Covington, GA

Below Avg · 80

Georgia · Population 14,334 · Updated March 2026

$1,162
Median Rent / Month
$47,797
Median Income
$242,700
Median Home Value
$1,168
Owner Costs / Month

Affordability

How far your income goes in Covington

29.2%
Rent-to-Income Ratio
Moderate
Rent takes 25-35% of median income — moderate affordability.

Tax Burden in Georgia

State-level tax rates that affect your costs

5.49%
Income Tax (Top Rate)
4.0%
Sales Tax
0.92%
Property Tax Rate

Estimated Annual Costs

$13,944
Annual Rent
$2,624
State Income Tax
$2,233
Property Tax (est.)

Cost of Living Overview

Covington is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 80 (where 100 equals the national median), Covington residents can expect to pay median rent of $1,162/month while earning a median household income of $47,797/year.

The median home value in Covington, GA is $242,700, with typical monthly owner costs around $1,168 including mortgage, insurance, and taxes. With a rent-to-income ratio of 29.2%, Covington falls within the generally affordable range, though it's approaching the 30% burden threshold.

Georgia has a moderate income tax rate of 5.49%. Combined with a 4.0% sales tax rate and 0.92% effective property tax rate, the overall tax environment is a factor in the total cost of living in Covington.

Frequently Asked Questions

Common questions about living costs in Covington

What is the cost of living in Covington, GA?
The cost of living index in Covington, GA is 80 (US average = 100). Median monthly rent is $1,162, median household income is $47,797/year, and the median home value is $242,700.
Is Covington, GA affordable?
Yes, Covington is more affordable than the national average with a cost index of 80. The rent-to-income ratio is 29.2%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Covington, GA?
The median gross rent in Covington, GA is $1,162 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $13,944.
What is the median household income in Covington?
The median household income in Covington, GA is $47,797 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Georgia?
Georgia has a top income tax rate of 5.49%, a sales tax of 4.0%, and an effective property tax rate of 0.92%.