5+ Days Ago
Highlights
- Dishwasher
- Washer & dryer
- Professionally managed
- Fireplace
- New appliances
- Energy efficiency
Location
2201 S 312th St, Federal Way, WA 98003, USA
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Property Overview
Steel Lake Plaza offers strong overall value, with excellent pricing, a high standard of amenities, and a convenient location near top-rated schools. Renters can expect features like in-home laundry, a dishwasher, new energy-efficient appliances, and a fireplace, all under professional management with a transparent, trustworthy listing. Its value per square foot compares favorably to most properties in the area, making it a compelling option to consider.
This summary uses Zumper’s proprietary data. “Zumper Expert Ratings” and “Things you’ll love” are based on our internal analyses of market trends and renter insights.
Things you’ll love
High school nearby- Elementary school nearby
Floor plans
| 258 1x1T RENO | 1 bed | 1.5 bath | 725 sqft | $1,799 /mo | 1 unit available | ||
| 258 2X1.5B RENO | 2 bed | 1.5 bath | 874 sqft | $1,975 /mo | 1 unit available |
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Policies and fees
Applicants
Applicants
One-time.
Contact Property
REQUIRED FEES
Security Deposit
One-time. Refundable.
Contact Property
Dog Policy
Not allowed
Cat Policy
Not allowed
No pets allowed.
Questions about this property’s policies and fees?
Building details
Property details
| Units | 54 |
|---|
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About Steel Lake Plaza
Thanks for checking out Steel Lake Plaza Apartments. We are a locally owned and professionally managed community in Federal Way, WA. Whether you want to walk over to Steel Lake Park, the Transit Center, or to the Commons Mall, everything is close and convenient to Steel Lake Plaza Apartment Homes. We offer large one- and two-bedroom apartment homes with a washer & dryer in each home. Our two-bedroom floorplan offers a fireplace and an additional half-bathroom. All homes have a patio/balcony with extra storage and include one assigned parking space in the rent. We have a great play area and are directly on a bus-line for schools and public transportation. All apartment homes have been updated with new appliances, a dishwasher and forced air heat for energy efficiency. Not to mention we're two minutes away from two I-5 on-ramps, talk about a quick commute! Come Live at Steel Lake Plaza and enjoy all that Federal Way has to offer at your fingertips!
Zumper Expert Rating
Our expert rating is based on a weighted average score of property attributes that renters care about most: price, amenities, location, quality, and trust.
8.1
/10
Very GoodWith a solid 8.1 out of 10 overall, Steel Lake Plaza is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, Steel Lake Plaza has a number of attractive features—namely its Price— so you can be assured your rent will come with a high standard of living.
Price·9A score that weighs the cost and location of the property, which we calculate by comparing rent prices of recent units to the median price of nearby rentals, adjusting for overall quality and features.
Steel Lake Plaza stands out with a remarkable rating of 9/10 for its cost per bedroom compared to other rentals in the area. Considering the excellent balance between price, convenience, and comfort that it provides, residents enjoy a high-quality living experience.
Amenities·8A score based on the amenities offered at this property compared to other rentals in the area. We consider the quantity, quality, and popularity of features both on site and within the units.
With multiple in-demand amenities, Steel Lake Plaza is committed to enhancing the renting experience. And while it may have fewer total conveniences and features than similar rentals nearby, it remains a top choice for renters wanting an specific standard of living.
Location·9A score based on proximity and ease of access to shops, restaurants, schools, and public transportation while considering the desirability of the area.
Steel Lake Plaza is exceptional when it comes to location and conveniences. Communication with management or leasing staff is usually quick and easy and they often use advanced scheduling and communication tools to streamline the process. The location of this property offers easy access to popular points of interest in the area and options for getting around.
Quality·6A score based on what makes the property stand out, such as luxury features, unique offerings, age of the building, and our ability to verify the accuracy of these details.
While Steel Lake Plaza does not have many hallmark characteristics to highlight, it has some qualities and features that will resonate with a broad range of renters.
Trustworthiness·8A score based on the accuracy, completeness, recency, and usefulness of the information provided by this property, so you can trust that what you see is what you get.
The level of transparency this property provides distinguishes it as a great rental. With a high attention to detail and desirable features, renters can be sure they will get an accurate picture of their potential new home.
