Covington, VA Cost Of Living

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

Cost Of Living In Covington, VA 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 Virginia, 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 78, with 100 being the average.

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

  • Covington ranks as the #1 cheapest in Virginia out of 186.

  • Covington ranks as the #113 cheapest out of 6,412 in the US.

  • The median home value in Covington is $69,800.

  • The median income in Covington is $41,242.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
78
Covington's Overall Cost Of Living
0.8x
Lower Than The National Average

What is the cost of living in Covington, VA?

According to the most recent data on the cost of living, Covington has an overall cost of living index of 78, which is 0.8x lower than the national index of 100.

Compared to Virginia, Covington has a cost of living index that's 0.8x lower than Virginia's index of 102.

The standard of living in Covington ranks as #1 most affordable out of the 186 places we measured in Virginia. By definition, that implies Covington ranks as the #185 most expensive place in the Old Dominion.

For more reading on life in Covington, check out:

1 out of 186
In Virginia
113 out of 6,412
In America

Covington Cost Of Living Vs. Virginia

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 95.

  • The Groceries index in Covington is 89.

  • The Health index in Covington is 99.

  • The Housing index in Covington is 47.

  • The Transportation index in Covington is 93.

  • The Utilities index in Covington is 105.

Living Expense Covington Virginia National Average
Overall 78 102 100
Services 95 102 100
Groceries 89 98 100
Health 99 102 100
Housing 47 107 100
Transportation 93 95 100
Utilities 105 102 100
For more reading on cost of living around Virginia, check out:
Covington Cost of Living Vs. VA

Covington, VA Housing Cost Breakdown

Housing swings affordability the most between places in Virginia, 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 $69,800.

  • The Median Rent in Covington is $802.

  • The Median Income in Covington is $41,242.

  • The Home Value To Income in Covington is 1.7x.

  • The Rent To Monthly Income in Covington is 0.23x.

Statistic Covington Virginia United States
Median Home Value $69,800 $295,500 $244,900
Median Rent $802 $1,326 $1,163
Median Income $41,242 $80,615 $69,021
Home Value To Income 1.7x 3.7x 3.5x
Rent To Monthly Income 0.23x 0.2x 0.2x
Search Homes For Sale In Covington, VA
$69,800
Median Home Value
$802
Median Rent
$41,242
Median Income

Covington, VA Costs By Category

Detailed Covington Services Costs Vs. Virginia

Item Covington Virginia
Shampoo $1.03 $1.06
Movie $7.99 $10.68
Bowling $11.55 $14.67
Haircut $18.66 $18.62
Beauty Salon $35.38 $39.05

Detailed Covington Groceries Costs Vs. Virginia

Item Covington Virginia
Ground Beef $4.13 $4.22
Fried Chicken $1.11 $1.39
Milk $2.05 $2.05
Potatoes $3.01 $3.29
Pizza $10.35 $10.62
Beer $10.09 $9.38
Toothpaste $1.88 $2.34

Detailed Covington Health Costs Vs. Virginia

Item Covington Virginia
Optometrist $107.5 $108.57
Doctor $104.17 $116.17
Dentist $103.5 $99.13

Detailed Covington Transportation Costs Vs. Virginia

Item Covington Virginia
Gasoline $2.18 $2.22
Tire Balancing $39.17 $50.07

Detailed Covington Utilities Costs Vs. Virginia

Item Covington Virginia
All Electricity $182.71 $167.67
Phone $177.97 $175.64

Covington SnackAbility

5
/10
Overall SnackAbility
Jobs
7/10
Housing
4
Affordability
8
Diversity
8
Safety
7
Amenities
8
Education
5
Commute
9.5

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:

  • Roanoke, VA has a cost of living index of 87, 1.1x Covington.

  • Blacksburg, VA has a cost of living index of 107, 1.4x Covington.

  • Salem, VA has a cost of living index of 93, 1.2x Covington.

City Population Cost Of Living Vs. Covington
Roanoke, VA 99,578 87 1.1x
Blacksburg, VA 44,385 107 1.4x
Salem, VA 25,335 93 1.2x
Cave Spring, VA 25,248 98 1.3x
Christiansburg, VA 23,174 94 1.2x
Hollins, VA 15,857 92 1.2x
Vinton, VA 8,039 85 1.1x
Lexington, VA 7,287 102 1.3x
Buena Vista, VA 6,649 84 1.1x

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