2026 Affordability Data
Most Affordable Neighborhoods in Covington - 2026 Data
The median home value in Covington is $153,600, 46% below nat'l avg. Median rent is $817/month. With an affordability index of 146, Covington is more affordable than the national baseline of 100. We ranked 15 neighborhoods by affordability to help you find the best value in the Covington, KY area.
Key Takeaways: Affordability in Covington
- 1The most affordable neighborhood in Covington is Frankfort, with a median home value of $157,300.
- 2Covington's median home value is $153,600, 46% below nat'l avg (national: $281,900).
- 3Covington's affordability index is 146 (baseline 100), making it more affordable than the national average.
- 4Median rent in Covington is $817/month, 30% below nat'l avg (national: $1,163/month).
- 5We analyzed 15 neighborhoods in Covington to find the most affordable areas based on home values, rent, and affordability index.
Covington Affordability Overview
Median Home Value
$153,600
46% below nat'l avg
Median Rent
$817/mo
30% below nat'l avg
Median Income
$53,770
28% below nat'l avg
Affordability Index
146
46% above nat'l avg
Most Affordable Neighborhoods in Covington (Ranked)
| Rank | Neighborhood | Median Home Value |
|---|---|---|
| 1 | FrankfortKY | $157,300 |
| 2 | HendersonKY | $144,200 |
| 3 | FranklinKY | $166,600 |
| 4 | AlexandriaKY | $242,700 |
| 5 | HarrodsburgKY | $154,800 |
| 6 | JeffersontownKY | $225,500 |
| 7 | ShivelyKY | $133,400 |
| 8 | Louisville/Jefferson County metro government (balance)KY | $204,800 |
| 9 | St. MatthewsKY | $307,400 |
| 10 | SomersetKY | $131,900 |
| 11 | HopkinsvilleKY | $130,500 |
| 12 | OwensboroKY | $151,800 |
| 13 | ParisKY | $158,700 |
| 14 | MaysvilleKY | $146,500 |
| 15 | ElizabethtownKY | $207,800 |
Detailed Neighborhood Profiles
Home Value: $157,300
Rent: $817/mo
Affordability: 146
Population: 28,460
Walk Score: 0/100
Home Value: $144,200
Rent: $817/mo
Affordability: 146
Population: 28,166
Walk Score: 0/100
Home Value: $166,600
Rent: $817/mo
Affordability: 146
Population: 10,141
Walk Score: 0/100
4
Home Value: $242,700
Rent: $817/mo
Affordability: 146
Population: 10,322
Walk Score: 0/100
5
Home Value: $154,800
Rent: $817/mo
Affordability: 146
Population: 9,057
Walk Score: 0/100
6
Home Value: $225,500
Rent: $817/mo
Affordability: 146
Population: 28,796
Walk Score: 0/100
7
Home Value: $133,400
Rent: $817/mo
Affordability: 146
Population: 15,595
Walk Score: 0/100
8
Home Value: $204,800
Rent: $817/mo
Affordability: 146
Population: 629,176
Walk Score: 0/100
9
Home Value: $307,400
Rent: $817/mo
Affordability: 146
Population: 17,511
Walk Score: 0/100
10
Home Value: $131,900
Rent: $817/mo
Affordability: 146
Population: 11,998
Walk Score: 0/100
11
Home Value: $130,500
Rent: $817/mo
Affordability: 146
Population: 31,042
Walk Score: 0/100
12
Home Value: $151,800
Rent: $817/mo
Affordability: 146
Population: 60,019
Walk Score: 0/100
13
Home Value: $158,700
Rent: $817/mo
Affordability: 146
Population: 10,143
Walk Score: 0/100
14
Home Value: $146,500
Rent: $817/mo
Affordability: 146
Population: 8,831
Walk Score: 0/100
15
Home Value: $207,800
Rent: $817/mo
Affordability: 146
Population: 31,425
Walk Score: 0/100
Frequently Asked Questions About Affordability in Covington
What is the most affordable neighborhood in Covington, KY?▾
Based on 2026 data, Frankfort is the most affordable neighborhood in Covington with a median home value of $157,300. Kurby analyzed 15 neighborhoods in the Covington area to compile these rankings.
What is the median home price in Covington, KY?▾
The median home price in Covington is $153,600, which is 46% below nat'l avg. The national median home value is $281,900 (Source: Kurby, 2026).
Is Covington affordable compared to the national average?▾
Covington has an affordability index of 146, which means housing is more affordable than the national baseline of 100. An index above 100 indicates that a median-income household can afford a median-priced home in the area.
What is the average rent in Covington, KY?▾
The median monthly rent in Covington is $817. This is 30% below nat'l avg. The national median rent is $1,163/month (Source: Kurby, 2026).
What is the median household income in Covington?▾
The median household income in Covington is $53,770 compared to the national median of $74,580. This metric is important for understanding housing affordability in relation to local earning power (Source: Kurby, 2026).
How many neighborhoods in Covington are below the national average home price?▾
14 out of 15 ranked neighborhoods in Covington have a median home value below the national average of $281,900. The most affordable is Frankfort at $157,300 (Source: Kurby, 2026).