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Covington, GA—30014

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$311,000
0.9% YoY Growth
Household Income
$71,100
47.8% YoY Growth
Days on Market
63
9.0% Longer YoY
Home Price Forecast
-0.3%
Median Rent
$1,850
3.7% YoY Growth
1-Bed Rent
$1,000
24.7% YoY Growth
2-Bed Rent
$1,380
12.8% YoY Growth
3-Bed Rent
$1,740
5.1% YoY Growth

Other Zip Codes in Covington, GA

30016
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Covington, GA

As of May '26, the median home price in Covington, GA is $311,000, with a year-over-year change of -0.9%. This indicates that home prices in Covington, GA are flat. According to Zillow, the 1-year price projection is -0.3%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$311,000-0.9%
Single Family $311,000-0.6%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$223,000-0.9%
    3 Bed
    		$278,000-1.8%
    4 Bed
    		$373,000-1.3%
    5 Bed $424,340-1.7%
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    % of Housing Stock

    Studio
    0.8%
    1 Bedroom
    5.1%
    2 Bedrooms
    22.4%
    3 Bedrooms
    44.2%
    4 Bedrooms
    19.3%
    5+ Bedrooms
    8.3%

    Rental Trends — Covington, GA

    As of July '25, Rentcast reports the average rent in Covington, GA is $1,940, with a year-over-year rent change of 3.7%. Per bedroom, the median rent as of July '25 in Covington, GA is studios: $1,390, 1-bedrooms: $1,130, 2-bedrooms: $1,500, 3-bedrooms: $1,840, 4-bedrooms: $2,190. The most common rental property sizes in Covington, GA are 3-bedroom and 2-bedroom, accounting for 39.3% and 39.1% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,850$1,940
    Studio Rent $1,390$1,390
    1 Bed Rent $1,000$1,130
    2 Bed Rent $1,380$1,500
    3 Bed Rent $1,740$1,840
    4 Bed Rent $2,040$2,190
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    % of Rental Stock

    Studio
    0.9%
    1 Bedroom
    9.8%
    2 Bedrooms
    39.1%
    3 Bedrooms
    39.3%
    4 Bedrooms
    8.8%
    5+ Bedrooms
    2.2%

    Property Listings — Covington, GA

    As of May '26, Realtor.com reports that the median days on market for a home in Covington, GA is 63. This is a increase of 9.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 29.0%, representing a large inventory and a lot of supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$385,0001.0%
    Listing Count
    		317-11.0%
    Listings as % of Homes1.3%-11.0%
    Days on Market
    		639.0%
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    Demographics — Covington, GA

    As of the latest ACS Survey released in 2023, Covington, GA has a population of 40,200, which has increased by 4.6% over the past 5 years. Covington, GA is a moderately popular place for families, as children make up 24.5% of the population. The area has a poorly educated workforce, with 23.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.5% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		40,2004.6%
    % Under 18
    		24.5%-10.3%
    % Seniors
    		15.3%21.4%
    % WFH
    		10.5%114.3%
    % w/ College Degree
    		23.9%30.6%
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    As of the latest ACS Survey released in 2023, Covington, GA is a predominantly white area, with 53.0% of the population identifying as white. The white population has shrunk by 6.0% in the last 5 years. The second most common race or ethnicity in Covington, GA is black, making up 35.1% of the population. Foreign-born residents account for 6.8% of the population in Covington, GA, and this percentage has increased by 70.0% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		53.0%-6.0%
    % Black
    		35.1%1.7%
    % Hispanic
    		7.1%4.4%
    % Asian
    		1.7%240.0%
    % Foreign Born
    		6.8%70.0%
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    Mortgage and Risk — Covington, GA

    According to HUD data as of 2023, there were 1061 mortgage originations in Covington, GA, of which 56.0% of loans were conventional mortgages. The average loan-to-value was 72.0%, with 42.0% above 90% LTV (very high). This implies large mortgage risk in Covington, GA. Investor activity is low, as 3.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		1,061
    % Conventional Loans
    		56.0%
    % Government Loans
    		44.0%
    % Investor Loans
    		3.0%
    % Second Loans
    		1.0%
    % Cash Out Refinance
    		16.0%
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    Rentals and Section 8 — Covington, GA

    As of 2024, the percent of homes in Covington, GA under the Section 8 program is 13.0%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Covington, GA, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.

    Section 8 Market Size

    Total Units under HUD
    		709
    Total Units Section 8
    		709
    % Rentals under Section 8
    		13.0%
    % Occupied Section 8
    		76.9%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$320$1,000$1,320
    2 Bedroom$80$1,380$1,460
    3 Bedroom$20$1,740$1,760
    4 Bedroom$80$2,040$2,120

    Affordability — Covington, GA

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio4.4
    Median Home Price$311,000
    Median Household Income$71,100

    Covington, GA — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Oxford, GA

    30054

    Mansfield, GA

    30055

    Covington, GA

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    Frequently Asked Questions