Cost of Living in Covington, KY
Population 40,902 · Kentucky · Data vintage 2023
(100 = US avg)
Most of Covington's cost indicators track within a reasonable band of national figures, with median household incomes near $58,814 — a more representative starting point for relocation math than the headline-expensive or headline-cheap cities on either tail. Around 22% of residents live below the federal poverty line, a rate that tends to correlate with the income and housing figures above.
Geographically, Covington sits roughly 7 miles south of Cincinnati. Median home values run roughly 22% lower than Cincinnati's $215,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Covington
The median home value in Covington is $167,900 — 45% below the national median of $305,000. Median rent runs $949/month, 28% lower than the national median of $1,314/month. The median household income of $58,814/year is 21% lower than the US median of $74,580. The local unemployment rate is 4.6%, below the national average of 4.8%. Kentucky's top state income tax rate is 4.0% and the combined sales tax is 6.0%. The climate averages highs of 65.4°F and lows of 44.2°F. Overall, Covington has a cost of living index of 62 versus the US average of 100, meaning it is 38% less expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
🌤 Climate
NOAA 1991–2020 Climate Normals
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High °F | 41 | 45 | 55 | 67 | 75 | 83 | 87 | 86 | 80 | 68 | 55 | 45 |
| Low °F | 24 | 26 | 33 | 43 | 53 | 61 | 65 | 64 | 56 | 44 | 34 | 28 |
| Precip" | 2.86 | 2.79 | 3.94 | 4.37 | 4.70 | 4.61 | 4.39 | 3.39 | 3.07 | 3.05 | 2.91 | 3.32 |
🏫 Schools
NCES CCD 2019 — public school district data
Frequently Asked Questions
What is the cost of living in Covington, KY?
Covington has a cost index of 62 (100 = national average). It is 38% below the national average.
What is average rent in Covington, KY?
The median gross rent in Covington is $949 per month based on 2023 Census data.
What is the average home price in Covington?
The median home value in Covington is $167,900 according to Zillow and Census data.
What is the median income in Covington?
The median household income in Covington is $58,814 per year (2023 ACS 5-year estimates).
What is the sales tax in Covington, KY?
The combined state and local sales tax rate in Covington is 6.0%. The Kentucky state income tax top rate is 4.0%.
Is Covington, KY affordable?
Yes, Covington is generally considered affordable, with a cost of living index of 62 — about 38% below the US national average of 100.
What is the weather like in Covington?
Covington has average high temperatures of 65.4°F and average lows of 44.2°F. Annual precipitation is 43.4". Data from NOAA 1991–2020 Climate Normals.
Covington at a Glance
- Population
- 40,902
- Median Income
- $58,814
- Home Value
- $167,900
- Median Rent
- $949/mo
- Unemployment
- 4.6%
- Avg High Temp
- 65.4°F
- Sales Tax
- 6.0%
Nearby Cities
Explore county-level cost of living data
Kentucky Rankings
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