In Covington, a typical home is worth $301,900 and typical rent is $1,191 a month. Compared with all of Newton County, typical household income is 24% lower, typical rent is 17% lower, and the share of households that own their home is 25 points lower.
Typical home value from Zillow, September 2021 to September 2026: from $245,455 to $292,894.
Typical rent
$1,839a month
▲ 1.8% more than 12 months ago
Typical rent from Zillow, September 2021 to September 2026: from $1,570 to $1,839.
From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).
Covington is in Newton County. The FHA loan limit ($718,750 for a one-unit home), the fair market rents and the help on this page are those of all of Newton County. See the county
What this place has that others do not, from public data, most unusual first.
1
49% of households in Covington own their home, against 74% in Newton County.
2
Nearby, in Stonecrest, the typical home value is $243,500: 19% less than in Covington ($301,900).
3
The typical household income in Covington is $58,810,24% less than in Newton County as a whole ($77,179).
4
The typical rent in Covington is $1,191 a month, 17% less than in Newton County as a whole ($1,439).
Sources: U.S. Census Bureau (Average 2020–2024).
The homes here
Housing in Covington
What homes there are in Covington, what they cost, how that changed and how people live, from Census figures (2020–2024).
What homes there are
U.S. Census Bureau, ACS 5-year, 2020–2024
Kind of home
Detached houseAttached houseBuilding of 2 to 4Apartments (5 or more)Mobile homeBoat, RV and otherUnreliable estimate
Covington
Newton County
Georgia
United States
Kind of home: Covington and its comparisons
Measure
Covington
Newton County
Georgia
United States
Detached house
71%
86%
66%
61%
Attached house
Unreliable estimate
2%
4%
6%
Building of 2 to 4
8%
3%
5%
8%
Apartments (5 or more)
Unreliable estimate
6%
16%
19%
Mobile home
Unreliable estimate
3%
8%
6%
Boat, RV and other
Unreliable estimate
Unreliable estimate
0%
0%
In Covington, 7 in 10 homes are single-family detached houses; in Newton County, 9.
Year built
Before 19601960–19791980–19992000–20092010 or later
Covington
Newton County
Georgia
United States
Year built: Covington and its comparisons
Measure
Covington
Newton County
Georgia
United States
Before 1960
15%
7%
12%
26%
1960–1979
25%
14%
20%
24%
1980–1999
17%
33%
33%
25%
2000–2009
30%
33%
21%
14%
2010 or later
14%
14%
14%
11%
Homes in Covington are smaller: 57% have 3 bedrooms or more; in Newton County, 82%.
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Unreliable estimate
Under $100KUnreliable
$100K–$200K20%
$200K–$300K22%
$300K–$500K39%
$500K–$750K11%
$750K–$1MUnreliable
$1M or moreUnreliable
Value of owner-occupied homes: Covington and its comparisons
Measure
Covington
Under $100K
Unreliable estimate
$100K–$200K
20%
$200K–$300K
22%
$300K–$500K
39%
$500K–$750K
11%
$750K–$1M
Unreliable estimate
$1M or more
Unreliable
Monthly rent with utilities
Unreliable estimate
Under $500Unreliable
$500–$99915%
$1,000–$1,49956%
$1,500–$1,999Unreliable
$2,000–$2,499Unreliable
$2,500–$2,999Unreliable
$3,000 or moreUnreliable
Monthly rent with utilities: Covington and its comparisons
Measure
Covington
Under $500
Unreliable estimate
$500–$999
15%
$1,000–$1,499
56%
$1,500–$1,999
Unreliable estimate
$2,000–$2,499
Unreliable estimate
$2,500–$2,999
Unreliable
$3,000 or more
Unreliable
With a mortgage
$1,887 a month
Newton County: $1,594 a month
Without a mortgage
$518 a month
Newton County: $524 a month
Owners with a mortgage
73%
Newton County: 73%
Owning costs more in Covington: with a mortgage, the typical cost is $1,887 a month; in Newton County, $1,594. Without one, $518.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
Covington+76%
Newton County+75%
Georgia+72%
United States+53%
Typical rent
Covington+36%
Newton County+43%
Georgia+39%
United States+33%
Typical household income
Covington+48%
Newton County+37%
Georgia+32%
United States+29%
Change since 2015–2019: Covington and its comparisons
Measure
Covington
Newton County
Georgia
United States
Typical home value
+76%
+75%
+72%
+53%
Typical rent
+36%
+43%
+39%
+33%
Typical household income
+48%
+37%
+32%
+29%
From 2015–2019 to 2020–2024, home values in Covington rose at about the same pace as in Newton County: 76% against 75%.
Rents in Covington rose more slowly than in Newton County: 36% since 2015–2019, against 43%.
To compare: typical income in Covington rose 48%; the home, +76%; the rent, +36%.
