Covington, OH 45318 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Covington, OH—45318

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$234,000

4.0% YoY Growth

Household Income

$64,200

23.2% YoY Growth

Days on Market

123

194.0% Longer YoY

Home Price Forecast

N/A

Median Rent

$1,030

8.3% YoY Growth

1-Bed Rent

N/A

2-Bed Rent

$1,030

0.3% YoY Growth

3-Bed Rent

N/A

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	4.0%
Single Family	$235,000	4.4%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed	N/A	N/A

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

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% of Rental Stock

Studio

4.3%

1 Bedroom

9.2%

2 Bedrooms

57.3%

3 Bedrooms

17.1%

4 Bedrooms

12.0%

Property Listings — Covington, OH

As of Dec '25, Realtor.com reports that the median days on market for a home in Covington, OH is 102. This is a increase of 163.0% 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 50.0%, representing a large inventory and a lot of supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$285,000	4.0%
Listing Count	19	92.0%
Listings as % of Homes	0.2%	92.0%
Days on Market	123	194.0%

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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%

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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%

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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%

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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

Covington, OH—45318

Key Metrics at a Glance

Home Price Trends — Covington, OH

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Covington, OH

% of Rental Stock

Property Listings — Covington, OH

Demographics — Covington, OH

Race and Ethnicity

Mortgage and Risk — Covington, OH

Mortgages

Rentals and Section 8 — Covington, OH

Section 8 Market Size

Section 8 Opportunity

Affordability — Covington, OH

Home Price to Income Ratio

Covington, OH — ZIP Code Boundary Map

Nearby ZIP Codes

Pleasant Hill, OH

Bradford, OH

Ludlow Falls, OH

Russia, OH

Houston, OH

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.1
Median Home Price	$234,000
Median Household Income	$64,200

Covington, OH—45318

Key Metrics at a Glance

Home Price Trends — Covington, OH

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Covington, OH

% of Rental Stock

Property Listings — Covington, OH

Demographics — Covington, OH

Race and Ethnicity

Mortgage and Risk — Covington, OH

Mortgages

Rentals and Section 8 — Covington, OH

Section 8 Market Size

Section 8 Opportunity

Affordability — Covington, OH

Home Price to Income Ratio

Covington, OH — ZIP Code Boundary Map

Nearby ZIP Codes

Pleasant Hill, OH

Bradford, OH

Ludlow Falls, OH

Russia, OH

Houston, OH

Frequently Asked Questions

What is the average home price in Covington, OH 45318?

How have home prices in Covington, OH 45318 changed over the past year?

What is the home price projection for Covington, OH 45318?

What are the demographics of Covington, OH 45318?

How long does it take homes to sell in Covington, OH 45318?

What is the average rent price in Covington, OH 45318?