In Covington, a typical home is worth $187,300 and typical rent is $1,006 a month. Compared with all of Kenton County, typical household income is 24% lower, the typical home value is 23% lower, and the share of households that own their home is 19 points lower.
Typical home value from Zillow, September 2021 to September 2026: from $172,222 to $217,214.
Typical rent
$1,513a month
▲ 5.8% more than 12 months ago
Typical rent from Zillow, September 2021 to September 2026: from $1,121 to $1,513.
From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).
Covington is in Kenton County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Kenton County. See the county
What this place has that others do not, from public data, most unusual first.
1
52% of households in Covington own their home, against 71% in Kenton County.
2
The typical household income in Covington is $61,166,24% less than in Kenton County as a whole ($80,548).
3
The typical home in Covington is worth $187,300,23% less than in Kenton County as a whole ($244,400).
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
Kenton County
Kentucky
United States
Kind of home: Covington and its comparisons
Measure
Covington
Kenton County
Kentucky
United States
Detached house
54%
68%
68%
61%
Attached house
4%
4%
3%
6%
Building of 2 to 4
17%
9%
7%
8%
Apartments (5 or more)
24%
17%
12%
19%
Mobile home
Unreliable estimate
2%
11%
6%
Boat, RV and other
Unreliable estimate
Unreliable estimate
0%
0%
In Covington, 5 in 10 homes are single-family detached houses; in Kenton County, 7.
Year built
Before 19601960–19791980–19992000–20092010 or later
Covington
Kenton County
Kentucky
United States
Year built: Covington and its comparisons
Measure
Covington
Kenton County
Kentucky
United States
Before 1960
60%
34%
22%
26%
1960–1979
15%
24%
26%
24%
1980–1999
12%
22%
28%
25%
2000–2009
5%
11%
15%
14%
2010 or later
8%
9%
11%
11%
Homes in Covington are older: the typical year built is 1947; in Kenton County, 1974.
In Covington, 28% of homes have 1 bedroom or none (studios); 37% have 3 bedrooms or more, against 61% in Kenton County.
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Under the limitOver the limitUnreliable estimate
Under $100K16%
$100K–$200K38%
$200K–$300K27%
$300K–$500K12%
$500K–$750K3%
FHA limit: $541,287
$750K–$1MUnreliable
$1M or moreUnreliable
Value of owner-occupied homes: Covington and its comparisons
Measure
Covington
Under $100K
16%
$100K–$200K
38%
$200K–$300K
27%
$300K–$500K
12%
$500K–$750K
3%
$750K–$1M
Unreliable estimate
$1M or more
Unreliable estimate
By price, most homes in Covington sit under the FHA limit for Kenton County ($541,287): about 93%.
Monthly rent with utilities
Under the limitOver the limitUnreliable estimate
Under $50014%
$500–$99935%
$1,000–$1,49929%
HUD fair market rent, 2 bedrooms: $1,442
$1,500–$1,99914%
$2,000–$2,4994%
$2,500–$2,999Unreliable
$3,000 or moreUnreliable
Monthly rent with utilities: Covington and its comparisons
Measure
Covington
Under $500
14%
$500–$999
35%
$1,000–$1,499
29%
$1,500–$1,999
14%
$2,000–$2,499
4%
$2,500–$2,999
Unreliable estimate
$3,000 or more
Unreliable estimate
HUD's 2-bedroom fair market rent (FMR) for Kenton County is $1,442; about 75% of rents in Covington are below it.
With a mortgage
$1,404 a month
Kenton County: $1,584 a month
Without a mortgage
$527 a month
Kenton County: $580 a month
Owners with a mortgage
68%
Kenton County: 68%
The typical cost for an owner with a mortgage in Covington is $1,404 a month, less than in Kenton County ($1,584); without one, $527.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
Covington+68%
Kenton County+52%
Kentucky+46%
United States+53%
Typical rent
Covington+41%
Kenton County+32%
Kentucky+27%
United States+33%
Typical household income
Covington+41%
Kenton County+25%
Kentucky+26%
United States+29%
Change since 2015–2019: Covington and its comparisons
Measure
Covington
Kenton County
Kentucky
United States
Typical home value
+68%
+52%
+46%
+53%
Typical rent
+41%
+32%
+27%
+33%
Typical household income
+41%
+25%
+26%
+29%
The typical home value in Covington rose 68% since 2015–2019, more than in Kenton County (52%).
Rents in Covington rose faster than in Kenton County: 41% since 2015–2019, against 32%.
To compare: typical income in Covington rose 41%; the home, +68%; the rent, +41%.