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Covington and its comparisons
Measure
Covington
Newton County
Georgia
United States
Rental vacancy
Unreliable estimate
4.2%
6.8%
5.5%
Homeowner vacancy
5.9%
1.7%
1.1%
0.9%
More than one person per room
Unreliable estimate
1.3%
2.4%
3.4%
People per household
2.45
2.83
2.62
2.53
Drive alone
72%
75%
71%
69%
Carpool
7%
9%
9%
9%
Public transit
Unreliable estimate
Unreliable estimate
1%
3%
Walk or bike
Unreliable estimate
1%
1%
3%
Work from home
16%
12%
16%
15%
Other means
Unreliable estimate
2%
2%
2%
Typical commute
Unreliable estimate
Unreliable estimate
20 to 29 minutes
20 to 29 minutes
Fewer people live in each home here: 2.45 on average, against 2.83 in Newton County.
Many people here do not commute at all: 16% work from home; in Newton County, 12%.
Do the math
What would you pay each month for a home in Covington?
A typical home costs more than the typical income allows
We start with a typical home in Covington, worth $301,900, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 51% of the typical household income in Covington, which is $58,810 a year. For that payment to be 28% of income, a household would need to earn about $106,234 a year.
The calculator's FHA and conventional loan limits are those of all of Newton County.
Change the price, the down payment or the loan: the payment updates right away.
Your numbers
Local data
$
Starts at the typical home value in Covington. Change it to the price you have in mind.
Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.
Down payment
%
That is $10,567 (3.5% of the price). The usual minimum for this loan is 3.5%.
This week's average ± a quarter or half point.
National average as of November 5, 2026 (Freddie Mac); your rate may be different.
Adjust advanced details⌄
Estimated monthly payment
Local data
$2,479
at 7.18% · 30 years
Loan amount
$296,431
Total interest
$426,495
Paid off in
November 2056
Includes $5,098 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $1,372 a month
Tight
$1,372 to $1,764 a month
Hard
more than $1,764 a month
Your payment · 51%
Compared with the typical household income in Covington ($58,810 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$2,008
Property tax
$211
Home insurance
$126
FHA mortgage insurance (MIP)
$134
You need at least $10,567 for the down payment, plus closing costs.
This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.
Total monthly payment $2,479; principal and interest $2,008.
The city and its county
Covington and Newton County
Covington is in Newton County, Georgia. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).
Covington
Map of Newton County, Georgia, with Covington marked. Around it, the neighboring counties.
Covington
Newton County
Other cities with a page
Covington's own numbers
Typical home value
$301,900
Typical monthly rent
$1,191
Typical yearly household income
$58,810
Households that own their home
49%
Effective property tax rate
0.84%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of Newton County
FHA limit, one-unit home
$718,750
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,762
Price change over 5 years (FHFA)
+62%
Homes in a high flood-risk zone
0.4%
HUD, FHFA and FEMA don't publish these numbers by city.
Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Newton County.
A typical home in Covington is worth $301,900: 14% above the county and about the same as Georgia. With the typical household income in Covington ($58,810 a year), a typical home costs 5.1 times what the household earns in a year.
Years of income to pay for a typical home
The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.
Covington5.1 years
Newton3.4 years
Georgia3.9 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in Newton County
According to FHFA’s house price index, home prices in Newton County rose 131% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of Newton County.
Yearly change in FHFA’s price index in Newton County, 2016 to 2025
2016: +4.7% +4.7% 2016
2017: +9.0% +9.0% 2017
2018: +8.2% +8.2% 2018
2019: +9.8% +9.8% 2019
2020: +4.7% +4.7% 2020
2021: +15.4% +15.4% 2021
2022: +27.6% +27.6% 2022
2023: +6.7% +6.7% 2023
2024: +3.0% +3.0% 2024
2025: +0.3% +0.3% 2025
Change in FHFA’s price index in Newton County, Georgia and the United States
Period
County
Georgia
U.S.
Last year (2025)
+0.3%
+2.2%
+2.9%
5 years (2020–2025)
+62%
+58%
+47%
10 years (2015–2025)
+131%
+110%
+85%
The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data
Covington next to Newton County, Georgia and the U.S.
Three numbers side by side. “Typical” means the median: half are above it and half below.
Typical home value
Covington$301,900
Newton$265,000
Georgia$303,300
United States$332,700
Typical monthly rent
Covington$1,191
Newton$1,439
Georgia$1,393
United States$1,413
Typical yearly household income
Covington$58,810
Newton$77,179
Georgia$77,353
United States$80,734
See the full table
Covington next to Newton County and Georgia
Measure
Covington
Newton County
Georgia
U.S.
