The Most Affordable Neighborhoods in Covington, NC by Home Value

These days, finding an affordable place to live in the Covington area can be challenging. Home prices in Covington are now at a median cost of $139,265, lower than the North Carolina average of $323,314.

The average cost of rent is $928/mo in Covington, primarily driven by the current value of real estate in the Covington area. In Covington, 24.27% of households rent, and 55.72% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Covington is $5,399 per month. Households that rent pay about 17.19% of their income on rent here. Covington’s most expensive areas are in the central regions, while the cheapest areas are in the northwestern parts of the city.

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

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