Covington, TN Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

Cost Of Living In Covington, TN Summary

Cost of living in Covington research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Covington is expensive. An index value below 100 means the city is a relatively cheap place to live.

On a city-by-city basis in Tennessee, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:

  • The cost of living index in Covington is 79, with 100 being the average.

  • The cost of living index in Covington is 0.8x lower than the national average.

  • Covington ranks as the #9 cheapest in Tennessee out of 105.

  • Covington ranks as the #155 cheapest out of 6,412 in the US.

  • The median home value in Covington is $118,900.

  • The median income in Covington is $32,205.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
79
Covington's Overall Cost Of Living
0.8x
Lower Than The National Average

What is the cost of living in Covington, TN?

According to the most recent data on the cost of living, Covington has an overall cost of living index of 79, which is 0.8x lower than the national index of 100.

Compared to Tennessee, Covington has a cost of living index that's 0.9x lower than Tennessee's index of 90.

The standard of living in Covington ranks as #9 most affordable out of the 105 places we measured in Tennessee. By definition, that implies Covington ranks as the #96 most expensive place in the Volunteer State.

For more reading on life in Covington, check out:

9 out of 105
In Tennessee
155 out of 6,412
In America

Covington Cost Of Living Vs. Tennessee

Six factors go into calculating the cost of living index in Covington. Here is how it fairs on each of the criteria:

  • The Services index in Covington is 92.

  • The Groceries index in Covington is 89.

  • The Health index in Covington is 82.

  • The Housing index in Covington is 59.

  • The Transportation index in Covington is 88.

  • The Utilities index in Covington is 87.

Living Expense Covington Tennessee National Average
Overall 79 90 100
Services 92 93 100
Groceries 89 96 100
Health 82 88 100
Housing 59 82 100
Transportation 88 90 100
Utilities 87 93 100
For more reading on cost of living around Tennessee, check out:
Covington Cost of Living Vs. TN

Covington, TN Housing Cost Breakdown

Housing swings affordability the most between places in Tennessee, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:

  • The Median Home Value in Covington is $118,900.

  • The Median Rent in Covington is $787.

  • The Median Income in Covington is $32,205.

  • The Home Value To Income in Covington is 3.7x.

  • The Rent To Monthly Income in Covington is 0.29x.

Statistic Covington Tennessee United States
Median Home Value $118,900 $193,700 $244,900
Median Rent $787 $951 $1,163
Median Income $32,205 $58,516 $69,021
Home Value To Income 3.7x 3.3x 3.5x
Rent To Monthly Income 0.29x 0.2x 0.2x
Search Homes For Sale In Covington, TN
$118,900
Median Home Value
$787
Median Rent
$32,205
Median Income

Covington, TN Costs By Category

Detailed Covington Services Costs Vs. Tennessee

Item Covington Tennessee
Shampoo $0.91 $1.06
Movie $11.5 $10.68
Bowling $16.47 $14.67
Haircut $15.07 $18.62
Beauty Salon $36.63 $39.05

Detailed Covington Groceries Costs Vs. Tennessee

Item Covington Tennessee
Ground Beef $3.42 $4.22
Fried Chicken $0.98 $1.39
Milk $1.79 $2.05
Potatoes $3.62 $3.29
Pizza $10.37 $10.62
Beer $9.22 $9.38
Toothpaste $1.65 $2.34

Detailed Covington Health Costs Vs. Tennessee

Item Covington Tennessee
Optometrist $74.47 $108.57
Doctor $84.25 $116.17
Dentist $77.68 $99.13

Detailed Covington Transportation Costs Vs. Tennessee

Item Covington Tennessee
Gasoline $1.94 $2.22
Tire Balancing $40.73 $50.07

Detailed Covington Utilities Costs Vs. Tennessee

Item Covington Tennessee
All Electricity $133.97 $167.67
Phone $184.96 $175.64

Covington SnackAbility

5
/10
Overall SnackAbility
Jobs
5/10
Housing
5
Affordability
5
Diversity
9
Safety
2
Amenities
8
Education
5
Commute
6

Cost Of Living In Cities Around Covington

The cost of living varies in the cities and towns around Covington. Here's a quick look at the cost of living in the most populous nearby places:

  • Bartlett, TN has a cost of living index of 93, 1.2x Covington.

  • Southaven, MS has a cost of living index of 88, 1.1x Covington.

  • Collierville, TN has a cost of living index of 107, 1.4x Covington.

City Population Cost Of Living Vs. Covington
Bartlett, TN 57,639 93 1.2x
Southaven, MS 54,141 88 1.1x
Collierville, TN 50,669 107 1.4x
Germantown, TN 40,955 108 1.4x
Olive Branch, MS 39,136 94 1.2x
Horn Lake, MS 26,623 83 1.1x
Arlington, TN 14,158 103 1.3x
Atoka, TN 9,863 95 1.2x
Oakland, TN 8,805 96 1.2x
Ripley, TN 7,856 77 1.0x

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