In Covington, a typical home is worth $637,300 and typical rent is $2,232 a month. Compared with all of King County, the typical home value is 26% lower, typical household income is 8% higher, and the share of households that own their home is 24 points higher.
Typical home value from Zillow, September 2021 to September 2026: from $587,406 to $646,823.
Typical rent
$2,491a month
▲ 6.7% more than 12 months ago
Typical rent from Zillow, September 2021 to September 2026: from $1,912 to $2,491.
From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).
Covington is in King County. The FHA loan limit ($1,063,750 for a one-unit home), the fair market rents and the help on this page are those of all of King County. See the county
What this place has that others do not, from public data, most unusual first.
1
79% of households in Covington own their home, against 55% in King County.
2
The typical home in Covington is worth $637,300,26% less than in King County as a whole ($859,900).
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
King County
Washington
United States
Kind of home: Covington and its comparisons
Measure
Covington
King County
Washington
United States
Detached house
87%
50%
62%
61%
Attached house
Unreliable estimate
5%
4%
6%
Building of 2 to 4
Unreliable estimate
5%
6%
8%
Apartments (5 or more)
10%
38%
22%
19%
Mobile home
Unreliable estimate
1%
6%
6%
Boat, RV and other
Unreliable estimate
0%
0%
0%
Detached houses, standing on their own, make up 87% of homes here, against 50% in King County.
Year built
Before 19601960–19791980–19992000–20092010 or laterUnreliable estimate
Covington
King County
Washington
United States
Year built: Covington and its comparisons
Measure
Covington
King County
Washington
United States
Before 1960
Unreliable estimate
23%
21%
26%
1960–1979
27%
23%
23%
24%
1980–1999
32%
25%
27%
25%
2000–2009
23%
13%
15%
14%
2010 or later
16%
16%
14%
11%
Here half of the homes date from 1994 or later; in King County, from 1983 or later.
Homes in Covington are bigger: 87% have 3 bedrooms or more; in King County, 50%.
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Unreliable estimate
Under $100KUnreliable
$100K–$200KUnreliable
$200K–$300KUnreliable
$300K–$500K18%
$500K–$750K49%
$750K–$1M22%
$1M or more6%
Value of owner-occupied homes: Covington and its comparisons
Measure
Covington
Under $100K
Unreliable estimate
$100K–$200K
Unreliable estimate
$200K–$300K
Unreliable estimate
$300K–$500K
18%
$500K–$750K
49%
$750K–$1M
22%
$1M or more
6%
Monthly rent with utilities
Unreliable estimate
Under $500Unreliable
$500–$999Unreliable
$1,000–$1,499Unreliable
$1,500–$1,99932%
$2,000–$2,49921%
$2,500–$2,99925%
$3,000 or moreUnreliable
Monthly rent with utilities: Covington and its comparisons
Measure
Covington
Under $500
Unreliable estimate
$500–$999
Unreliable estimate
$1,000–$1,499
Unreliable estimate
$1,500–$1,999
32%
$2,000–$2,499
21%
$2,500–$2,999
25%
$3,000 or more
Unreliable estimate
With a mortgage
$2,668 a month
King County: $3,273 a month
Without a mortgage
$844 a month
King County: $1,116 a month
Owners with a mortgage
79%
King County: 70%
In Covington, 79% of owners have a mortgage, and their typical cost is $2,668 a month, against $3,273 in King County. Without one it drops to $844.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
Covington+78%
King County+57%
Washington+67%
United States+53%
Typical rent
Covington+27%
King County+30%
Washington+40%
United States+33%
Typical household income
Covington+28%
King County+31%
Washington+33%
United States+29%
Change since 2015–2019: Covington and its comparisons
Measure
Covington
King County
Washington
United States
Typical home value
+78%
+57%
+67%
+53%
Typical rent
+27%
+30%
+40%
+33%
Typical household income
+28%
+31%
+33%
+29%
The typical home value in Covington rose 78% since 2015–2019, more than in King County (57%).
The typical rent in Covington rose 27% over the same time; in King County, it rose 30%.
The typical household income in Covington rose 28% over that time; home values changed +78% and rent +27%.
