Federal Way Homes under $500,000

Federal Way Homes under $500,000

Welcome to Federal Way, Washington—a vibrant community nestled in the heart of King County, just south of Seattle. Known for its stunning natural beauty, Federal Way boasts an array of parks, trails, and waterfront views that make it an ideal place for families, outdoor enthusiasts, and anyone seeking a balanced lifestyle. With its convenient access to major highways and public transit, commuting to Seattle or Tacoma is a breeze, allowing residents to enjoy the best of both worlds.

One of the most appealing aspects of Federal Way is its diverse real estate market, particularly for homebuyers seeking properties under $500,000. This price range offers a variety of options, from charming single-family homes to cozy townhouses, perfect for first-time buyers or those looking to downsize. Many homes in this price bracket feature spacious yards, modern amenities, and proximity to local schools and shopping centers, making them not only affordable but also incredibly desirable.

The neighborhood is also rich in community spirit, with numerous events and activities throughout the year that bring residents together. Whether it’s exploring the lush trails of Dash Point State Park, enjoying a sunny day at the Federal Way Community Center, or taking in the sights at the Wild Waves Theme Park, there’s always something to do.

With its friendly atmosphere, beautiful surroundings, and access to homes under $500,000, Federal Way is not just a place to live; it’s a place to thrive. Come discover your dream home in this enchanting community today!

Newest Federal Way Homes under $500,000

3213 SW 319th Place Unit #19, Federal Way
$499,950
4 Beds ⋅ 3 Baths ⋅ 2595495 MLS ⋅ ACTIVE Status
Completely transformed with a brand-new custom kitchen and down-to-the-studs bathroom remodels, this beautifully updated Quail Run townhome offers high-end luxury paired with a rare main-floor primary suite. Inside, soaring cathedral ceilings and a stunning floor-to-ceiling ledgestone fireplace frame an inviting main level featuring gleaming hardwood floors, brand-new windows, and a completely reimagined gourmet kitchen complete with soft-close cabinetry, an appliance trolley, a pot filler, striking decorative tile, and stainless steel appliances. Every bathroom has been stripped to the framing and rebuilt with fresh designer finishes, modern tilework, and upscale fixtures for a true spa-like experience. The fully finished lower level expands your living space with a huge media/family room anchored by a cozy second fireplace, a tiled laundry area, a flexible craft/bonus room, and two additional bedrooms—including one with a private patio that makes an ideal home office. Complemented by a private front entry courtyard, a brand-new back deck, updated furnace and water heater, all-new plumbing and electrical systems, and a large two-car garage with loft storage, this turnkey home offers absolute peace of mind alongside resort-style community amenities including a clubhouse, pool, sauna, and tennis courts.

3213 SW 319th Place Unit #19, Federal Way

Listing Broker: Windermere Prof Partners; Greg Devey; 253-973-7786; gregdevey@windermere.com

4900 S 300th Place S, Auburn
$469,950
4 Beds ⋅ 2 Baths ⋅ 2595143 MLS ⋅ ACTIVE Status
Welcome home to this inviting 4-bedroom home nestled in a nice, quiet Auburn neighborhood! With plenty of room to spread out, this home offers comfortable living and space to fit a variety of needs. Step outside to a fully fenced backyard featuring a spacious deck and retractable awning—perfect for relaxing, entertaining, and enjoying the outdoors in comfort and shade. Whether you’re hosting summer barbecues, spending time with loved ones, or simply unwinding at the end of the day, this backyard offers a wonderful place to enjoy. With four bedrooms and a peaceful neighborhood setting, this home is a great opportunity to make yourself at home!

4900 S 300th Place S, Auburn

Listing Broker: HomeSmart Real Estate Assoc; Byron Peterson; 206-356-7814; byronfpeterson@gmail.com

3001 S 288th Street Unit #34, Federal Way
$50,000
2 Beds ⋅ 1 Baths ⋅ 2594757 MLS ⋅ ACTIVE Status
All ages Park- This home has a brand new roof put on in April as well as a new heat pump and heating system for the entire home. Enough parking space for three or four cars. Very kid friendly. It's very much move in ready, just come and put your finishing touches on it and make it yours. Steel Lake and Park is just a mile or two away. great for Barbecuing Or just hanging out. Reach out to your real estate agent and book a tour. Do it quickly because this place won't last. It's hard to find a home under 50K these days. Especially ones that have a new heat pump and roof.

