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Featured local agent — Covington, TN
Sarah Mitchell
Compass Real Estate · Covington, TN
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Covington, TN Housing Market & Real Estate
Housing market overview · Updated monthly ·
$197,750median sale price
How is the Covington, TN housing market right now?
The median home sale price in Covington, TN is $197,750, up 16.3% year-over-year. Homes sell in an average of 115 days with 34 active listings. The market is currently a buyer's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Covington a buyer's or seller's market?
Covington, TN is currently a buyer's market, based on 8.5 months of supply and homes selling in about 115 days. How we determine this →
Homes sold
4
Last 12 weeks
Days on market
115
Average pace
Active listings
34
8.5 months supply
Sale-to-list
98.2%
Below asking
What does the Covington housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $197,750 |
| Median list price | $192,700 |
| Year-over-year price change | +16.3% |
| Average days on market | 115 days |
| Active inventory | 34 listings |
| Months of supply | 8.5 months |
| Sale-to-list price ratio | 98.2% |
| Median price per sq ft | $132/sq ft |
| Homes sold (latest month) | 4 |
| New listings (latest month) | 8 |
| Listings with a price cut | 29.4% |
| Market condition | Buyer's market |
Source: Redfin · Updated monthly
How much do homes cost in Covington by property type?
How the Covington, TN market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $197,750 | $132/sq ft | 4 | 115 days |
| Townhouse | $286,000 | $159/sq ft | 1 | 8 days |
Source: Redfin · Updated monthly
The Covington housing market is currently classified as a buyer's market with a median sale price of $197,750. Prices have risen 16.3% compared to last year, with homes spending an average of 115 days on market, indicating 8.5 months of inventory.This inventory level gives buyers significantly more negotiating power, allowing time to inspect properties thoroughly and potentially negotiate better terms.The price-to-income ratio of 4.9x provides context for how home values compare to local earning capacity.
Homes for sale in Covington
There are currently 34 homes listed for sale in Covington, Tennessee. The median listing price is $193K.
Active listings
34
Homes on market
Median list price
$193K
Avg. days on market
115
Days until sale
New this week
8
Newly listed
Who lives in Covington?
Population
8,612
Median income
$43,512/yr
Median age
35.1 years
Owner-occupied
48.2%
College grads
13.2%
Avg commute
27.2 min
Source: U.S. Census Bureau ACS
What are homes worth in Covington?
Zillow home value
$212,662
Zillow rent index
$1,100/mo
Price-to-rent ratio
16.1x
Price-to-income
4.9x
Source: Zillow Research
What is it like to live in Covington?
Covington is a community of approximately 9K residents with a median age of 35.1 years.The median household income is $43,512, which represents a working-class community with solid middle-income opportunities. 13.2% of residents hold a bachelor's degree or higher, showing a mixed educational demographic.
Homeownership rates are at 48.2%, showing a blend of owner and renter-occupied properties. The average commute time is 27.2 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Covington offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Covington?
6 schools tracked · 2,903 students
The largest public schools serving Covington, TN by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Covington High School
Grades 9-12 · 657 students
Crestview Elementary
Grades PK-5 · 586 students
Austin Peay Elementary School
Grades PK-5 · 571 students
Charger Academy
Grades PK-5 · 508 students
Crestview Middle School
Grades 6-8 · 502 students
Tipton County Alternative Learning Center
Grades K-12 · 79 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Covington, TN?
Want a head-to-head view? Compare Covington side-by-side with any other U.S. city using our market-comparison tool.
Is Covington a good real estate investment market?
For investors evaluating Covington, the price-to-rent ratio of 16.1x indicates higher purchase prices relative to rental income, typical of appreciation-focused markets. The market has appreciated 16.3% year-over-year, reflecting ongoing demand and value growth.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Covington's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Covington's median home price.
Frequently asked questions
What is the average home price in Covington?
The median home sale price in Covington is $197,750, up 16.3% from last year.
How long do homes stay on market in Covington?
Homes typically spend 115 days on market before going under contract.
What is the median income in Covington?
The median household income is $43,512 per year.
Is Covington a buyer's or seller's market?
With 8.5 months of supply, Covington is currently a buyer's market.
What is the Zillow home value estimate for Covington?
The Zillow Home Value Index (ZHVI) for Covington is $212,662, representing the typical home value in the area.
How much does a single-family home cost in Covington?
The median single-family home price in Covington, TN is $197,750 (about $132 per square foot).
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