Covington, LA

Average · 95

Louisiana · Population 11,568 · Updated March 2026

$1,374
Median Rent / Month
$73,809
Median Income
$292,500
Median Home Value
$1,358
Owner Costs / Month

Affordability

How far your income goes in Covington

22.3%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Louisiana

State-level tax rates that affect your costs

4.25%
Income Tax (Top Rate)
4.45%
Sales Tax
0.55%
Property Tax Rate

Estimated Annual Costs

$16,488
Annual Rent
$3,137
State Income Tax
$1,609
Property Tax (est.)

Cost of Living Overview

Covington has a cost of living close to the national average, offering a balanced mix of expenses and amenities. With a cost index of 95 (where 100 equals the national median), Covington residents can expect to pay median rent of $1,374/month while earning a median household income of $73,809/year.

The median home value in Covington, LA is $292,500, with typical monthly owner costs around $1,358 including mortgage, insurance, and taxes. The median rent-to-income ratio of 22.3% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Louisiana has a moderate income tax rate of 4.25%. Combined with a 4.45% sales tax rate and 0.55% 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, LA?
The cost of living index in Covington, LA is 95 (US average = 100). Median monthly rent is $1,374, median household income is $73,809/year, and the median home value is $292,500.
Is Covington, LA affordable?
Yes, Covington is more affordable than the national average with a cost index of 95. The rent-to-income ratio is 22.3%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Covington, LA?
The median gross rent in Covington, LA is $1,374 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $16,488.
What is the median household income in Covington?
The median household income in Covington, LA is $73,809 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Louisiana?
Louisiana has a top income tax rate of 4.25%, a sales tax of 4.45%, and an effective property tax rate of 0.55%.