Disclaimer: Covid-19 may have impacted rent prices in a way that is not yet reflected in our reports. When referencing the data published on this page, please keep in mind that the data provided here may not accurately depict the current reality of the market.
Covington, KY Rental Market Trends
What is the average rent in Covington?
The average rent for an apartment in Covington is $1,251. The cost of rent varies depending on several factors, including location, size, and quality.
Average Rent in Covington, KY
Last updated May 2022
| Average Rent | Average Apartment Size |
|---|---|
| $1,251 | 893 sq. ft. |
What is the average apartment size in Covington?
The average size for a Covington, KY apartment is 893 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.
Covington, KY Apartment Rent Ranges
Covington, KY Occupied Housing Units
8,791 or 50% of the households in Covington, KY are renter-occupied while 8,606 or 49% are owner-occupied.
Covington, KY Rent Trends
| Average Rent | Mar / 2019 | Jul / 2019 | Nov / 2019 | Mar / 2020 | Jul / 2020 | Nov / 2020 | Mar / 2021 | Jul / 2021 | Nov / 2021 | May / 2022 |
|---|---|---|---|---|---|---|---|---|---|---|
| Covington, KY | $858 | $897 | $1,130 | $1,117 | $1,127 | $1,116 | $1,109 | $1,172 | $1,196 | $1,251 |
| National | $1,367 | $1,399 | $1,407 | $1,409 | $1,399 | $1,403 | $1,412 | $1,495 | $1,591 | $1,628 |
How Covington Compares to Other Cities
| City | Average Rent |
|---|---|
| Cincinnati | $1,167 |
| Louisville | $1,096 |
| Lexington | $1,068 |
| Florence | $1,133 |
| Covington | $1,251 |
| Ft Mitchell | $965 |
| Blue Ash | $1,355 |
| Forest Park | $1,016 |
| Burlington | $1,141 |
| Erlanger | $1,001 |
| Newport | $1,188 |
| Shepherdsville | $851 |
| North College Hill | $950 |
| Nicholasville | $1,056 |
| Fort Wright | $1,285 |
| Mount Healthy | $1,086 |
| Oakbrook | $1,133 |
| Reading | $1,084 |
| Frankfort | $819 |
| Hebron | $1,151 |
| Independence | $1,154 |
Most Popular Apartments in Covington
Eclipse Properties
1530 Amsterdam Rd, Ft Wright, KY 41011- 1 BED
- 2 BEDS
- 3+ BEDS
- Ask for pricing
- $800
- $1,100
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Covington apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.