Cost of Living in Covington, KY
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
94.6
100 = national avg
-5.4 vs national average
Living Wage (1 Adult)
$41,602
per year
Living Wage (Family of 4)
$98,333
per year
Cost Index by Category
Housing97.4
Food95.0
Transportation89.9
Healthcare96.0
Utilities96.5
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,051
per month
2 Bedroom
$1,353
per month
The overall cost of living index in Covington is 94.6, which is 5.4% below the national average. Housing costs are below the national average at an index of 97.4. A single adult needs to earn approximately $41,602 per year to cover basic expenses.