Covington, GA—30014
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Covington, GA
Home Price Trends — Covington, GA
As of Nov '25, the median home price in Covington, GA is $301,000, with a year-over-year change of -2.2%. This indicates that home prices in Covington, GA are decreasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $301,000 | -2.2% |
| Single Family | $301,000 | -2.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $214,000 | -2.3% |
3 Bed | $271,000 | -2.5% |
4 Bed | $364,000 | -1.9% |
| 5 Bed | $416,761 | -2.3% |
% of Housing Stock
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.
| Type | Median Rent | Average 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 |
% of Rental Stock
Property Listings — Covington, GA
As of Nov '25, Realtor.com reports that the median days on market for a home in Covington, GA is 79. This is a increase of 21.0% 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 | $367,000 | -3.0% |
Listing Count | 340 | 17.0% |
| Listings as % of Homes | 1.3% | 17.0% |
Days on Market | 79 | 21.0% |
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.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 40,200 | 4.6% |
% Under 18 | 24.5% | -10.3% |
% Seniors | 15.3% | 21.4% |
% WFH | 10.5% | 114.3% |
% w/ College Degree | 23.9% | 30.6% |
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
| Metric | Latest Census | 5-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% |
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
| Metric | Zip 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% |
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 Size | HUD Premium | Market Rent | Max 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
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.2 |
| Median Home Price | $301,000 |
| Median Household Income | $71,100 |