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from $9991 to 2 Bedroom Apartments Available Now
Meridian Court Senior Affordable Apartments
31420 23rd Ave SFederal Way, WA 98003
Cheap Apartments for Rent in the Steel Lake Neighborhood of Federal Way, WA from $900 (3 Rentals)
Cheap Apartments in the Steel Lake area of Federal Way.
Navigating the Rental Market: Tips for First-Time Renters
Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.
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from $1,3951 to 2 Bedroom Apartments Available Now
View at the Lake
30602 Pacific Hwy SFederal Way, WA 98003
Know Your Rights - How Discrimination Laws Impact Landlords and Tenants
Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.
518 S 321st St
Federal WayWA98003
Seattle's Best Affordable Neighborhoods
Learn about Seattle, WA and the best places to live with original content written by our Local Expert Sharon Stallings
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Steel Lake, Federal Way, WA Local Guide
Dedication of Downtown Flag and Veterans Way by Darel Roa Photography is licensed under CC BY-SA 3.0
How much does it cost to rent an apartment in Steel Lake?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Steel Lake Studio Apartments | $1,608 | $1,608 | $1,608 |
| Steel Lake 1 Bedroom Apartments | $1,570 | $999 | $2,127 |
| Steel Lake 2 Bedroom Apartments | $1,993 | $1,299 | $2,625 |
| Steel Lake 3 Bedroom Apartments | $2,290 | $2,200 | $2,650 |
| Steel Lake 4 Bedroom Apartments | $2,523 | $2,400 | $3,269 |
Browse Apartments in this Neighborhood
There are currently 3 rentals with your search options within a 1 mile radius of the Steel Lake Neighborhood of Federal Way, WA.
See all Apartments in Federal WayExplore Federal Way
Steel Lake, Federal Way, WA Local Guide
- Nearby Federal Way neighborhoods
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Best Value Apartments for Rent in Steel Lake, WA
As of May 03, 2025 the best value apartment in the Steel Lake area is the $1.55 price per square foot 2x1 TH Model at View at the Lake in the in the Redondo neighborhood starting from $1,554. The second greatest value Steel Lake apartment is the Athens Model at Kitts Corner starting at $1,640 with a $2.00 price per square foot in the Jovita neighborhood. Here is today’s list of the best values for Steel Lake apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| View at the Lake | 2x1 TH | 2BR,1BA | $1.55 |
| Kitts Corner | Athens | 1BR,1BA | $2.00 |
| Uptown Square | Bolden | 1BR,1BA | $1.95 |
| Tree Pointe | One Bedroom | 1BR,1BA | $2.07 |
| Steel Lake Plaza | 258 1X1M RENO | 1BR,1BA | $2.34 |
| Watermark | Kitsap | 1BR,1BA | $2.20 |
| The Cove | Bainbridge | 1BR,1BA | $2.50 |
| Homestead Apartments | 1x1 | 1BR,1BA | $2.16 |
| Brookhaven Apartments | 1 Bedroom 1 Bath | 1BR,1BA | $2.53 |
| Meridian Court Senior Affordable Apartments | A03 | 1BR,1BA | $2.42 |
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Pet Friendly LifestyleSteel Lake, Federal Way, WA
Ranked #10
Among neighborhoods in Federal Way, WA for Apartment listings with Pet Friendly Amenities
Pet Friendliness Lifestyle Score
3.5Pet Friendly
Best Local Schools in Steel Lake, Federal Way, WA
Federal Way Senior High School
Federal Way School District
Public School - Grades 9-12 (1640)
3 out of 10
School data provided by Great Schools
Lifestyle Ratings
This website is happy to bring you our detailed rental search system called 'Lifestyle ratings', composed of neighborhoods, metropolitan areas, and rental properties across Washington, including Federal Way. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including filtering automatically for easy access to the parks, luxury housing options, family-friendly amenities, raising pets, transit options, and how walkable or bikeable each community and area is. These search options are in the site filters at the top of this page.
Frequently Asked Questions about Cheap Steel Lake Apartments
What is the price of a cheap apartment in Steel Lake?
The cheapest apartment in Steel Lake is Meridian Court Senior Affordable Apartments which is listed at $999, while the average apartment in Steel Lake costs $2,771.
What types of apartments are the cheapest in Steel Lake?
Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 64 regular apartments in Steel Lake that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
How do the prices of cheap apartments compare to the average apartment in Steel Lake?
Cheap apartments in Steel Lake have an average cost of $1,751 which is $1,020 cheaper than the average rent for all rentals in Steel Lake.
Expert Rental Resources
Helpful Apartment Articles, How-To's and Tips
The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.
Navigating the Rental Market: Tips for First-Time Renters
Written by: Sandy Baker
Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.
Rise of Digital Nomads: Remote Work Tips for Apartment Renters
Written by: Brandie Parton
As a digital nomad, you no longer call a set address or office building your home for eight hours of the day or more.
Know Your Rights - How Discrimination Laws Impact Landlords and Tenants
Written by: Christine Leonard, Esq.
Everyone needs a place to live and to call home. For decades, the federal government has established protections to ensure that individuals and families can find housing free from discriminatory barriers.
Renting Smart: Lease Basics Every Renter Needs
Written by: Christine Leonard, Esq.
Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.