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Covington and its comparisons
Measure
Covington
Kenton County
Kentucky
United States
Rental vacancy
4.9%
6.3%
4.6%
5.5%
Homeowner vacancy
3.1%
1.4%
0.9%
0.9%
More than one person per room
2.7%
2.1%
2.0%
3.4%
People per household
2.21
2.52
2.43
2.53
Drive alone
72%
75%
77%
69%
Carpool
6%
7%
9%
9%
Public transit
3%
1%
1%
3%
Walk or bike
4%
1%
2%
3%
Work from home
14%
14%
10%
15%
Other means
2%
2%
1%
2%
Typical commute
20 to 29 minutes
20 to 29 minutes
20 to 29 minutes
20 to 29 minutes
The rental vacancy rate in Covington is 4.9%, lower than in Kenton County (6.3%).
More than one person per room: that is how 2.7% of households in Covington live, near the figure in Kenton County (2.1%).
Fewer people live in each home here: 2.21 on average, against 2.52 in Kenton County.
The car rules in Covington: 72% of workers drive to work alone, and the typical trip takes 20 to 29 minutes.
Do the math
What would you pay each month for a home in Covington?
A typical home is tight for the typical income
We start with a typical home in Covington, worth $187,300, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 31% of the typical household income in Covington, which is $61,166 a year. For that payment to be 28% of income, a household would need to earn about $67,714 a year.
The calculator's FHA and conventional loan limits are those of all of Kenton 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 $6,556 (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
$1,580
at 7.18% · 30 years
Loan amount
$183,907
Total interest
$264,599
Paid off in
November 2056
Includes $3,163 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $1,427 a month
Tight
$1,427 to $1,835 a month
Your payment · 31%
Hard
more than $1,835 a month
Compared with the typical household income in Covington ($61,166 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$1,246
Property tax
$173
Home insurance
$78
FHA mortgage insurance (MIP)
$83
You need at least $6,556 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 $1,580; principal and interest $1,246.
The city and its county
Covington and Kenton County
Covington is in Kenton County, Kentucky. 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 Kenton County, Kentucky, with Covington marked. Around it, the neighboring counties.
Covington
Kenton County
Other cities with a page
Covington's own numbers
Typical home value
$187,300
Typical monthly rent
$1,006
Typical yearly household income
$61,166
Households that own their home
52%
Effective property tax rate
1.11%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of Kenton County
FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,442
Price change over 5 years (FHFA)
+53%
Homes in a high flood-risk zone
0.9%
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 Kenton County.
A typical home in Covington is worth $187,300: 23% below the county and 9% below Kentucky. With the typical household income in Covington ($61,166 a year), a typical home costs 3.1 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.
Covington3.1 years
Kenton3.0 years
Kentucky3.2 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in Kenton County
According to FHFA’s house price index, home prices in Kenton County rose 96% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of Kenton County.
Yearly change in FHFA’s price index in Kenton County, 2016 to 2025
2016: +5.1% +5.1% 2016
2017: +4.2% +4.2% 2017
2018: +5.7% +5.7% 2018
2019: +5.8% +5.8% 2019
2020: +5.0% +5.0% 2020
2021: +10.9% +10.9% 2021
2022: +15.3% +15.3% 2022
2023: +7.8% +7.8% 2023
2024: +6.8% +6.8% 2024
2025: +3.6% +3.6% 2025
Change in FHFA’s price index in Kenton County, Kentucky and the United States
Period
County
Kentucky
U.S.
Last year (2025)
+3.6%
+3.9%
+2.9%
5 years (2020–2025)
+53%
+50%
+47%
10 years (2015–2025)
+96%
+84%
+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 Kenton County, Kentucky and the U.S.
Three numbers side by side. “Typical” means the median: half are above it and half below.
Typical home value
Covington$187,300
Kenton$244,400
Kentucky$205,600
United States$332,700
Typical monthly rent
Covington$1,006
Kenton$1,069
Kentucky$967
United States$1,413
Typical yearly household income
Covington$61,166
Kenton$80,548
Kentucky$63,726
United States$80,734
See the full table
Covington next to Kenton County and Kentucky
Measure
Covington
Kenton County
Kentucky
U.S.
