Cost of Living in Covington, TN
Housing
The housing market plays a significant role in determining the cost of living in Covington, TN.
- Housing Index: 85.0 / 100
- Median Home Price is: $205000
- Average Rent (2 BR Apartment): $1200 per month
- Average Rent (2 BR House): $1000 per month
When considering a move to Covington, TN, it's essential to analyze the housing statistics carefully. With a housing index of 85.0, affordability remains reasonably balanced, indicating that it might be a good time to invest in a property here. The median home price is quite favorable at 205000, while average rents for a 2-bedroom apartment and house stand at 1200 and 1000 respectively. This information suggests a stable market for both renters and buyers, making Covington an appealing option for those looking for a modest cost of living.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Covington, TN.
- Electricity Price: $12.57 USD (median by state)
- Natural Gas Price: $12.35 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $200 per month
Living in Covington, TN could entail higher utility costs. Electricity costs sit at $12.57, while natural gas is priced at $12.35 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $200 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.