3001 S 288th Street Unit #34, Federal Way

Listing Broker: Seattle Works Real Estate; Chad Sanek; 206-790-1813; Sanekhomes@gmail.com

2101 S 324th Street Unit #324, Federal Way
$79,000
2 Beds ⋅ 2 Baths ⋅ 2593277 MLS ⋅ ACTIVE Status
Beautiful golf-course views, stylish updates, and a welcoming setting make this home a standout in Belmor Estates! Near the 5th tee in this gated 55+ community, this 2-bedroom, 1.75-bath double-wide offers approx. 1,060 sq ft of bright, comfortable single-level living. Expansive windows fill the spacious living room with natural light, complemented by stylish vinyl plank flooring, fresh interior paint, and updated fixtures. The adjoining dining area features beautiful built-in cabinetry with glass-front doors, while the inviting kitchen offers white cabinets, generous counter space, a breakfast bar, and ample storage. Enjoy a private primary ensuite bath, a flexible second bedroom for guests or hobbies, and a separate laundry area. Big-ticket improvements include a NEW HEAT PUMP WITH A/C (8/2024) for year-round comfort, plus NEW APPLIANCES AND GARBAGE DISPOSAL. Outside, a new garden, fresh landscaping and lawn, mature greenery, and a paved garden walkway add outdoor charm. A long covered carport, ramped entry, and detached storage shed add everyday convenience. Belmor Estates offers a resident-use 9-hole golf course, indoor pool, spa, sauna, exercise room, clubhouse, library, game room, and craft room. Enjoy convenient access to shopping, dining, medical services, I-5, and Federal Way Downtown light rail. Don't miss the opportunity to enjoy fairway-side living with major upgrades already in place! Schedule your private showing today and discover what makes this home special!

2101 S 324th Street Unit #324, Federal Way

Listing Broker: Windermere RE South Sound, Inc; Petru Mihaluta; 425-505-0595; petru@windermere.com

31003 14th Avenue S Unit #G8, Federal Way
$174,990
1 Beds ⋅ 1 Baths ⋅ 2590803 MLS ⋅ ACTIVE Status
Stunning ground-floor, one-bedroom, one-bath remodel with beautiful lake views and abundant natural light. Open-concept living features new flooring, fresh paint, and a brand-new kitchen with quartz countertops and stainless-steel appliances. The beautifully updated bathroom showcases custom tile work, while a new ventless washer and dryer add everyday convenience. Acoustic insulation installed behind the walls helps reduce sound transfer for added comfort and privacy. Just steps from the clubhouse, fitness center, sauna, and outdoor pool, with easy access to freeways, shopping, and light rail station.

31003 14th Avenue S Unit #G8, Federal Way

Listing Broker: Dupont Realty & Property Mgmt; Stewart McCullum; 253-549-5323; stew9999@icloud.com

31227 7th Avenue S, Federal Way
$450,000
4 Beds ⋅ 3 Baths ⋅ 2581284 MLS ⋅ ACTIVE Status
Opportunity awaits in Federal Way! This charming 1.5-story home offers the perfect canvas to create a space that feels truly your own. Enjoy convenient main-level living and additional space upstairs to suit your needs. The detached two-car garage adds even more versatility, offering plenty of room for parking, storage, hobbies, a workshop, or everyday extras. With its unique layout and generous additional space, this home offers plenty of possibilities for someone ready to bring their vision and personal style to life. Conveniently located in Federal Way with easy access to shopping, dining, parks, schools, and major commuter routes. Come see the possibilities and imagine what you can create!

31227 7th Avenue S, Federal Way

Listing Broker: eXp Realty; Sujin Cha; 206-235-1996; sujin.cha@exprealty.com

4802 SW 317th Lane Unit #C, Federal Way
$359,950
3 Beds ⋅ 3 Baths ⋅ 2590450 MLS ⋅ ACTIVE Status
Don’t miss this beautifully updated home in SmokeTree! This spacious 3-bedroom townhome truly shines, offering a wonderful combination of stylish updates, privacy, and low-maintenance living. Tucked away at the back of the community, this home enjoys a lovely, private backyard area that does not back up to the street. Inside, you’ll find brand-new luxury vinyl plank flooring throughout the main level, stairs, upper hallway, and bathrooms, along with new carpet in all three bedrooms. The beautiful kitchen has been refreshed with brand-new stainless steel appliances, freshly painted cabinets, resurfaced counters, updated lighting, and a bright, modern feel that’s perfect for everyday living and entertaining. Additional features include fresh paint throughout the home and an attached one-car garage, plus convenient parking in front of the garage. Enjoy access to wonderful community amenities, including an outdoor pool and clubhouse, all surrounded by mature, beautifully established landscaping. The location is ideal, with shopping, dining, trails, and parks nearby, along with easy access to major routes and freeways. This is a fantastic opportunity to own an updated home in a desirable community while enjoying the convenience and ease of a low-maintenance lifestyle. The entire SmokeTree community is getting a fresh new look with exterior painting underway—and it’s looking amazing! Come see all that this special home has to offer!

