Affordable & Income-Based Housing in Covington

Affordability

According to Census ACS 5-Year data (2024), the median gross rent in Covington is $1,006 per month, the median household income is $61,166 per year, and renters make up 48% of occupied households. With nearly half of residents renting, income-based and HUD-assisted housing plays a meaningful role in the local market.

Safety

According to FBI Crime Data Explorer, the Covington Police Department reported a violent crime rate of 298 per 100,000 residents in 2024. Crime rates are not directly comparable across cities due to differences in reporting practices and local definitions.

Of the 9 HUD-assisted properties in Covington mapped for flood risk, none are located in a high-risk flood zone.

Getting Around Covington

According to Walk Score, the area around assisted properties in Covington rates 46 (Car-Dependent) for walkability, 36 (Some Transit) for transit access, and 59 for bikeability.

Most errands will require a car, though some transit options are available and the area is reasonably bikeable for a mid-sized city.

Schools

According to the NCES Common Core of Data, 16 public schools across 2 districts serve Covington, including 9 elementary, 1 middle, 4 high schools, and 2 other schools. Quality and resources vary by school and district, so renters should check the assigned schools for their specific address.

Cost of Living in Covington, KY

The median household income in Covington is $61,166 per year, according to Census ACS 5-Year data. The median gross rent is $1,006 per month, also per Census ACS 5-Year estimates.

Affordable and income-based housing can significantly reduce housing costs for eligible renters. Covington has 9 HUD-assisted or income-restricted properties with 751 total units, offering an alternative to market-rate rents in the area.

• Median household income: $61,166/year (Census ACS 5-Year)
• Median gross rent: $1,006/month (Census ACS 5-Year)
• Renter households: 48% of occupied units (Census ACS 5-Year)

Flood and Environmental Exposure

All 9 HUD-assisted properties in Covington have been mapped for flood risk. None fall within a high-risk flood zone, which is a reassuring finding for renters concerned about flood exposure.