Cove Point renters looking for the least expensive areas to rent should look for the areas towards the red end of the spectrum on the rent cost map. Those who don't mind paying for high-end and luxury apartments should seek out apartments in dark green areas.
On average, the cost of rent in Cove Point is about $1,554 per month. This puts it in the 61st percentile compared to the state average cost of rent, which is $1,646. Households in Cove Point have a median income of $9,662 per month so the average renter in Cove Point is spending roughly 16% of their earnings on housing.
Nationally, and in Cove Point, home values are the data point most closely correlated with the cost of rent. The median price of a home in Cove Point is $326,500 right now, which is lower than nearby cities, meaning that rents in Cove Point also tend to be lower versus these nearby cities.
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