Home Insurance in Federal Way, Washington
With a median home value of $552,800, Federal Way is 36% lower than the King County median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in Federal Way was built around 1984. About 5% of homes were built before 1960, about 18 points below King County's 23%.
In Federal Way, the housing stock is 52% single-family homes, 33% apartments in buildings with 5+ units and 4% mobile or manufactured homes. The rest are 2-4 unit or other housing types. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
About 68% of owner-occupied homes in Federal Way have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
Federal Way has an owner-occupancy rate of 55% and a vacancy rate of 5%; unoccupied homes typically need a different coverage form.
Most homes in Federal Way - 58% - are primarily heated with electricity.
FEMA rates King County's overall risk as Very High, led by earthquake (Very High). King County had 6,820 active NFIP flood policies as of September 2026. See the full King County home insurance overview for all FEMA hazard ratings and flood coverage details. Earthquake damage is excluded from a standard homeowners policy.
In Washington, the statewide average premium for a standard HO-3 homeowners policy is $1,232 per year (NAIC, 2023 data).
Key figures
| Median home value | $552,800 |
|---|---|
| Median year built | 1984 |
| Owner-occupied share | 55% |
| Share of owner-occupied homes with a mortgage | 68% |
| Top county hazard | Earthquake (Very High) |
| Active NFIP policies in King County | 6,820 |
| Home insurance premium | $1,232 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)