Typical home value
$187,300 ▼23% below the county
$244,400
$205,600
$332,700
Typical monthly rent
$1,006 ▼6% below the county
$1,069
$967
$1,413
Typical yearly household income
$61,166 ▼24% below the county
$80,548
$63,726
$80,734
Households that own their home
52% ▼19 points below the county
71%
68%
65%
Typical yearly property tax
$2,085 ▼13% below the county
$2,395
$1,544
$3,119
Effective property tax rate
1.11% ▲0.13 points above the county
0.98%
0.75%
0.94%
Renters with high rent for their income
49% ▲5 points above the county
44%
45%
51%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Kenton 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 $187,300 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$1,580a month
Least cash to close
Down payment
$6,556
Cash to close
$12,175
Rate
7.18%
Mortgage insurance
FHA MIP · $83
Conventional, 5% down$1,546a month
Down payment
$9,365
Cash to close
$14,984
Rate
7.18%
Mortgage insurance
PMI · $89
Conventional, 20% down, no PMI$1,266a month
Down payment
$37,460
Cash to close
$43,079
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$1,440a month
Down payment
$28,095
Cash to close
$33,714
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
$1,580
$6,556
$183,908
7.18%
FHA MIP · $83
$12,175
580
Conventional, 5% down
$1,546
$9,365
$177,935
7.18%
PMI · $89
$14,984
620*
Conventional, 20% down, no PMI
$1,266
$37,460
$149,840
7.18%
None
$43,079
620*
ITIN, 15% down (example)
$1,440
$28,095
$159,205
8.18%
None
$33,714
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 $1,006 a month: 6% below the county. In Covington, 49% of renter households pay 30% or more of their income in rent.
HUD publishes a fair market rent for all of Kenton County, by unit size. To pay the 2-bedroom one ($1,442 a month) without spending more than 30% of your income, you would need to earn $27.73 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 Kenton County (Fiscal year 2027)
Size
Fair rent a month
Hourly wage
Yearly income
Studio
$1,052
$20.23
$42,080
1 bedroom
$1,128
$21.69
$45,120
2 bedrooms
$1,442
$27.73
$57,680
3 bedrooms
$1,897
$36.48
$75,880
4 bedrooms
$2,141
$41.17
$85,640
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 has 4 ZIP codes with their own.
For 2 bedrooms it runs from $1,290 in 41014 to $1,530 in 41011.
1 of the 4 is above the fair market rent for Kenton County ($1,442).
2-bedroom fair market rent in each of the 4 ZIP codes of Covington, beside the one for Kenton County. For 2 bedrooms it runs from $1,290 in 41014 to $1,530 in 41011. 1 of the 4 is above the fair market rent for Kenton County ($1,442).
2-bedroom fair market rent in each ZIP code
Each line is one ZIP code: in color, those above the county's fair market rent; in gray, the rest.
County: $1,442
Lowest: $1,290 (41014)Highest: $1,530 (41011)
Fair market rent by ZIP code and size in Covington, fiscal year 2027.
41011
$1,120
$1,200
$1,530
$2,010
$2,270
41014
$940
$1,010
$1,290
$1,700
$1,920
41015
$960
$1,030
$1,320
$1,740
$1,960
41017
$960
$1,030
$1,320
$1,740
$1,960
ZIP code2 bd3 bd
41011 $1,530$2,010
41014 $1,290$1,700
41015 $1,320$1,740
41017 $1,320$1,740
3 of these ZIP codes cross 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)
HUD lists 36 buildings with rents for lower incomes in Covington. These are the largest.
City Heights706 Welsh Dr, Covington 41011366 homes, 361 low-income · Run by Housing Authority of Covington(859) 292-2145
Latonia Terrace13 Indiana Dr, Covington 41015235 low-income homes · Run by Housing Authority of Covington · Average payment: $357 a month · Average wait: 8 months(859) 292-2145
Golden Tower50 E 11th St, Covington 41011200 homes, 155 low-income · Run by Housing Authority of Covington · Average payment: $365 a month · Average wait: 10 months(859) 292-2145
The Colony3800 Locke St, Covington 41015137 homes, 136 low-income · For older adults(859) 581-2214
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.
There are 2 HUD-approved agencies with an office in Kenton County; 2 say they serve in Spanish.
No down payment, repair or rent-help program on our list is for Covington or Kenton County. The ones below are statewide in Kentucky: they work in Covington the same as in the rest of the state.
Kentucky state corporation loan of up to $12,500 for the down payment and closing costs, repaid over 15 years as a second loan, for buyers who take a KHC mortgage.Offered by Kentucky Housing Corporation (KHC).
No legal help resource on our list is for Covington or Kenton 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 Kenton 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 $187,300, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Kenton County it is $244,400.
How much does it cost to rent in Covington?
Typical rent in Covington is $1,006 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Kenton County is $1,442.
What is the FHA loan limit in Covington?
Covington uses the FHA limit for all of Kenton County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.
How much property tax do owners pay in Covington?
The typical homeowner in Covington pays $2,085 a year, according to the U.S. Census Bureau. That is 1.11% of the home’s value; in Kenton County, the rate is 0.98%.
Where can I find free help to buy or rent in Covington?
There are 2 HUD-approved counseling agencies with an office in Kenton County. 2 say they serve in Spanish. They can help you get ready to buy, with your credit, or with rent.
