Rent in Covington, VA
A 2-bedroom in Covington, VA (ZIP 24426) typically rents for about $815 a month, with a range of $815–$943. Owner-occupied homes in Alleghany County pay about 0.79% of their value a year in property tax, and the 30-year fixed mortgage rate averaged 7.32% in the week of Oct 22, 2026.
Rent by bedrooms
| Size | Typical | Range across ZIPs | ZIPs |
|---|---|---|---|
| Studio | $786 | $786 | 1 |
| 1 bed | $637 | $637–$790 | 1 |
| 2 beds | $815 | $815–$943 | 1 |
| 3 beds | $776 | $776–$1,246 | 1 |
| 4 beds | $1,389 | $1,389 | 1 |
Typical = median of each ZIP's best guess. Gross rent (rent plus tenant-paid utilities). Sources: 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, VA?
- About $815 a month: the median of the typical rents in 1 ZIP code, which range from $815–$943. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 1-bedroom in Covington, VA?
- About $637 a month: the median of the typical rents in 1 ZIP code, which range from $637–$790. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 3-bedroom in Covington, VA?
- About $776 a month: the median of the typical rents in 1 ZIP code, which range from $776–$1,246. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a studio in Covington, VA?
- About $786 a month: the median of the typical rents in 1 ZIP code, which range from $786. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 4-bedroom in Covington, VA?
- About $1,389 a month: the median of the typical rents in 1 ZIP code, which range from $1,389. Figures are gross rent (rent plus tenant-paid utilities).
- What is the property tax rate in Covington, VA?
- Owner-occupied homes in Alleghany County pay a typical 0.79% 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 7.32% in the week of Oct 22, 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?
- Census ACS 5-year median gross rent (Dec 31, 2024) and HUD county Fair Market Rents (Oct 1, 2026).