Average Rent in Covington, KY
1 apartment buildings, 9 units. Daily asking prices with rent history for every building.
Avg Rent
$2,387/mo
median $2,320
market average
Cheapest
$1,655/mo
Madison Place Apartments
Properties
1
tracked daily
Units
9
available now
Covington, KY Resident Access
City Club members share insider gate codes, parking links, and amenity tips.
Analysis
Rent Price Breakdown
Compare pricing across all 1 properties in Covington, KY.
Average Rent by Property
Starting Price vs Average
Price per Square Foot
Covington, KY Rent Prices
All 1 properties ranked by lowest available rent.
| # | Property | From | Avg | $/sqft | Rating | Units |
|---|---|---|---|---|---|---|
| 1 | Madison Place Apartments 50 W Rivercenter Blvd, Covington, KY 41011, USA | $1,655 | $2,387 | $2.15/ft² | 4.8 (47) | 9 |
Rent & Price History by Building
By Area
Covington, KY neighborhoods
Tracked buildings across 1 named neighborhoods. Pick one to see its apartments.
Covington, KY Average Rent Prices 2026
The average rent in Covington, KY is $2,387 per month, based on 9 units across 1 apartment communities. Prices range from $1,655 at Madison Place Apartments to $3,385 at Madison Place Apartments.
Every price is a real asking rent, updated that morning. Request a neighborhood we don't cover and we add it within 24 hours.
Market Context
Who rents in Covington, KY, and what they pay
Tracked tracked rent in Covington, KY averages $2,387/mo. At the local median household income of $58,814, that works out to 49% of gross income, a severely rent-burdened market by HUD standards.
The U.S. Census Bureau's American Community Survey 2023 release pegged median gross rent in Covington, KY at $949/mo. The current tracked market average runs 152% higher than that benchmark, reflecting both two to three years of rent growth and the fact that the Census figure covers all renter-occupied housing in Covington, KY while the tracked market average covers units currently listed in larger apartment communities.
What salary do I need to live comfortably in Covington, KY?
Built on the 25 to 30 percent rent-to-income guideline used by most landlords and credit-scoring models.
Minimum to afford average rent
$95,000/year
Based on the 30 percent rule, using our tracked average rent of $2,387/mo.
Comfortable income
$115,000/year
Based on the 25 percent rule, leaving more room for savings, transport, and groceries.
To afford the cheapest tracked apartment ($1,655/mo), you need to earn at least $66,000/year.
Median household income in Covington, KY is $58,814 , about 49% below the comfortable-living threshold.
Cost of living in Covington, KY
Overall prices in Covington, KY runs below the national average by about 6% (BEA Regional Price Parity index 94.2, where 100 equals the U.S. average). The breakdown below estimates monthly costs for a single adult, using national consumer-spending baselines from the Bureau of Labor Statistics scaled by Covington, KY's regional price parities.
| Category | Monthly estimate |
|---|---|
| Rent (market average) | $2,387 |
| Utilities | $360 |
| Groceries | $510 |
| Transportation | $859 |
| Healthcare | $419 |
| Other goods and services | $671 |
| Estimated total | $5,206/mo |
Population
40,902
Median household income
$58,814
Census median rent
$949/mo
Census rent burden
29.8%
Median age
37.6
Mean commute
23 min
Methodology
Rent data
Sourced directly from each tracked apartment community and refreshed every 24 hours. Every listed unit price on this page is real and listed today.
Cost of living
Estimates combine national consumer-spending baselines from the U.S. Bureau of Labor Statistics (Consumer Expenditure Survey) with the U.S. Bureau of Economic Analysis Regional Price Parities (MARPP dataset). Both are peer-reviewed federal data releases published annually.
Salary to live comfortably
Applies the standard 25 to 30 percent rent-to-income rule on top of the listed rent. This is the same affordability guideline used by most landlords and credit-scoring models.
Demographic figures
Median household income, population, median age, commute time, Census median rent, and rent as percentage of income come from the U.S. Census Bureau's American Community Survey 5-year estimates, the most recent complete release.
Cost of living and demographic figures were last published in 2023.
Compare
Nearby cities in Kentucky
How Covington, KY rent compares to other markets in the state.
| City | Avg Rent | vs Covington, KY | 30-Day Change | Properties |
|---|---|---|---|---|
| Lexington, KY | $1,596 | -33% | -1.5% | 21 |
| Louisville, KY | $1,344 | -44% | -12.5% | 16 |
| Bowling Green, KY | $1,192 | -50% | -1% | 6 |
| Owensboro, KY | $1,037 | -57% | +1% | 5 |
Frequently asked questions
What is the average rent in Covington, KY?
The average rent in Covington, KY is $2,387 per month, based on 9 units across 1 apartment buildings tracked by Average Rent. Prices are refreshed daily.
What is the median rent in Covington, KY?
The median asking rent in Covington, KY is $2,320 per month, computed from 9 live listed units and refreshed daily. The average is $2,387/mo; the median resists skew from luxury listings.
What is the cheapest apartment rent in Covington, KY?
The lowest available rent in Covington, KY starts at $1,655 per month. Availability changes daily and prices are refreshed each morning.
Rent Trends in Covington, KY
Track how apartment prices are changing over time.
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