The Farm at Taylor Mill
5142 Old Taylor Mill Rd,
Taylor Mill, KY 41015
1-2 Beds | $1,425 - $1,960
Rental Market Trends in Covington, KY
Updated September 2026
The average rent in Covington, KY is $1,456/month.
Rent in Covington is roughly equal to the national average rent of of $1,665/month.
$1,456/month
Average Rent
700 Sq Ft
Average Size
+2.3%
Change / Year
876
Available Apartments
Covington rent varies by unit size and layout:
- Studio apartments in Covington average $1,330 per month.
- One-bedroom apartments in Covington average $1,456 per month.
- Two-bedroom apartments in Covington average $1,880 per month.
- Three-bedroom apartments in Covington average $1,684 or more per month.
Average Rent by Home Type
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
How much has average rent changed in Covington, KY?
In the past year, rent has increased by 2.3%, which averages out to $34 more per month.
Market Trends Over Time
September 2026
2025
2026
Rent Ranges in Covington, KY
September 2026
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
19%
Below $700/month
16%
$700 - $1,000/month
30%
$1,001 - $1,500/month
27%
$1,501 - $2,000/month
8%
Above $2,000/month
Rent by Neighborhood
What are the most affordable neighborhoods in Covington?
Based on current rent prices, Downtown Covington is the most affordable neighborhood in Covington.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Covington?
Based on current rent prices, Downtown Covington is the most expensive neighborhood in Covington.
Neighborhood
Average Rent
Average Sq Ft
Which Covington neighborhoods have the most rentals available?
The neighborhood in Covington with the most apartments available is Downtown Covington .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Covington, KY?
Because the average rent in Covington is $1,456, you’ll want to make about $4,853 per month or $58,236 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
Cost of Living
The cost of living in Covington, KY is 12.9% lower than the national average. Generally, housing in Covington is 27.9% less expensive than the national average, with rent falling between $1,330 - $1,880. You can expect to pay 10.8% less for groceries, 6.7% less for utilities, and 2.2% more for transportation.
How does Covington, KY compare to other nearby cities and neighborhoods?
Use the tool below to compare Covington, KY to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
View the Covington Area GuideStudio
$1,359/month
$1,359/month
One Bedroom
$1,677/month
$1,677/month
Two Bedroom
$2,171/month
$2,171/month
Three Bedroom
$1,629/month
$1,629/month
Compare Rent Trends Nearby
Get a clearer picture of the area by viewing rent trends in nearby cities.
-
Fort Wright
Avg Rent: $1,281/month
-
Wilder
Avg Rent: $1,468/month
-
Taylor Mill
Avg Rent: $1,027/month
-
Fort Mitchell
Avg Rent: $957/month
-
Lakeside Park
Avg Rent: $1,100/month
-
Park Hills
Avg Rent: $992/month
Apartment Communities in Covington We Think You'll Love
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Frequently Asked Questions
What is the average rent in Covington?
The average rent in Covington is $1,456 per month, which is 12.6% lower than the national average of $1,665.
What is the average rent for a house in Covington?
The average rent for a house in Covington, KY is $2,087 per month.
What is the average rent for a condo in Covington?
The average rent for a condo in Covington, KY is $1,376 per month.
Are rents going up or down in Covington?
Rents in Covington, KY are increasing, with prices up 2.3% year-over-year and $34 more per month.
What rent range is most common in Covington?
In Covington, KY, 30% of apartments fall between $1,001 - $1,500/month, though prices may vary depending on location and other factors.
Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in September 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.
* Percentages may not total 100 due to rounding.