The downtown analysis is comprised of three reports:
Market Overview: Downtown Federal Way
Conditions and Considerations: Infrastructure and Services
Potential Opportunities: Downtown Federal Way
This report, “Potential Opportunities: Downtown Federal Way,” highlights the diligent work that has been achieved in downtown since cityhood.
Such work includes the adoption of city codes that foster a pedestrian oriented environment and attractive business signage.
Additionally, place-making projects such as the recently completed Town Square Park, the new Performing Arts and Event Center and the soon to be completed Town Center Steps showcase the City’s dedication to downtown revitalization.
Each effort and project builds upon the next and focuses on presenting a more vibrant and exciting downtown. This report also provides a perspective on the investment opportunities from the individual sectors to potential site locations for development.
Combined, this analysis provides a wide array of information for business owners, property owners, developers and investors. It also provides insight for a broad audience of local residents and those curious about downtown Federal Way, its growth and future potential.
FEDERAL WAY GREATER TRADE MARKET AREA 2019
Number of Households: 89,5433
Persons per Household: 2.68
Median Household Income: $74,301
Median Age: 37.6
FEDERAL WAY GREATER TRADE MARKET AREA Estimate 2024
Number of Households: 94,578
Persons per Household: 2.70
Median Household Income: $86,919
Median Age: 38.3