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Covington, VA Home Values and Rents
The typical home value in Covington is $171,051, 366th highest of 367 cities and towns in Virginia. Median rent is $794 a month.
- Typical home value
- $171,051
- 366th of 367 in VA
- Median rent
- $794/mo
- ACS 2020-2024
- Price change, 1 year
- +4.9%
- Sep 2026
- Homeownership
- 70.1%
- VA: 67.3%
Typical home value in Covington
Zillow Home Value Index, all homes, middle tier
Show as a table
| Period | Covington |
|---|---|
| Sep 2026 | $171,051 |
| Dec 2025 | $164,427 |
| Dec 2024 | $158,147 |
| Dec 2023 | $145,358 |
| Dec 2022 | $137,608 |
| Dec 2021 | $124,216 |
| Dec 2020 | $114,033 |
| Dec 2019 | $100,435 |
| Dec 2018 | $94,771 |
| Dec 2017 | $96,150 |
| Dec 2016 | $96,253 |
Over five years, Covington prices changed +36.7%.
Source: Zillow Research · Last updated 09/01/2026
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Fair Market Rents, FY2027
HUD rent standard for Alleghany County-Clifton Forge city-Covington city, VA HUD Nonmetro FMR Area
| Unit size | Monthly rent | vs FY2026 |
|---|---|---|
| Studio | $786 | +1.7% |
| 1 bedroom | $790 | +1.5% |
| 2 bedrooms | $943 | +3.2% |
| 3 bedrooms | $1,246 | -1.0% |
| 4 bedrooms | $1,389 | +2.3% |
Frequently asked questions
- What is the typical home value in Covington, VA?
- The typical home value in Covington is $171,051 (Zillow Home Value Index, Sep 2026). The Virginia median is $383,700.
- How much is rent in Covington?
- The median rent in Covington is $794 a month, including utilities paid by the renter. HUD's FY2027 Fair Market Rent for a two-bedroom unit is $943.
- Are home prices going up in Covington?
- The typical home value in Covington changed +4.9% over one year and +36.7% over five years, as of Sep 2026.
- How does Covington compare with the rest of Virginia?
- Covington has the 366th highest median home value of 367 cities and towns with 1,000+ residents in Virginia.