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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 $230,741, lower than the Tennessee average of $315,131.
The average cost of rent is $858/mo in Covington, primarily driven by the current value of real estate in the Covington area. In Covington, 38.17% of households rent, and 51.62% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Covington is $5,368 per month. Households that rent pay about 15.98% of their income on rent here. Covington’s most expensive areas are in the southern regions, while the cheapest areas are in the northern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Solo, TN: higher priced homes
- Tabernacle, TN: equally priced homes
- Garland, TN: less expensive homes
- Rialto, TN: less expensive homes
- Brighton, TN: equally priced homes
- Clopton, TN: equally priced homes
- Burlison, TN: less expensive homes
- Henning, TN: less expensive homes
- Gilt Edge, TN: less expensive homes
- Mason, TN: less expensive homes
Cities with Similar Populations
- Zapata, TX: less expensive homes
- Robinson, TX: higher priced homes
- Benton, LA: higher priced homes
- Robertsdale, AL: higher priced homes
- Bennington, VT: equally priced homes
- Bay Minette, AL: equally priced homes
- Batesville, MS: less expensive homes
- Winfield, IL: higher priced homes
- Bangor, PA: higher priced homes
- Ball Ground, GA: higher priced homes
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