The W-7 asks you for your home address, but does not require that your home address be listed on your passport. You can simply fill in your home address on the W-7 form itself. You have the choice of mailing either the original passport, or a certified or notarized copy of your passport, to the IRS along with your application. 

Mailing my passport to the IRS

We are told by the IRS that the application process should take about 6 weeks, but you should ask the IRS if you have any further questions.