Cost of Living in Covington, VA
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
72.8
100 = national avg
-27.2 vs national average
Living Wage (1 Adult)
$32,043
per year
Living Wage (Family of 4)
$75,737
per year
Cost Index by Category
Housing68.3
Food82.7
Transportation65.3
Healthcare86.1
Utilities83.2
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$778
per month
2 Bedroom
$914
per month
The overall cost of living index in Covington is 72.8, which is 27.2% below the national average. Housing costs are below the national average at an index of 68.3. A single adult needs to earn approximately $32,043 per year to cover basic expenses.