush hills with eclectic homes overlooking the Puget Sound
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