Cost of Living in Covington, TN

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12%
Overall NAT. AVG.
0%
Groceries NAT. AVG.
32%
Housing NAT. AVG.
Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
The cost of living index is based on a national average of 100. For example, if the cost of living score is 90, then the estimated cost of living is 10% lower than the national average. If the score is 110, then the estimated cost of living is 10% higher than average. The overall index is calculated using weighted estimates across major everyday expense categories, including housing (30%), groceries (16%), transportation (12%), healthcare (10%), utilities (8%), lifestyle and entertainment (8%), household expenses (8%), and education and childcare (8%). All values are AI-assisted city-level estimates designed for directional comparisons.
Index Covington Tennessee National
Cost of living8892100
Groceries10098100
Health care9897100
Housing6880100
Transportation9697100
Utilities9598100
Lifestyle & Entertainment9797100
Household Items9798100
Education & Childcare9497100
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Homes For Sale In Covington, TN

property for sale

1095 Culbreath Rd

Covington, TN
property for sale

378 Holly Grove Rd

Covington, TN
property for sale

Mount Carmel Rd

Covington, TN
property for sale

6205 Highway 179

Covington, TN
See the Newest Homes For Sale In Covington, TN

Cost Of Living Quick Facts

  • The cost of living in Covington is 4% lower than the Tennessee average
  • The cost of living in Covington is 12% lower than the national average
  • Covington housing is 32% lower than the national average
  • Tennessee general sales tax is 37% higher than the national average
  • Tennessee state income tax is 100% lower than the national average

Most Affordable Places to Live in and Around Covington

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index
      Lifestyle index
      Household index
      Educare index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$91,637$7,636$2,138$2,749
      Renters$31,055$2,588$725$932
      A good way to judge both the affordability of the housing and the cost of living in Covington is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Covington has a median income of about $91,637 for people who own homes. Based on that number, a maximum of $2,138 should be spent on expenses related to housing. Renters have a slightly different median income, which is $31,055. Based on this average, renters should spend no more than $725 on all rental costs if they want to maintain a non-impoverished standard of living.

      Tennessee Sales Tax

      State General Sales Tax With Max Surtax
      Tennessee 7% 9.75%

      Tennessee Income Tax

      State Income Tax (Low) Income Tax (High)
      Tennessee 0% 0%

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Henning, TN1,2098118.8%
      Stanton, TN5648317.1%
      Ripley, TN8,0258514.6%
      Mason, TN1,1468712.7%
      Burlison, TN3439010.0%
      Covington, TN9,1138811.8%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Franklin, KY9,1148911.0%
      New Glasgow, NS9,114n/a 
      Savoy, IL9,1101055.0%
      Sheffield, AL9,1168514.8%
      Whitestown, IN9,1091076.6%
      Covington, TN9,1138811.8%
      Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
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