Cheap Apartments for Rent in the Steel Lake Neighborhood of Federal Way, WA from $1,200 (8 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Steel Lake area of Federal Way.

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

Cheapest Available Steel Lake Apartments for Rent

 

The cheapest available apartment rental in the Steel Lake area of Federal Way, WA is a 1 Bed unit found at Meridian Court Senior Affordable Apartments priced from $1,227. View at the Lake I has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,279. Here are the most affordable Steel Lake apartments for rent in Federal Way, WA:

Apartment ListingModel NameBed/BathPriced From
Meridian Court Senior Affordable ApartmentsA031BR,1BA$1,227
View at the Lake I1x11BR,1BA$1,279
Traditions at Federal Way1x11BR,1BA$1,411

Best Value Apartments for Rent in Steel Lake, WA

As of March 29, 2025 the best value apartment in the Steel Lake area is the $2.24 price per square foot 2x2_1014 Model at Brookside Village in the in the Woodmont neighborhood starting from $2,275. The second greatest value Steel Lake apartment is the Armstrong Model at Uptown Square starting at $1,638 with a $1.82 price per square foot in the Redondo neighborhood. Here is today’s list of the best values for Steel Lake apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Brookside Village2x2_10142BR,2BA$2.24
Uptown SquareArmstrong1BR,1BA$1.82
Tree PointeOne Bedroom1BR,1BA$2.07
Steel Lake Plaza258 1X1M RENO1BR,1BA$2.48
View at the Lake I1x11BR,1BA$1.83
The CoveBainbridge1BR,1BA$2.54
Homestead Apartments1x11BR,1BA$2.16
Brookhaven Apartments1 Bedroom 1 Bath1BR,1BA$2.53
Traditions at Federal Way1x11BR,1BA$2.28
Meridian Court Senior Affordable ApartmentsA031BR,1BA$2.42

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Pet Friendly Lifestyle
Steel Lake, Federal Way, WA

Ranked #12

Among neighborhoods in Federal Way, WA for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

3.0
Pet Friendly

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Best Local Schools in
Steel Lake, Federal Way, WA

School data provided by Great Schools

Best Local Schools in
Steel Lake, Federal Way, WA

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 $1,227, while the average apartment in Steel Lake costs $2,400.

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 14 regular apartments in Steel Lake that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

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.

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Renting Smart: Lease Basics Every Renter Needs

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Battling the Butts: Your Guide to the Reality of Smoke-Free Renting

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