Federal Way, Washington Income Statistics
Federal Way Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
-
B
Federal Way Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Federal Way | Washington Avg | US Average |
|---|---|---|---|
| Median Household Income | $88,690 | $98,224 | $80,455 |
| Median Personal Income | $59,723 | $73,370 | $60,758 |
| Average Yearly Income Growth | 5.1% | 5.6% | 4.8% |
| Six-Figure Earners | 13.1% | 19.3% | 13.9% |
| $200k+ Households | 13.4% | 18.5% | 13.2% |
The median household income in Federal Way is about 10% lower than in Washington. Income has been growing slower in Federal Way (5.1%/yr) than in Washington (5.6%/yr).
About 13% of adults in Federal Way earn six figures ($100,000 or more) a year, lower than the Washington average of 19%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Federal Way, Washington grew by 53.2% from 2009 to 2024, reaching $88,690 in 2024. That's an average of about 5.1% per year.
Income Inequality and the Gender Pay Gap in Federal Way
| Metric | Federal Way | Washington Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.537 | 0.534 | 0.552 |
| Male Median Income | $65,505 | $86,137 | $69,667 |
| Female Median Income | $61,734 | $68,506 | $56,850 |
| Gender Pay Gap | 5.8% | 20.5% | 18.4% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Federal Way, it is 0.537, about the same as Washington's 0.534, so income here is about as evenly distributed as there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 6% more than women's income in Federal Way, Washington. Over a 35-year career, a 6% wage gap accumulates to roughly $131,985 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Federal Way, Washington has narrowed from about 27% to 6% in 2024. Over that period the gap was widest at 28% in 2010. In dollar terms, the gap has narrowed by $10,632 since 2009.
Employment
| Metric | Federal Way | Washington Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.3% | 5.0% | 5.2% |
| Working from Home | 13.9% | 19.8% | 15.0% |
| Commute time (minutes) | 30 | 22 | 22 |
Approximately 2,819 people are unemployed in Federal Way, Washington.
The average commute time in Federal Way is 30 minutes, longer than the 22 minutes in Washington.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Federal Way, Washington has fallen from 9.4% to 5.3% in 2024. Over that period the rate peaked at 10.0% in 2013 and fell as low as 4.9% in 2020.
Conclusion
Considering all these factors, Federal Way, Washington has an overall wealth index grade of B, making it about on par with Washington, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Federal Way, Washington.
How Rich Is Federal Way, Washington?
Federal Way has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $88,690, about 10% lower than the Washington average of $98,224.
Are incomes growing in Federal Way, Washington?
Between 2009 and 2024, the median household income in Federal Way, Washington rose 53%, from $57,894 to $88,690. Over the same years, income here lagged behind Washington as a whole: +53% against +73%.
What was the median household income in Federal Way in 2023?
In 2023, the median household income in Federal Way, Washington was $84,661, up 4% from $81,054 in 2022. The Washington median that year was $95,216.
What was the median household income in Federal Way in 2020?
In 2020, the median household income in Federal Way, Washington was $70,056. By 2024 it had risen 27% to $88,690.
What is the Gini coefficient in Federal Way, Washington?
The Gini coefficient in Federal Way is 0.537. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Federal Way, Washington?
Since 2009, the income gap between men and women in Federal Way, Washington has narrowed from about 27% to 6% in 2024. Over that period the gap was widest at 28% in 2010. In dollar terms, the gap has narrowed by $10,632 since 2009.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →