$597,679Average Value$335Average 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
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to let others know what life in this neighborhood is like.
Crime and Safety
1 - Low Crime, 10 - High Crime
Steel Lake
US
Homicide
2
4
Sexual Assault
5
4
Assault with Weapon
5
4
Robbery
5
4
Burglary
6
4
Motor Vehicle Theft
6
4
Larceny
6
4
Crime Score
5
4
Source: WhatIsMyCrimeRisk.com
Steel Lake Demographics and Home Trends
On average, homes in Steel Lake, Federal Way sell after 21 days on the market compared to the national average of 53 days. The median sale price for homes in Steel Lake, Federal Way over the last 12 months is $585,000, down 22% from the median home sale price over the previous 12 months.
Welcome to The Camden at The Summit at Steel Lake—in this new Soundbuilt Homes community! This rare rambler style home offers 2.510 sq. ft. with 4 bedrooms including a main floor primary suite! Main floor also features a great room concept and 2 additional bedrooms. Upstairs a spacious upstairs bonus room & 4th bedroom. Fully fenced 7,214 sq. ft. lot—larger than most new construction. Features
Welcome to The Cedar at The Summit at Steel Lake—in this new Soundbuilt Homes community! This 3,019 sq. ft. home offers 5 bedrooms including a main floor guest suite, plus a spacious upstairs bonus room. Oversized two car garage with shop space and a 7,532 sq. ft. lot—larger than most new construction. Features include LVP flooring, designer finishes, a covered patio, fully fenced yard, and
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
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.
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.
Welcome to The Liam at The Summit at Steel Lake—in this new Soundbuilt Homes community! Model Home Open 7 Days a week 11:00-4:30. This 3,086 sq. ft. home offers 5 bedrooms 2.5 bathrooms, a den, great room concept plus a spacious upstairs bonus room with outdoor balcony. A sought after and rare 3 car garage as well as a 7,342 sq. ft. lot—larger than most new construction. Features include LVP
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.
Welcome to your new home! Fully renovated unit will be ready Conveniently located next to Federal Way High School, these spacious town homes have been newly remodeled. Beautiful modern interiors, granite marble counters, new appliances, modern flooring, fresh paint, new doors, mill-work, and much more. Close to shopping, I-5, and Pacific Hwy. Rent $2095/month W/S/G $125/month
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
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