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Covington and its comparisons
Measure
Covington
King County
Washington
United States
Rental vacancy
Unreliable estimate
5.3%
4.5%
5.5%
Homeowner vacancy
Unreliable estimate
0.7%
0.7%
0.9%
More than one person per room
Unreliable estimate
3.9%
3.5%
3.4%
People per household
2.87
2.39
2.50
2.53
Drive alone
69%
50%
63%
69%
Carpool
9%
7%
9%
9%
Public transit
Unreliable estimate
7%
3%
3%
Walk or bike
Unreliable estimate
5%
4%
3%
Work from home
19%
29%
20%
15%
Other means
Unreliable estimate
1%
1%
2%
Typical commute
30 to 39 minutes
20 to 29 minutes
20 to 29 minutes
20 to 29 minutes
Households in Covington are bigger: 2.87 people on average; in King County, 2.39.
To get to work, 69% of workers in Covington drive alone; in King County, 50%.
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 $637,300, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 47% of the typical household income in Covington, which is $134,502 a year. For that payment to be 28% of income, a household would need to earn about $225,393 a year.
The calculator's FHA and conventional loan limits are those of all of King 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 $22,306 (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
$5,259
at 7.18% · 30 years
Loan amount
$625,756
Total interest
$900,317
Paid off in
November 2056
Includes $10,762 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $3,138 a month
Tight
$3,138 to $4,035 a month
Hard
more than $4,035 a month
Your payment · 47%
Compared with the typical household income in Covington ($134,502 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$4,239
Property tax
$473
Home insurance
$266
FHA mortgage insurance (MIP)
$282
You need at least $22,306 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 $5,259; principal and interest $4,239.
The city and its county
Covington and King County
Covington is in King County, Washington. 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 King County, Washington, with Covington marked. Around it, the neighboring counties.
Covington
King County
Other cities with a page
Covington's own numbers
Typical home value
$637,300
Typical monthly rent
$2,232
Typical yearly household income
$134,502
Households that own their home
79%
Effective property tax rate
0.89%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of King County
FHA limit, one-unit home
$1,063,750
Conventional limit, one unit
$1,063,750
HUD fair market rent, 2 bedrooms
$2,549
Price change over 5 years (FHFA)
+37%
Homes in a high flood-risk zone
1%
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 King County.
A typical home in Covington is worth $637,300: 26% below the county and 13% above Washington. With the typical household income in Covington ($134,502 a year), a typical home costs 4.7 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.
Covington4.7 years
King6.9 years
Washington5.8 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in King County
According to FHFA’s house price index, home prices in King County rose 101% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of King County.
Yearly change in FHFA’s price index in King County, 2016 to 2025
2016: +13.4% +13.4% 2016
2017: +12.7% +12.7% 2017
2018: +9.2% +9.2% 2018
2019: +1.8% +1.8% 2019
2020: +3.5% +3.5% 2020
2021: +11.3% +11.3% 2021
2022: +15.8% +15.8% 2022
2023: +0.2% +0.2% 2023
2024: +4.8% +4.8% 2024
2025: +0.9% +0.9% 2025
Change in FHFA’s price index in King County, Washington and the United States
Period
County
Washington
U.S.
Last year (2025)
+0.9%
+1.8%
+2.9%
5 years (2020–2025)
+37%
+44%
+47%
10 years (2015–2025)
+101%
+113%
+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 King County, Washington and the U.S.
Three numbers side by side. “Typical” means the median: half are above it and half below.
Typical home value
Covington$637,300
King$859,900
Washington$564,600
United States$332,700
Typical monthly rent
Covington$2,232
King$2,092
Washington$1,760
United States$1,413
Typical yearly household income
Covington$134,502
King$124,746
Washington$98,141
United States$80,734
See the full table
Covington next to King County and Washington
Measure
Covington
King County
Washington
U.S.
