Indiana is where the past meets the present, and the great outdoors is right at your fingertips. Get to know the rich cultural heritage of this Midwestern gem by visiting incredible museums like the Eiteljorg Museum of American Indians and Western Art, or check out the top universities like Purdue University and Indiana University. Indiana is a hub of economic activity, with its thriving manufacturing, agriculture, and transportation industries.

The state also offers plenty of opportunities for those seeking adventure and excitement. From exploring the beautiful state parks to fishing in its many lakes and rivers, Indiana is a nature-lovers paradise from the Hoosier National Forest to the Ohio River. And for sports fans, check out the Indianapolis Colts (NFL) and Indiana Pacers (NBA) or catch a game at universities like Purdue or Indiana. In addition, discover famous attractions like the Indianapolis Motor Speedway, home of the world-famous Indianapolis 500 race, the Children's Museum of Indianapolis, and the historic town of Brown County.

With its strong economy, quality education, and lively atmosphere, Indiana is the perfect place to live.

Rental Market Trends

Covington, IN

As of August 2025, Covington's rental market is competitive, with strong renter demand causing quick leasing times for well-priced units. Covington's average rent is 32.8% ($409) lower than the Indiana average of $1,247 and 53.2% ($952) lower than the U.S. average of $1,790.

Average Rent

$838

Monthly ChangeMonth Over Month Change

26% ($173)

Yearly ChangeYear Over Year Change

1.4% ($12)

Avg. Days on MarketAverage Days on Market

Unit Type	Average Rent	Monthly ChangeMonth Over Month Change	Yearly ChangeYear Over Year Change
1 Bed	$777	19.7% ($128)	0.8% ($6)
2 Beds	$905	20.8% ($156)	2.1% ($19)
3 Beds	$1,131	24.4% ($222)	2.4% ($28)

Nearby Cities	Average Rent	Avg. Rent vs. CovingtonAverage Rent vs. Covington	Avg. Days on MarketAverage Days on Market
Veedersburg	$654	22% ($184)	32 days
Danville	$774	7.6% ($64)	37 days
Hillsboro	$718	14.3% ($120)	34 days
Attica	$699	16.6% ($139)	31 days

Rental market trends are calculated using listing data from RentalSource.

Frequently Asked Questions

Covington Rental Market FAQs

Explore rental prices, market trends, and availability in Covington, IN.

What is the average rent in Covington, IN?

The average rent in Covington, IN is $838 per month.

What is the rental price range for homes in Covington, IN?

Homes in Covington typically rent for between $600 and $1,470 per month, with an average of $838 per month.

What is the average rent for different bedroom sizes in Covington, IN?

In Covington, the average rent for a 1-bedroom home is $777 per month, for a 2-bedroom home, $905 per month, and a 3-bedroom home is $1,131 per month.

How do rent prices in Covington, IN compare with the national average?

The average rent in Covington is 53.2% ($952) lower than the national average of $1,790 per month.

How have rent prices in Covington, IN changed recently?

The average rent in Covington has increased by 26.0% ($173) in the last month and decreased by 1.4% ($12) over the past year.

How competitive is the rental market in Covington, IN?

The rental market in Covington, IN, is currently competitive, with strong renter demand causing quick leasing times for well-priced units.

How long do rentals stay on the market in Covington, IN?

In Covington, IN, the average rental stays on the market for approximately 34 days. While most properties are rented within this timeframe, factors like seasonality, demand, and property type can affect how quickly a rental leases.

How many rental properties are available in Covington, IN?

There are currently 2 rental properties available in Covington, IN.

Can I afford to rent a home in Covington, IN?

Based on the current averages, a household would need an annual income of $36,200 to comfortably afford a 2-bedroom home in Covington.