Last updated
Average Rent in Covington, KY & Rent Trends
Rent prices and market trends across 1 apartment community in Covington, KY. Updated daily.
Market Average
$2,620/mo
Lowest Available
$1,655/mo
cheapest unit on market
Communities
1
tracked daily
Units Listed
11
available now
Price Cuts This Week in Covington, KY
5 listed units across 1 building in Covington, KY dropped their asking rent in the past 7 days, an average cut of $580/mo. These are the largest cuts, tracked unit by unit with daily price checks.
| Apartment | Unit | Last Week | Now | Cut |
|---|---|---|---|---|
| Madison Place Apartments | Unit 32 | $3,180 | $2,345 | $835 |
| Madison Place Apartments | Unit 46 | $3,385 | $2,625 | $760 |
| Madison Place Apartments | Unit 39 | $3,795 | $3,180 | $615 |
| Madison Place Apartments | Unit 18 | $2,100 | $1,655 | $445 |
| Madison Place Apartments | Unit 25 | $2,345 | $2,100 | $245 |
Is Rent Going Up or Down in Covington, KY?
As of August 2026, the average rent in Covington, KY is $2,620 per month across 1 apartment community and 11 available units.
The most affordable option is Madison Place Apartments starting at $1,655/mo. By unit type, a studio averages $2,620/mo.
Prices range from $1,655 to $3,795 per month. The most common price point is the $2,200 range, where 2 units are currently listed.
Rent Price Distribution
Rent by Bedroom Type in Covington, KY
Rent Prices by Apartment in Covington, KY
| Property | Starting at | Average | Units | Rating |
|---|---|---|---|---|
| Madison Place Apartments | $1,655/mo | $2,620/mo | 11 | 4.8 |
Frequently Asked Questions About Rent in Covington, KY
What is the average rent in Covington, KY?
Is rent going up or down in Covington, KY?
What is the cheapest apartment in Covington, KY?
How many apartments are available in Covington, KY?
What salary do I need to live comfortably in Covington, KY?
Built on the 25 to 30 percent rent-to-income guideline used by most landlords and credit-scoring models.
Minimum to afford average rent
$105,000/year
Based on the 30 percent rule, using our tracked average rent of $2,620/mo.
Comfortable income
$126,000/year
Based on the 25 percent rule, leaving more room for savings, transport, and groceries.
To afford the cheapest tracked apartment ($1,655/mo), you need to earn at least $66,000/year.
Cost of living in Covington, KY
We only have live rent data for Covington, KY so far. The full cost of living breakdown (utilities, groceries, transportation, healthcare) is coming soon.
| Category | Monthly estimate |
|---|---|
| Rent (market average) | $2,620 |
| Estimated total | $2,620/mo |
Methodology
Rent data
Sourced directly from each tracked apartment community and refreshed every 24 hours. Every listed unit price on this page is real and listed today.
Cost of living
Estimates combine national consumer-spending baselines from the U.S. Bureau of Labor Statistics (Consumer Expenditure Survey) with the U.S. Bureau of Economic Analysis Regional Price Parities (MARPP dataset). Both are peer-reviewed federal data releases published annually.
Salary to live comfortably
Applies the standard 25 to 30 percent rent-to-income rule on top of the listed rent. This is the same affordability guideline used by most landlords and credit-scoring models.
Demographic figures
Median household income, population, median age, commute time, Census median rent, and rent as percentage of income come from the U.S. Census Bureau's American Community Survey 5-year estimates, the most recent complete release.
Cost of living and demographic figures are refreshed annually.
Google Search Trends for Covington, KY Apartments
Search interest for apartments in this area over the past 12 months.
Search Interest Over Time
Explore Covington, KY Apartments
Browse all 1 communities with daily-updated pricing and availability.