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Covington, TN Home Values and Rents
The typical home value in Covington is $204,937, 193rd highest of 304 cities and towns in Tennessee. Median rent is $1,063 a month.
- Typical home value
- $204,937
- 193rd of 304 in TN
- Median rent
- $1,063/mo
- Zillow observed rent
- Price change, 1 year
- +2.2%
- Sep 2026
- Homeownership
- 45.3%
- TN: 66.9%
Home sale prices in the Memphis, TN-MS-AR area
Zillow median sale price, Sep 2026
$238,232+5.7% from a year earlier
Half of homes in the metro area sold for more and half for less. Zillow publishes sale prices for metro areas, not for single counties or cities.
Typical home value in Covington
Zillow Home Value Index, all homes, middle tier
Show as a table
| Period | Covington |
|---|---|
| Sep 2026 | $204,937 |
| Dec 2025 | $203,158 |
| Dec 2024 | $202,048 |
| Dec 2023 | $190,508 |
| Dec 2022 | $184,225 |
| Dec 2021 | $168,237 |
| Dec 2020 | $146,561 |
| Dec 2019 | $133,959 |
| Dec 2018 | $119,064 |
| Dec 2017 | $110,033 |
| Dec 2016 | $106,984 |
| Dec 2015 | $101,356 |
| Dec 2014 | $96,246 |
| Dec 2013 | $95,062 |
| Dec 2012 | $92,574 |
Over five years, Covington prices changed +28.5%.
Source: Zillow Research · Last updated 09/01/2026
Fair Market Rents, FY2027
HUD rent standard for Memphis, TN-MS-AR HUD Metro FMR Area
| Unit size | Monthly rent | vs FY2026 |
|---|---|---|
| Studio | $1,095 | +3.3% |
| 1 bedroom | $1,191 | +3.2% |
| 2 bedrooms | $1,301 | +2.1% |
| 3 bedrooms | $1,717 | +2.0% |
| 4 bedrooms | $1,981 | +1.1% |
Frequently asked questions
- What is the typical home value in Covington, TN?
- The typical home value in Covington is $204,937 (Zillow Home Value Index, Sep 2026). The Tennessee median is $286,700.
- How much is rent in Covington?
- The median rent in Covington is $1,063 a month (Zillow Observed Rent Index). HUD's FY2027 Fair Market Rent for a two-bedroom unit is $1,301.
- Are home prices going up in Covington?
- The typical home value in Covington changed +2.2% over one year and +28.5% over five years, as of Sep 2026.
- How does Covington compare with the rest of Tennessee?
- Covington has the 193rd highest median home value of 304 cities and towns with 1,000+ residents in Tennessee.