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Federal Way city, WA
ZIP 98003 — Economy & Jobs
Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.
Middle ClassLarge CommunityLow Snow Area
Income, employment, industries, and economic trends
Income & Economy in Federal Way city, WA (98003)
Median Income
$70,800
*Adjusted for inflation (2023 dollars)
IRS Net Migration
+2,804
Wealth inflow
Population
52,210
Unemployment
6.5%
2.8pp above US avg
IRS migration statistics show a net inflow of about 2,804 for ZIP 98003 (Federal Way city, WA) on US5’s published series — a signal of people/tax filers moving in relative to those leaving. Inflows often track job growth, housing demand, or lifestyle migration; treat the figure as a directional indicator rather than a precise headcount.
Historical Trends in 98003 (2020–Present)
Since 2020, population grew 5.6%, median income rose 1.0% (inflation-adjusted), home values increased 11.3%.
Economy & Jobs key statistics
| Income & Jobs | |
|---|---|
| Median household income | $70,800 |
| Unemployment | 6.5% |
| Establishments | 1,768 |
| Employees | 21,771 |