Reviews from the web
Showing 8 highest rated
Marilyn, the community manager, is absolutely amazing! She made our move in and applying process so easy. So refreshing to see someone who is a kindhearted person, especially these days. Thank you very much, Marilyn - on behalf our entire family!
Vladi Sevoyan
Nov 06, 2022
She’s very nice! She’s a good Manager
Sukh money
Aug 23, 2024
We’re sharing just 8 of many, sorted highest to lowest. Visit the Google business profile to view all reviews.
Property highlights
We compared every listing in the surrounding area to determine which amenities are most common. If a building lacks an amenity that most others in the area have, it is a con. If a building has an amenity most others in the area do not, it is a pro. Similarly, price, schools, and size are calculated relative to the size, price, and distance to schools of the other properties nearby.How Steel Lake Plaza compares to other nearby properties.
Positives
- High school nearby
- There is a high school 0.4 mile away
- Elementary school nearby
- There is an elementary school 0.4 mile away
Considerations
- Greater distance from middle schools
- The nearest middle school is farther than 1 mile away
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Rent trends in Federal Way
1-bedroom apartments here are priced 19% higher than 1-bedrooms in Federal Way.
If you decide to upgrade your space, you can expect 2-bedrooms at Steel Lake Plaza to be 10% more than the average for similarly sized apartments in Federal Way.
Median rents as of Apr 18 2026.
Federal Way
| Month | Median Rent |
|---|---|
| May 2024 | $1,325 |
| June 2024 | $1,374 |
| July 2024 | $1,278 |
| August 2024 | $1,196 |
| September 2024 | $1,163 |
| October 2024 | $1,066 |
| November 2024 | $1,066 |
| December 2024 | $1,066 |
| January 2025 | $1,066 |
| February 2025 | $1,066 |
| March 2025 | $1,066 |
| June 2025 | $1,198 |
| July 2025 | $1,198 |
| August 2025 | $1,198 |
| September 2025 | $937 |
| October 2025 | $695 |
| November 2025 | $1,064 |
| December 2025 | $695 |
| January 2026 | $1,019 |
| February 2026 | $1,367 |
| March 2026 | $1,367 |
| April 2026 | $1,311 |
Affordability calculator
Can I afford to live at 2201 S 312th St?
Bedrooms
Rent-to-income ratio
30%
Slide to adjust the percentage of your monthly income you are willing to spend on rent.
The general rule of thumb is to spend around 30% or less of your income on rent.
Recommended income
$71,960/yr
With your selected rent-to-income ratio, you'd ideally want to make $71,960 annually to afford this 1-bedroom monthly rent price of $1,799.
For more information on rent affordability, visit our rent calculator.
Schools near Steel Lake Plaza
Internet Academy
31455 28th ave s
federal way, WA, 98003
PK, K-12Public
B
Mirror Lake Elementary School
625 s 314th st
federal way, WA, 98003
PK, K-5Public
C+
Federal Way Public School ECEAP
33330 8th ave s
federal way, WA, 98003
PKPublic
Support School
33330 8th ave s
federal way, WA, 98003
PK, K-12Public
River Ridge Elementary
22420 military rd s
seatac, WA, 98198
PK, K-6Public
C
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Neighborhood
Getting around Federal Way near 2201 S 312th St
Walking
6/10
Grab your reusable bags–many shops and stores are within walking distance.
Driving
10/10
Commuting is easy with multiple accessible routes and plenty of parking.
Cycling
5/10
More spots are within biking distance and some roads are cyclist-friendly.
Transit
4/10
Frequent public transit options are within walking distance.
Points of interest for 2201 S 312th St, Federal Way
Groceries
7/10
At least one supermarket within a 15-minute walk
Shopping
7/10
Several shops within a few minutes’ walk
Cafes
5/10
Some cafés within a few minutes’ walk
Restaurants
6/10
Some restaurants within a few minutes’ walk
Primary schools
8/10
At least one elementary school within a 15-minute walk
High schools
8/10
At least one high school within a 15-minute walk
Parks
8/10
Very large amount of park space within a few minutes' walk
Nightlife
3/10
Some bars within walking distance
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