Covington, LA—70435
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Covington, LA
Home Price Trends — Covington, LA
As of Nov '25, the median home price in Covington, LA is $294,000, with a year-over-year change of -0.4%. This indicates that home prices in Covington, LA are flat. According to Zillow, the 1-year price projection is -2.7%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $294,000 | -0.4% |
| Single Family | $294,000 | -0.7% |
| 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 | 0.5% |
3 Bed | $278,000 | 1.1% |
4 Bed | $358,000 | 1.1% |
| 5 Bed | $518,639 | 0.8% |
% of Housing Stock
Rental Trends — Covington, LA
As of July '25, Rentcast reports the average rent in Covington, LA is $2,050, with a year-over-year rent change of -1.4%. Per bedroom, the median rent as of July '25 in Covington, LA is 2-bedrooms: $1,640, 3-bedrooms: $1,900, 4-bedrooms: $2,420. The most common rental property sizes in Covington, LA are 3-bedroom and 2-bedroom, accounting for 53.9% and 18.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,900 | $2,050 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,300 | $1,640 |
| 3 Bed Rent | $1,850 | $1,900 |
| 4 Bed Rent | $2,300 | $2,420 |
% of Rental Stock
Property Listings — Covington, LA
As of Nov '25, Realtor.com reports that the median days on market for a home in Covington, LA is 80. This is a increase of 16.0% 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 25.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $365,000 | 1.0% |
Listing Count | 144 | 7.0% |
| Listings as % of Homes | 0.9% | 7.0% |
Days on Market | 80 | 16.0% |
Demographics — Covington, LA
As of the latest ACS Survey released in 2023, Covington, LA has a population of 21,500, which has increased by 19.6% over the past 5 years. Covington, LA is a moderately popular place for families, as children make up 22.9% of the population. The area has a moderately educated workforce, with 33.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 21,500 | 19.6% |
% Under 18 | 22.9% | 1.8% |
% Seniors | 18.0% | -7.2% |
% WFH | 13.5% | 255.3% |
% w/ College Degree | 33.7% | 11.2% |
As of the latest ACS Survey released in 2023, Covington, LA is a predominantly white area, with 83.9% of the population identifying as white. The white population has shrunk by 2.7% in the last 5 years. The second most common race or ethnicity in Covington, LA is black, making up 8.7% of the population. Foreign-born residents account for 1.5% of the population in Covington, LA, and this percentage has decreased by 42.3% 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 | 83.9% | -2.7% |
% Black | 8.7% | 26.1% |
% Hispanic | 3.3% | -25.0% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 1.5% | -42.3% |
Mortgage and Risk — Covington, LA
According to HUD data as of 2023, there were 401 mortgage originations in Covington, LA, of which 69.0% of loans were conventional mortgages. The average loan-to-value was 94.0%, with 35.0% above 90% LTV (very high). This implies large mortgage risk in Covington, LA. Investor activity is low, as 5.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 401 |
% Conventional Loans | 69.0% |
% Government Loans | 31.0% |
% Investor Loans | 5.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 12.0% |
Rentals and Section 8 — Covington, LA
Covington, LA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 72 |
Total Units Section 8 | 72 |
% Rentals under Section 8 | 7.3% |
% Occupied Section 8 | 67.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,240 |
| 2 Bedroom | $180 | $1,300 | $1,480 |
| 3 Bedroom | $40 | $1,850 | $1,890 |
| 4 Bedroom | -$80 | $2,300 | $2,220 |
Affordability — Covington, LA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.7 |
| Median Home Price | $294,000 |
| Median Household Income | $81,300 |