Cost of Living in Covington, KY
Population: 40,902 • 2026 Data
$58,814
Median Household Income
-24% vs national
$949
Median Monthly Rent
-30% vs national
$167,900
Median Home Value
-50% vs national
4.6%
Unemployment Rate
Housing in Covington
The median home value in Covington, KY is $167,900. Monthly rent for a typical unit averages $949, while total monthly housing costs (including utilities and insurance) average $1,015.
Rent-to-income ratio: 19.4%. This is within the recommended 30% threshold, suggesting housing is relatively affordable for median-income earners.
Income and Employment
The median household income in Covington, KY is $58,814. The unemployment rate stands at 4.6%, with a labor force of 22,211 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.