Covington, OH—45318
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Covington, OH
Covington, OH lacks sufficient home price data for analysis.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $234,000 | 3.9% |
| Single Family | $234,000 | 4.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $176,000 | 4.1% |
3 Bed | $251,000 | 5.0% |
4 Bed | $307,000 | 5.1% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Covington, OH
As of July '25, Rentcast reports the average rent in Covington, OH is $1,000, with a year-over-year rent change of -8.3%. Per bedroom, the median rent as of July '25 in Covington, OH is 2-bedrooms: $1,000. The most common rental property sizes in Covington, OH are 2-bedroom and 3-bedroom, accounting for 57.3% and 17.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,030 | $1,000 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,030 | $1,000 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Covington, OH
As of Oct '25, Realtor.com reports that the median days on market for a home in Covington, OH is 96. This is a increase of 103.0% 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 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $272,000 | 32.0% |
Listing Count | 15 | 72.0% |
| Listings as % of Homes | 0.2% | 72.0% |
Days on Market | 96 | 103.0% |
Demographics — Covington, OH
As of the latest ACS Survey released in 2023, Covington, OH has a population of 5,340, which has decreased by -5.3% over the past 5 years. Covington, OH is a moderately popular place for families, as children make up 16.3% of the population. The area has a poorly educated workforce, with 13.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 5,340 | -5.3% |
% Under 18 | 16.3% | -38.7% |
% Seniors | 24.1% | 37.7% |
% WFH | 9.8% | 292.0% |
% w/ College Degree | 13.1% | 22.4% |
As of the latest ACS Survey released in 2023, Covington, OH is a predominantly white area, with 98.3% of the population identifying as white. The white population has grown by 1.4% in the last 5 years. The second most common race or ethnicity in Covington, OH is black, making up 0.7% of the population. Foreign-born residents account for 0.1% of the population in Covington, OH, and this percentage has decreased by 80.0% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 98.3% | 1.4% |
% Black | 0.7% | 133.3% |
% Hispanic | 0.1% | -90.0% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 0.1% | -80.0% |
Mortgage and Risk — Covington, OH
According to HUD data as of 2023, there were 118 mortgage originations in Covington, OH, of which 73.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 29.0% above 90% LTV (very high). This implies large mortgage risk in Covington, OH. Investor activity is low, as 2.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 118 |
% Conventional Loans | 73.0% |
% Government Loans | 27.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Covington, OH
Covington, OH lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 53 |
Total Units Section 8 | 53 |
% Rentals under Section 8 | 11.1% |
% Occupied Section 8 | 84.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $720 |
| 2 Bedroom | -$100 | $1,030 | $930 |
| 3 Bedroom | N/A | N/A | $1,200 |
| 4 Bedroom | N/A | N/A | $1,320 |
Affordability — Covington, OH
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $234,000 |
| Median Household Income | $64,200 |