Cost of Living in Covington, KY
Housing
The housing market plays a significant role in determining the cost of living in Covington, KY.
- Housing Index: 115.0 / 100
- Median Home Price is: $215,000
- Average Rent (2 BR Apartment): $1200 per month
- Average Rent (2 BR House): $1250 per month
If you're considering a move to Covington, KY, it's important to evaluate the local housing conditions. With a housing index of 115.0, this indicates that prices are relatively higher compared to some areas. The median home price stands at 215000, making homeownership achievable yet potentially competitive. Renting options are available, with an average rent for a 2-bedroom apartment at 1200 and a house at 1250. Overall, understanding these figures will guide a well-informed decision on whether to rent or buy in this region.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Covington, KY.
- Electricity Price: $12.87 USD (median by state)
- Natural Gas Price: $22.78 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in Covington, KY could entail higher utility costs. Electricity costs sit at $12.87, while natural gas is priced at $22.78 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $250 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Covington is a financially viable option for your relocation.