The Most Affordable Neighborhoods in Covington City, VA by Home Value

These days, finding an affordable place to live in the Covington City area can be challenging. Home prices in Covington City are now at a median cost of $80,563, lower than the Virginia average of $443,089.

The average cost of rent is $789/mo in Covington City, primarily driven by the current value of real estate in the Covington City area. In Covington City, 29.89% of households rent, and 56.85% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Covington City is $3,570 per month. Households that rent pay about 22.11% of their income on rent here. Covington City’s most expensive areas are in the southeastern regions, while the cheapest areas are in the northwestern parts of the county.

Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.

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