Covington, IN
Population 3,112 · Indiana
About Covington, IN
Covington is a small town located in Indiana with a population of 3,112 residents according to the latest US Census Bureau American Community Survey data. The median household income is $54,962 per year, which is 27% below the national median of $75,149. The median age of 42.5 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Covington features a median home value of $162,100, which is 34% below the national median of $244,900. This positions Covington in a moderately priced market relative to the rest of the country. Median monthly rent is $841, 28% below the national average of $1,163/month. Of the 1,442 total housing units, 65% are owner-occupied (851 units) and 35% are renter-occupied (456 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Covington shows an unemployment rate of 4.0%, which is near the national rate of 3.7%. The poverty rate stands at 14.5%, above the national average of 12.4%. Workers in Covington have an average one-way commute time of 16.3 minutes, one of the shorter commutes in the region.
Education & Demographics
18.2% of Covington residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 2.1% White, 0.6% Hispanic or Latino, 1.3% Black or African American, and 1.7% Asian residents, with 1.4% of the population being foreign-born.
Cost of Living in Covington, IN
Compared to national averages, Covington has a median household income of $54,962 (27% below the national median of $75,149). Home values average $162,100, which is 34% below the national median. Monthly rent at $841 is 28% below the US average of $1,163. Within Indiana, Covington's income is 21% below the state average of $69,330, and home values are 1% below the state median of $163,409.
Why Live in Covington, IN?
Covington offers affordable housing with a median home value of $162,100, below the US average of $244,900, and rent that’s lower than the national average at $841/month, and short commute times averaging just 16.3 minutes.
Potential considerations include median household income ($54,962) that falls below the national average. However, Covington’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Covington has a population of 3,112 with a median age of 42.5 years. Compare Covington with other cities to see how it stacks up, or explore all cities in Indiana.
Similar Cities Near Covington
Cities in Indiana with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Corydon | 3,165 | $57,002 | $162,300 | Compare |
| Shorewood Forest | 3,030 | $151,382 | $449,400 | Compare |
| New Palestine | 3,027 | $93,170 | $320,300 | Compare |
| Brownstown | 3,020 | $62,222 | $138,100 | Compare |
| Country Squire Lakes | 3,211 | $56,806 | $28,600 | Compare |
| Attica | 3,221 | $66,081 | $116,300 | Compare |
| Smithville-Sanders | 3,228 | $72,331 | $256,900 | Compare |
| Roselawn | 3,231 | $80,061 | $185,200 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Indiana
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Covington With Other Cities
Frequently Asked Questions about Covington
What is the population of Covington, IN?
The population of Covington, IN is 3,112 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Indiana.
What is the median household income in Covington?
The median household income in Covington, IN is $54,962 per year, which is 27% below the national median of $75,149.
What is the median home value in Covington?
The median home value in Covington, IN is $162,100, which is 34% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Covington?
The median monthly rent in Covington, IN is $841, which is 28% below the national average of $1,163/month.
What is the unemployment rate in Covington?
The unemployment rate in Covington, IN is 4.0%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Covington, IN a good place to live?
Covington offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 3,112 and a median age of 42.5, the city appeals to a broad range of residents.
How educated is Covington, IN?
18.2% of residents in Covington aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Covington?
Key cost-of-living indicators for Covington, IN: median home value is $162,100 (34% below national), median rent is $841/month, and median household income is $54,962. The home-value-to-income ratio is 2.9x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Covington?
The poverty rate in Covington, IN is 14.5%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Covington, IN?
Covington's population is 2.1% White, 0.6% Hispanic or Latino, 1.3% Black or African American, 1.7% Asian, and 1.4% two or more races. 1.4% of residents are foreign-born.