Covington, WA housing market
Typical home value
$647K
▼ 2.0% 1 yr
Typical rent
$2,491/mo
▲ 6.7% 1 yr
Gross rent yield
4.6%
U.S. 6.3%
5-year home value change
+10%
U.S. +20%
Key takeaways
- 1The typical home in Covington is worth $646,823, down 2.0% over the past year and up 10% over five years.
- 2Typical rent is $2,491 a month (+6.7% YoY), a gross rent yield of 4.6% (above the Seattle, WA metro's 3.7%).
- 3With 20% down at 7.32%, principal and interest on the typical home is about $3,555/mo, $1,064 more than typical rent.
- 4Zillow forecasts the Seattle, WA metro's home values to change 0.0% over the next 12 months.
Market temperature (Seattle, WA metro)
Strong buyer's market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 26/100, #485 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Covington compares
| Measure | Covington | Seattle, WA metro | United States |
|---|---|---|---|
| Typical home value | $646,823 | $720,147 | $366,157 |
| Home value, 1-yr change | −2.0% | −1.6% | +1.2% |
| Typical rent | $2,491 | $2,250 | $1,932 |
| Rent, 1-yr change | +6.7% | +1.8% | +2.7% |
| Gross rent yield | 4.6% | 3.7% | 6.3% |
| Price-to-rent ratio | 21.6 | 26.7 | 15.8 |
| Mortgage P&I, typical home | $3,555 | $3,958 | $2,012 |
Run the numbers
Rental property calculator
Cash flow on a typical Covington rental, pre-filled.
Rent vs buy in Covington
Which costs less over the years you'll stay.
Mortgage calculator
Monthly payment on a $647K home.
Other cities in the Seattle, WA metro
Seattle, WA
$823K home$2,227 rent
▼ 1.8% 1 yr
Tacoma, WA
$483K home$1,773 rent
■ 0.0% 1 yr
Everett, WA
$631K home$1,919 rent
▼ 1.8% 1 yr
Bellevue, WA
$1.39M home$2,759 rent
▼ 4.4% 1 yr
Renton, WA
$725K home$2,252 rent
▼ 2.1% 1 yr
Kent, WA
$631K home$1,958 rent
▼ 1.2% 1 yr
Puyallup, WA
$560K home$2,199 rent
▲ 0.1% 1 yr
Bothell, WA
$979K home$2,523 rent
▼ 5.6% 1 yr
City figures are Zillow's typical home value (ZHVI) and observed rent (ZORI). Gross yield is before expenses. Data refreshed Oct 26, 2026.