The median home in Covington, Tennessee is valued at $199,385, up 1.0% year over year. Typical monthly rent is $1,100, producing a price-to-rent ratio of 15.1x — near the national average of 18x. Covington is part of the Memphis, TN-MS-AR metropolitan area, which CrashWatch tracks daily with real-time stress scores and crash risk analysis.
See the full metro analysis: Memphis, TN-MS-AR stress score, crash risk, and 12-month forecast →
Home Value$199,385
+1.0%
Rent$1,100/mo
AFFORDABILITYRenting $193/mo cheaper ($1,100 rent)6.50% 30yr, 20% down, county tax + TN ins. 28% per HUD.
Enter your income for Covington.
$39,877 on $199,385
Affordable — 20.7% of income
Under the 28% guideline.
PITI$1,293
P/I20.7%
Afford$270K
Room+$70K
P&I $1,008Tax $118Ins $167
Home Buying Kit For Dummies (2025)Financing, negotiation, closing
Other cities in Tennessee
Compare Covington with other housing markets across Tennessee.
Full Memphis, TN-MS-AR analysis
Stress scores, crash risk, early warning signals, and 12-month price forecasts for the Memphis, TN-MS-AR metro.
View Memphis, TN-MS-AR metro →