Typical home value
$301,900 ▲14% above the county
$265,000
$303,300
$332,700
Typical monthly rent
$1,191 ▼17% below the county
$1,439
$1,393
$1,413
Typical yearly household income
$58,810 ▼24% below the county
$77,179
$77,353
$80,734
Households that own their home
49% ▼25 points below the county
74%
66%
65%
Typical yearly property tax
$2,549 ▲9% above the county
$2,348
$2,341
$3,119
Effective property tax rate
0.84% ▼0.05 points below the county
0.89%
0.77%
0.94%
Renters with high rent for their income
61% ▲6 points above the county
56%
52%
51%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Newton County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.
Four ways to pay for a typical home in Covington
For a typical $301,900 home in Covington, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Covington's typical property tax, an example home insurance and mortgage insurance when it applies.
FHA, 3.5% down$2,479a month
Least cash to close
Down payment
$10,567
Cash to close
$19,624
Rate
7.18%
Mortgage insurance
FHA MIP · $134
Conventional, 5% down$2,423a month
Down payment
$15,095
Cash to close
$24,152
Rate
7.18%
Mortgage insurance
PMI · $143
Conventional, 20% down, no PMI$1,973a month
Down payment
$60,380
Cash to close
$69,437
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$2,252a month
Down payment
$45,285
Cash to close
$54,342
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in Covington
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Least cash to close
$2,479
$10,567
$296,432
7.18%
FHA MIP · $134
$19,624
580
Conventional, 5% down
$2,423
$15,095
$286,805
7.18%
PMI · $143
$24,152
620*
Conventional, 20% down, no PMI
$1,973
$60,380
$241,520
7.18%
None
$69,437
620*
ITIN, 15% down (example)
$2,252
$45,285
$256,615
8.18%
None
$54,342
Set by the lender
The option that asks for the least cash to close is FHA, 3.5% down.
Cash to close = down payment plus 3% of the price in closing costs (example).
Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.
Typical rent in Covington is $1,191 a month: 17% below the county. In Covington, 61% of renter households pay 30% or more of their income in rent.
HUD publishes a fair market rent for all of Newton County, by unit size. To pay the 2-bedroom one ($1,762 a month) without spending more than 30% of your income, you would need to earn $33.88 an hour working full time.
What you need to earn to pay it without spending more than 30% of income, working full time.
HUD fair market rent in Newton County (Fiscal year 2027)
Size
Fair rent a month
Hourly wage
Yearly income
Studio
$1,554
$29.88
$62,160
1 bedroom
$1,619
$31.13
$64,760
2 bedrooms
$1,762
$33.88
$70,480
3 bedrooms
$2,099
$40.37
$83,960
4 bedrooms
$2,493
$47.94
$99,720
Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027
By ZIP code
Fair market rent by ZIP code in Covington
HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Covington is in ZIP code 30014.
For 2 bedrooms it is $1,360: $402 less than the fair market rent for Newton County ($1,762).
Fair market rent by ZIP code and size in Covington, fiscal year 2027.
ZIP code
Studio
1 bd
2 bd
3 bd
4 bd
30014
$1,200
$1,250
$1,360
$1,620
$1,920
ZIP code2 bd3 bd
30014 $1,360$1,620
1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Covington when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD)Fiscal year 2027Small Area Fair Market Rents (HUD) (external site)Source: Census Bureau ZCTA-to-place relationship fileData from 2020 dataCensus Bureau ZCTA-to-place relationship file (external site)
You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.
We found no HUD-approved agencies with an office in Newton County. The nearest ones are below; many serve by phone or online.
No down payment, repair or rent-help program on our list is for Covington or Newton County. The ones below are statewide in Georgia: they work in Covington the same as in the rest of the state.
Georgia state program for first-time buyers: a mortgage with down payment assistance of up to 5% of the price or $10,000, as a 0% second mortgage with no monthly payments.Offered by Georgia Department of Community Affairs.
FHA or VA mortgage from the Georgia Dream program with down payment assistance of 3.5% of the price (up to $10,000), or 4% (up to $12,500) for police officers, educators, health care workers, military members or families with a person with a disability; no first-time buyer requirement.Offered by Georgia Department of Community Affairs.
No legal help resource on our list is for Covington or Newton County in particular.
If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.
Short answers with the numbers for Covington and all of Newton County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.
How much does a typical home cost in Covington?
The typical home value in Covington is $301,900, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Newton County it is $265,000.
How much does it cost to rent in Covington?
Typical rent in Covington is $1,191 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Newton County is $1,762.
What is the FHA loan limit in Covington?
Covington uses the FHA limit for all of Newton County (2026): $718,750 for a one-unit home and $1,382,250 for a four-unit home.
How much property tax do owners pay in Covington?
The typical homeowner in Covington pays $2,549 a year, according to the U.S. Census Bureau. That is 0.84% of the home’s value; in Newton County, the rate is 0.89%.
Where can I find free help to buy or rent in Covington?
We found no HUD-approved counseling agencies with an office in Newton County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.