Typical home value
$637,300 ▼26% below the county
$859,900
$564,600
$332,700
Typical monthly rent
$2,232 ▲7% above the county
$2,092
$1,760
$1,413
Typical yearly household income
$134,502 ▲8% above the county
$124,746
$98,141
$80,734
Households that own their home
79% ▲24 points above the county
55%
64%
65%
Typical yearly property tax
$5,659 ▼20% below the county
$7,114
$4,556
$3,119
Effective property tax rate
0.89% ▲0.06 points above the county
0.83%
0.81%
0.94%
Renters with high rent for their income
50% ▲3 points above the county
47%
50%
51%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below King 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 $637,300 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$5,259a month
Least cash to close
Down payment
$22,306
Cash to close
$41,425
Rate
7.18%
Mortgage insurance
FHA MIP · $282
Conventional, 5% down$5,142a month
Down payment
$31,865
Cash to close
$50,984
Rate
7.18%
Mortgage insurance
PMI · $303
Conventional, 20% down, no PMI$4,192a month
Down payment
$127,460
Cash to close
$146,579
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$4,781a month
Down payment
$95,595
Cash to close
$114,714
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
$5,259
$22,306
$625,757
7.18%
FHA MIP · $282
$41,425
580
Conventional, 5% down
$5,142
$31,865
$605,435
7.18%
PMI · $303
$50,984
620*
Conventional, 20% down, no PMI
$4,192
$127,460
$509,840
7.18%
None
$146,579
620*
ITIN, 15% down (example)
$4,781
$95,595
$541,705
8.18%
None
$114,714
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 $2,232 a month: 7% above the county. In Covington, 50% of renter households pay 30% or more of their income in rent.
HUD publishes a fair market rent for all of King County, by unit size. To pay the 2-bedroom one ($2,549 a month) without spending more than 30% of your income, you would need to earn $49.02 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 King County (Fiscal year 2027)
Size
Fair rent a month
Hourly wage
Yearly income
Studio
$2,091
$40.21
$83,640
1 bedroom
$2,180
$41.92
$87,200
2 bedrooms
$2,549
$49.02
$101,960
3 bedrooms
$3,324
$63.92
$132,960
4 bedrooms
$3,954
$76.04
$158,160
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 98042.
For 2 bedrooms it is $2,640: $91 more than the fair market rent for King County ($2,549).
Fair market rent by ZIP code and size in Covington, fiscal year 2027.
ZIP code
Studio
1 bd
2 bd
3 bd
4 bd
98042
$2,170
$2,260
$2,640
$3,440
$4,100
ZIP code2 bd3 bd
98042 $2,640$3,440
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)
HUD lists 2 buildings with rents for lower incomes in Covington. These are the largest.
Polaris at Covington17110 SE 276th St, Covington 98042200 homes, 198 low-income · 1 bd: 45 · 2 bd: 100 · 3 bd: 55 · In service since 2016 · For people with disabilities
Covington Place Retirement26902 169th Pl SE, Covington 98042121 low-income homes · 1 bd: 64 · 2 bd: 57 · In service since 2010 · For older adults, people with disabilities, families
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 4 HUD-approved agencies with an office in King County; 3 say they serve in Spanish.
No down payment, repair or rent-help program on our list is for Covington or King County. The ones below are statewide in Washington: they work in Covington the same as in the rest of the state.
Washington state commission 0% second mortgage for 3%, 4% or 5% of the first mortgage, with no monthly payments; you do not need to be a first-time buyer.Offered by Washington State Housing Finance Commission.
Washington state commission loan with no monthly payments of up to 20% of the price (maximum $150,000) plus closing costs, for first-time buyers whose family lived in Washington before 1968 and belonged to a group affected by housing discrimination, including Hispanic people.Offered by Washington State Housing Finance Commission.
Washington state commission loan of up to $15,000 at 1% simple interest, with no monthly payments, for the down payment and closing costs of first-time buyers with the House Key Opportunity mortgage.Offered by Washington State Housing Finance Commission.
No legal help resource on our list is for Covington or King 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 King 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 $637,300, according to the U.S. Census Bureau (average 2020–2024). For comparison, in King County it is $859,900.
How much does it cost to rent in Covington?
Typical rent in Covington is $2,232 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in King County is $2,549.
What is the FHA loan limit in Covington?
Covington uses the FHA limit for all of King County (2026): $1,063,750 for a one-unit home and $2,045,700 for a four-unit home.
How much property tax do owners pay in Covington?
The typical homeowner in Covington pays $5,659 a year, according to the U.S. Census Bureau. That is 0.89% of the home’s value; in King County, the rate is 0.83%.
Where can I find free help to buy or rent in Covington?
There are 4 HUD-approved counseling agencies with an office in King County. 3 say they serve in Spanish. They can help you get ready to buy, with your credit, or with rent.
