Covington County, Mississippi Housing Market Prices
Covington County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 96% below the Mississippi median Among the top 3 cheapest counties in Mississippi$5,000
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Median rent 31% below the Mississippi median Cheaper than 86% of counties in Mississippi$662
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Covington County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $5,000 | $130,069 | $248,835 |
| Price Trend (Annual %) | -3.2% | 5.6% | 7.5% |
| Median Gross Rent | $662 | $954 | $1,407 |
| Rent Trend (Annual %) | 0.4% | 3.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Covington County is about 96% lower than in Mississippi. Rent is about 31% lower than the Mississippi average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in Covington County: home prices fell about 3.2% a year while rent rose about 0.4% a year. That is an unusual pattern worth watching.
Median rent in Covington County rose about 0.5% between 2015 and 2024, from $659 to $662. Over the same span, rent in Mississippi rose about 33.2%.
Affordability
On average, housing unit costs 0.1 yearly household incomes in Covington County.
Buying the median-priced home in Covington County costs roughly 0.6 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Covington County. The price-to-rent ratio in Mississippi is about 11.4.
| Metric | Covington County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $5,000 | $130,069 | $248,835 |
| Median Household Income | $45,024 | $56,669 | $80,455 |
| Price-to-Income Ratio | 0.1 | 2.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Covington County fell about 97.3%, while median household income rose about 35.9% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Covington County | Mississippi Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 67.6% | 59.8% | 58.5% |
| Rental Rate | 19.6% | 25.6% | 31.2% |
| Vacancy Rate | 12.8% | 14.6% | 10.2% |
| Median Tenure (years) | 19.0 | 16.0 | 15.0 |
| Median Year Moved In | 2007 | 2010 | 2011 |
Covington County has a homeownership rate of 67.6%, higher than the Mississippi average of 59.8%. Its housing vacancy rate is 12.8%, compared with 14.6% in Mississippi.
Housing Stock
| Metric | Covington County | Mississippi Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.44 people | 2.49 people | 2.53 people |
| Median Structure Built Year | 1990 | 1986 | 1978 |
| Median Number of Rooms | 6.1 | 5.7 | 5.5 |
The typical housing unit in Covington County was built around 1990. On average, 2.4 people live in a home with about 6.1 rooms, staying for about 19.0 years on average.
Covington County, MS Housing Compared With Nearby Counties
How Covington County, MS compares with the 2 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Covington County, MS | 18,148 | $5,000 #3/3 | $662 #3/3 | 77.5% #1/3 |
| Jones County, MS | 66,472 | $43,367 | $868 | 75.1% |
| Lamar County, MS | 65,698 | $167,954 | $1,126 | 69.5% |
Frequently Asked Questions
Common questions about the housing market in Covington County, Mississippi.
What is the median home price in Covington County, Mississippi?
The median home price in Covington County, Mississippi is $5,000, lower than the Mississippi average of $130,069.
What is the average home price in Covington County, Mississippi?
The typical home price in Covington County, Mississippi, reported as the median sale price, is $5,000. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Covington County, Mississippi?
The median gross rent in Covington County, Mississippi is $662 per month, lower than the Mississippi average of $954.
What was the median gross rent in Covington County in 2020?
In 2020, the median gross rent in Covington County, Mississippi was $627 per month.
What is the price-to-rent ratio in Covington County, Mississippi?
The price-to-rent ratio in Covington County, Mississippi is about 0.6, meaning it would take roughly 0.6 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Covington County.
Are home prices or rent rising faster in Covington County, Mississippi?
Home prices and rent are moving in opposite directions in Covington County: home prices fell about 3.2% a year while rent rose about 0.4% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Covington County, Mississippi?
67.6% of households in Covington County, Mississippi own their home, higher than the Mississippi average of 59.8%.
What is the vacancy rate in Covington County, Mississippi?
The housing vacancy rate in Covington County, Mississippi is 12.8%, lower than the Mississippi average of 14.6%.
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