Covington, LA—70433
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Covington, LA
Home Price Trends — Covington, LA
As of Oct '25, the median home price in Covington, LA is $329,000, with a year-over-year change of 0.9%. This indicates that home prices in Covington, LA are flat. According to Zillow, the 1-year price projection is -2.9%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $329,000 | 0.9% |
| Single Family | $337,000 | 0.3% |
| Condos | $152,000 | -5.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $116,000 | -8.7% |
2 Bed | $179,000 | -3.2% |
3 Bed | $268,000 | 0.0% |
4 Bed | $460,000 | 1.3% |
| 5 Bed | $707,000 | 2.0% |
% of Housing Stock
Rental Trends — Covington, LA
As of July '25, Rentcast reports the average rent in Covington, LA is $2,040, with a year-over-year rent change of 3.0%. Per bedroom, the median rent as of July '25 in Covington, LA is studios: $950, 1-bedrooms: $1,280, 2-bedrooms: $1,450, 3-bedrooms: $2,130, 4-bedrooms: $2,730. The most common rental property sizes in Covington, LA are 2-bedroom and 3-bedroom, accounting for 36.9% and 32.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,900 | $2,040 |
| Studio Rent | $950 | $950 |
| 1 Bed Rent | $1,310 | $1,280 |
| 2 Bed Rent | $1,400 | $1,450 |
| 3 Bed Rent | $2,100 | $2,130 |
| 4 Bed Rent | $2,500 | $2,730 |
% of Rental Stock
Property Listings — Covington, LA
As of Oct '25, Realtor.com reports that the median days on market for a home in Covington, LA is 77. This is a increase of 3.0% 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 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $441,000 | 11.0% |
Listing Count | 307 | 27.0% |
| Listings as % of Homes | 0.9% | 27.0% |
Days on Market | 77 | 3.0% |
Demographics — Covington, LA
As of the latest ACS Survey released in 2023, Covington, LA has a population of 41,800, which has increased by 10.2% over the past 5 years. Covington, LA is a moderately popular place for families, as children make up 22.0% of the population. The area has a moderately educated workforce, with 44.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 41,800 | 10.2% |
% Under 18 | 22.0% | -3.1% |
% Seniors | 19.9% | 19.9% |
% WFH | 10.8% | 103.8% |
% w/ College Degree | 44.7% | 9.3% |
As of the latest ACS Survey released in 2023, Covington, LA is a predominantly white area, with 78.2% of the population identifying as white. The white population has shrunk by 0.8% in the last 5 years. The second most common race or ethnicity in Covington, LA is black, making up 9.2% of the population. Foreign-born residents account for 4.8% of the population in Covington, LA, and this percentage has decreased by 17.2% 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 | 78.2% | -0.8% |
% Black | 9.2% | -13.2% |
% Hispanic | 7.4% | 15.6% |
% Asian | 1.2% | -52.0% |
% Foreign Born | 4.8% | -17.2% |
Mortgage and Risk — Covington, LA
According to HUD data as of 2023, there were 680 mortgage originations in Covington, LA, of which 76.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 31.0% above 90% LTV (very high). This implies large mortgage risk in Covington, LA. Investor activity is low, as 4.0% 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 | 680 |
% Conventional Loans | 76.0% |
% Government Loans | 24.0% |
% Investor Loans | 4.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Covington, LA
As of 2024, the percent of homes in Covington, LA under the Section 8 program is 2.1%. 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, LA, 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 | 147 |
Total Units Section 8 | 98 |
% Rentals under Section 8 | 2.1% |
% Occupied Section 8 | 69.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $90 | $1,310 | $1,400 |
| 2 Bedroom | $280 | $1,400 | $1,680 |
| 3 Bedroom | $50 | $2,100 | $2,150 |
| 4 Bedroom | $20 | $2,500 | $2,520 |
Affordability — Covington, LA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.2 |
| Median Home Price | $329,000 |
| Median Household Income | $79,400 |