Cost of Living in Covington, IN
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
87.6
100 = national avg
-12.4 vs national average
Living Wage (1 Adult)
$38,522
per year
Living Wage (Family of 4)
$91,053
per year
Cost Index by Category
Housing85.6
Food92.0
Transportation84.0
Healthcare93.6
Utilities92.3
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$729
per month
2 Bedroom
$956
per month
The overall cost of living index in Covington is 87.6, which is 12.4% below the national average. Housing costs are below the national average at an index of 85.6. A single adult needs to earn approximately $38,522 per year to cover basic expenses.