Rent in Covington, TN
A 2-bedroom in Covington, TN (ZIP 38019) typically rents for about $965 a month, with a range of $909–$1,020. Owner-occupied homes in Tipton County pay about 0.50% of their value a year in property tax, and the 30-year fixed mortgage rate averaged 7.24% in the week of Oct 29, 2026.
Rent by bedrooms
| Size | Typical | Range across ZIPs | ZIPs |
|---|---|---|---|
| Studio | $860 | $860–$1,095 | 1 |
| 1 bed | $930 | $930–$1,191 | 1 |
| 2 beds | $965 | $909–$1,020 | 1 |
| 3 beds | $1,189 | $1,027–$1,350 | 1 |
| 4 beds | $1,550 | $1,550–$1,981 | 1 |
Typical = median of each ZIP's best guess. Gross rent (rent plus tenant-paid utilities). Sources: HUD Small Area Fair Market Rents (Oct 1, 2026), Census ACS 5-year median gross rent (Dec 31, 2024) and HUD county Fair Market Rents (Oct 1, 2026).
Covington ZIP codes
2 bedsFrequently asked questions
- What is the average rent for a 2-bedroom in Covington, TN?
- About $965 a month: the median of the typical rents in 1 ZIP code, which range from $909–$1,020. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 1-bedroom in Covington, TN?
- About $930 a month: the median of the typical rents in 1 ZIP code, which range from $930–$1,191. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 3-bedroom in Covington, TN?
- About $1,189 a month: the median of the typical rents in 1 ZIP code, which range from $1,027–$1,350. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a studio in Covington, TN?
- About $860 a month: the median of the typical rents in 1 ZIP code, which range from $860–$1,095. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 4-bedroom in Covington, TN?
- About $1,550 a month: the median of the typical rents in 1 ZIP code, which range from $1,550–$1,981. Figures are gross rent (rent plus tenant-paid utilities).
- What is the property tax rate in Covington, TN?
- Owner-occupied homes in Tipton County pay a typical 0.50% of their value a year (Census ACS, median taxes paid ÷ median home value, Dec 31, 2024). Investors often pay more after a purchase: the home is reassessed at the sale price and there is no homestead exemption.
- What is the current 30-year mortgage rate?
- The 30-year fixed rate averaged 7.24% in the week of Oct 29, 2026 (Freddie Mac PMMS via FRED). It's a national average for owner-occupied loans; investment property loans usually cost more.
- Where do these Covington rent figures come from?
- HUD Small Area Fair Market Rents (Oct 1, 2026), Census ACS 5-year median gross rent (Dec 31, 2024) and HUD county Fair Market Rents (Oct 1, 2026).