4802 SW 317th Lane Unit #C, Federal Way

Listing Broker: RentLucky; Shelly Baehler; 206-713-9020; shelly@rentlucky.com

2101 S 324th Street Unit #19, Federal Way
$299,000
2 Beds ⋅ 2 Baths ⋅ 2589315 MLS ⋅ ACTIVE Status
Belmor Park is waiting for you! This beautifully maintained 55+ community features a 9-hole golf course, an indoor pool, dog park, and a small gym. This new home features a cozy, but open layout. There are 2 bedrooms, 2 bathrooms and a den you can turn into an office or another little living area. Do not miss out on this opportunity get a new home in this quiet community, well maintained community.

2101 S 324th Street Unit #19, Federal Way

Listing Broker: MLS4owners.com; Chris C. Nye; 253-460-1900; sales@mls4owners.com

2101 S 324th Street Unit #7, Federal Way
$325,000
3 Beds ⋅ 2 Baths ⋅ 2589237 MLS ⋅ ACTIVE Status
Brand new double-wide! Come join Belmor Park and the many amenities that it offers. This 3-bedroom 2-bathroom home features an open concept with a spacious kitchen with lots of cabinets space and an island for all your entertaining needs. After a long day, retire in your living room to watch tv in front of your built-in entertainment center or just have a nice drink by your electric fireplace. If you are a golfer, like to swim or just want to be close to the city, Belmor Park is the place for you.

2101 S 324th Street Unit #7, Federal Way

Listing Broker: MLS4owners.com; Chris C. Nye; 253-460-1900; sales@mls4owners.com

2101 S 324th Street Unit #188, Federal Way
$179,000
2 Beds ⋅ 2 Baths ⋅ 2589219 MLS ⋅ ACTIVE Status
If you are looking to downsize and want a singlewide, this 900 sq ft unit is for you. Retire in style and come enjoy the many benefits this community has to offer, like the golf course and indoor pool to name a few. The unit comes with a heat pump for those hot summer days and irrigation, so you don’t have to go out and water yourself. You don’t want to miss this great opportunity. This is a 55+ community, and local sales tax apply to all new home sales.

2101 S 324th Street Unit #188, Federal Way

Listing Broker: MLS4owners.com; Chris C. Nye; 253-460-1900; sales@mls4owners.com

431 S 325th Place Unit #W2, Federal Way
$225,000
2 Beds ⋅ 1 Baths ⋅ 2588298 MLS ⋅ ACTIVE Status
Main-floor, single-level renovated condominium offering privacy, comfort, and exceptional value. Ideal for first-time buyers or anyone looking to downsize. This move-in-ready home features a beautifully updated kitchen with quartz countertops, new stainless steel appliances, an undermount sink with pull-down faucet, pantry, and a convenient eating bar. Engineered hardwood floors run throughout, and fresh interior paint gives the home a bright, modern Northwest feel. Wood burning fireplace in a comfy living room with enough room for a full size sectional. The spacious primary bedroom includes a large walk-in closet, and the full-size in-unit washer and dryer add everyday convenience. Adjacent bedroom, and beautifully renovated main bathroom! Enjoy peaceful, tree-filled territorial views from your private patio. Community amenities include a pool, hot tub, and sport court. Conveniently located near the new Federal Way light rail station, with easy access to shopping, dining, and major commuting routes, this is an excellent opportunity for affordable home ownership in south King County. No work needed, just move in and relax. HOA covers Water, Sewer and Garbage. 1 reserved parking spot with lots of extra parking.

431 S 325th Place Unit #W2, Federal Way

Listing Broker: Keller Williams Realty PS; Anna McClusky; 206-659-8884; Anna@legacygroupnw.com

2101 S 324th Street Unit #189, Federal Way
$179,000
2 Beds ⋅ 2 Baths ⋅ 2589185 MLS ⋅ ACTIVE Status
If you are looking to downsize and want a singlewide, this 900 sq ft unit is for you. Retire in style and come enjoy the many benefits this community has to offer, like the golf course and indoor pool to name a few. The unit comes with a heat pump for those hot summer days and irrigation, so you don’t have to go out and water yourself. You don’t want to miss this great opportunity. This is a 55+ community, and local sales tax apply to all new home sales.

2101 S 324th Street Unit #189, Federal Way

Listing Broker: MLS4owners.com; Chris C. Nye; 253-460-1900; sales@mls4owners.com

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Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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