Home/Virginia/Covington city

Covington city Housing Market

Virginia · 133 counties · Ranked #70 in home value

Below National AvgAffordable

Housing at a Glance

Median Home Value

$80,200

vs national$80,200 vs $281,900 national

Median Gross Rent

$822/mo

vs national$822 vs $1,163 national

Effective Tax Rate

0.78%

vs national0.78% vs 1.02% national

Median Household Income

$42,724

vs national$42,724 vs $74,755 national

Affordability Ratio

1.9x

Home value ÷ income. <3 = affordable, >5 = expensive.

Rent Burden

28.0%

% of income spent on rent. >30% = burdened.

More Housing Data

Property Tax (Median)

$629

Tax as % of Home Value

0.78%

Monthly Owner Cost

$582

Renter Income

$28,274

Take Action

Property Tax

Lower Your Property Tax

Ownwell can help you appeal your property tax assessment. Average savings: $$94+/year.

Mortgage

Compare Mortgage Rates

See current mortgage rates from multiple lenders. Shop and compare to find your best rate.

Home Search

Browse Homes on Zillow

Search active listings in Covington city. See photos, prices, and open house dates.

Similar Counties by Home Value

Explore Related Data

Frequently Asked Questions

What is the median home value in Covington city?

The median home value in Covington city is $80,200. This is below the national median of $281,900.

How much is rent in Covington city?

The median gross rent in Covington city is $822 per month.

What is the property tax rate in Covington city?

The effective property tax rate in Covington city is 0.78%. The median annual property tax bill is $629.

Is Covington city affordable?

With a home-value-to-income ratio of 1.9x, Covington city is considered affordable compared to the recommended 3-4x guideline.

Data: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.