Twin Lakes home values
Twin Lakes at a glance
- Zillow’s Home Value Index puts the typical home at $602,400 (Aug 2026), −1.2% over the past 12 months and +10% over five years.
- The Census median home value is $545,600 — 12% above Federal Way overall and 60% above the U.S. median.
- Median household income is $101,960, so homes cost 5.4× local income.
- Median rent is $1,875/month (a 4.1% gross rental yield).
- These figures are for ZIP 98023, which Twin Lakes shares with Dash Point, Campus Drive.
Twin Lakes home value trend
Over the 12 months to Aug 2026, typical home values in Twin Lakes fell 1.2%, to about $602,400. That is 1.0 percentage points slower than Federal Way (−0.2%). Values are 4.0% below their peak of $627,700 in Feb 2025. Over five years the typical home gained $56,000 in value (+10%).
Year-by-year values
| Month | Typical value | Change vs year before |
|---|---|---|
| Aug 2026 | $602,400 | −1.2% |
| Aug 2025 | $609,700 | −0.4% |
| Aug 2024 | $612,100 | +3.6% |
| Aug 2023 | $590,800 | −4.0% |
| Aug 2022 | $615,400 | +12.6% |
| Aug 2021 | $546,400 | +25.3% |
| Aug 2020 | $436,200 | +10.4% |
| Aug 2019 | $395,200 | +1.9% |
| Aug 2018 | $387,900 | +10.6% |
| Aug 2017 | $350,800 | +12.0% |
| Aug 2016 | $313,200 | — |
Source: Zillow Home Value Index (ZHVI), typical value of mid-tier homes, smoothed & seasonally adjusted. Areas with several ZIPs: population-weighted.
Twin Lakes home value score
from local value, rent & income
In ZIP 98023, prices are high relative to rents (a low gross yield), and homes are expensive against local incomes.
How the Value Score is built
Computed figures
A transparent value snapshot — computed from U.S. Census ACS (2023) for this ZIP: home value, gross rent and household income. It is not a market-timing or appreciation forecast.
Twin Lakes vs Federal Way, Washington and the U.S.
| Twin Lakes | Federal Way | Washington | U.S. | |
|---|---|---|---|---|
| Typical value (Zillow, Aug 2026) | $602,400 | $579,800 | $733,800 | — |
| 1-year change | −1.2% | −0.2% | −1.3% | — |
| 5-year change | +10% | +12% | +8% | — |
| Median home value (Census) | $545,600 | $485,500 | $706,000 | $340,200 |
| Median household income | $101,960 | $86,000 | $107,100 | $78,500 |
| Median gross rent | $1,875/mo | $1,760/mo | $1,807/mo | $1,406/mo |
| Price-to-income ratio | 5.4× | 5.6× | 6.6× | 4.3× |
| Gross rental yield | 4.1% | 4.4% | 3.1% | 5.0% |
| Rent as share of income | 22% | 25% | 20% | 21% |
| Mortgage payment* | $2,759/mo | $2,455/mo | $3,570/mo | $1,720/mo |
Census figures: U.S. Census Bureau ACS 5-year estimates; areas spanning several ZIPs use population-weighted averages of ZIP medians, and city/state columns cover the ZIPs of the places listed on this site. Zillow: ZHVI. *Principal & interest on the Census median value, 20% down, 6.5% fixed, 30 years.
What it costs to buy a home in Twin Lakes
At today’s typical value of $602,400 (Zillow, Aug 2026), a buyer putting 20% down ($120,480) and financing the rest at 6.5% over 30 years would pay about $3,046 a month in principal and interest — 36% of the median household income here. That is above the common 28% guideline but under 36%, so budgets are stretched but workable for a median earner. The median rent is $1,875/month, so owning costs roughly 62% more per month than renting, before taxes, insurance and upkeep — the trade-off is building equity.
Estimate only: excludes property tax, insurance, HOA and PMI, which vary by property. Incomes and rents are the latest Census (ACS 2023) figures. Run your own numbers in the estimator below.
What this means for buyers, sellers and investors in Twin Lakes
Buyers
At 5.4× local income, prices are moderate — compare a few nearby areas before committing. Prices have eased 1.2% over the past year, which gives buyers more room to negotiate.
Sellers
Values are down 1.2% on the year, so price to today’s market rather than last year’s peak — and get a home-specific estimate: condition and size move the number more than the area average.
Investors
A gross rental yield of 4.1% is low — this is an appreciation play rather than a cash-flow market.
Other neighborhoods in Federal Way
| Name | Home value | 1-yr | Income | Rent | Price / income |
|---|---|---|---|---|---|
| Campus Drive ZIP 98023 · shared | $546K | −1.2% | $102K | $1,875 | 5.4× |
| Dash Point ZIP 98023 · shared | $546K | −1.2% | $102K | $1,875 | 5.4× |
| Downtown Federal Way city data | $429K | +0.7% | $71K | $1,650 | 6.1× |
| East Campus city data | $429K | +0.7% | $71K | $1,650 | 6.1× |
| Marine Hills ZIP 98063 · shared | — | — | — | — | — |
| Mirror Lake ZIP 98063 · shared | — | — | — | — | — |
| Redondo ZIP 98063 · shared | — | — | — | — | — |
| Steel Lake city data | $429K | +0.7% | $71K | $1,650 | 6.1× |
| Twin Lakes ZIP 98023 · shared | $546K | −1.2% | $102K | $1,875 | 5.4× |
| West Campus city data | $429K | +0.7% | $71K | $1,650 | 6.1× |
Home value, income and rent: Census ACS medians; 1-yr: Zillow ZHVI change over 12 months. Tap a column heading to sort.
Twin Lakes real estate FAQ
Are home prices going up in Twin Lakes?
What is the typical home value in Twin Lakes?
Is Twin Lakes affordable?
How much is rent in Twin Lakes?
Is Twin Lakes good for rental property investment?
What’s your Twin Lakes home worth?
Estimates are informational only and are not an appraisal.
About this data
Data last updated: September 2026.
Current values and trends use the Zillow Home Value Index (ZHVI) — the typical value of mid-tier homes, smoothed and seasonally adjusted — through Aug 2026. It is refreshed monthly.
Median values, incomes, rents, housing stock and commutes come from the U.S. Census Bureau’s American Community Survey (ACS) 5-year estimates at ZIP Code Tabulation Area level. City and state figures are population-weighted averages of their ZIPs.
The Value Score (0–10) blends gross rental yield and price-to-income affordability. It is a value snapshot, not a forecast.
Mortgage figures assume 20% down and a 6.5% fixed 30-year loan, principal and interest only.
These are area-level statistics, not an appraisal of any individual property, and not financial advice.
Sources: U.S. Census ACS · Zillow ZHVI.