County FMR · HUD FY2026
Covington city Fair Market Rent
HUD's FY2026 Fair Market Rent for Covington city, VA - 19% below the US average.
- $778
- 1-bedroom FMR
- $914
- 2-bedroom FMR
- +5.4%
- YoY change
- -19%
- vs US avg
The verdict
Covington city is the 7th cheapest of 133 counties in Virginia by 2-bedroom FMR; nationally it ranks #441 most affordable of 3,145 HUD counties; rent here has climbed 5.4% since FY 2025, a modest shift relative to most counties.
- #441
- most affordable of 3,145 US counties (2BR)
- #7
- cheapest of 133 in Virginia (2BR)
- -34%
- vs the state average
- $31,120
- income to afford it (30% rule)
Software Developers spend the smallest share of income on rent here (6.9%), while Fast Food and Counter Workers spend the most (32.1%); 14 of 15 common occupations here can afford a 1-bedroom at Fair Market Rent without exceeding the 30% threshold.
FY 2026 HUD Fair Market Rent for Covington city, VA. Verify with HUD →
The Fair Market Rent for a 1-bedroom apartment in Covington city, Virginia is $778 per month in FY 2026, according to the U.S. Department of Housing and Urban Development (HUD). A 2-bedroom costs $914/mo and a studio is $773/mo. This is 19% lower than the national average of $959 and 34% below the Virginia average of $1,182.
Rent increased5.4% from FY 2025 ($738), outpacing inflation. The 30% affordability floor is comparatively reachable here at $31,120/year.
FY 2026 HUD Fair Market Rents in Virginia. Population: 5,722. Population has held roughly steady over the past five years (+1.6%, Census ACS). That's in line with Virginia's statewide growth of +2.9% over the same period.
What these rents mean for Covington city
HUD publishes one FMR schedule per FMR area (often the county). Local housing authorities use it as the Section 8 Housing Choice Voucher payment-standard baseline. See how FMR is calculated.
According to HUD's FY 2026 Fair Market Rent schedule, Covington city's 2-bedroom of $914 ranks #441 most affordable of 3,145 US counties, in the lower-rent quarter of HUD counties.
This is a below-average rent market: 1-bedroom FMR is 19% under the US average of $959 and 34% below Virginia's $1,182. HUD's 1-bedroom figure shifted from $738 (FY 2025) to $778 (FY 2026), a +5.4% move that still leaves this county below the US mid-point.
A 1-bedroom at $778 needs $31,120/year under the 30% rule against a county median of $42,724, and the median household clears that line with room to spare. A 2-bedroom at $914 is the next step up.
Fair Market Rents (2026)
Year-over-Year Comparison
| Bedrooms | FY 2025 | FY 2026 | Change |
|---|---|---|---|
| Studio | $736 | $773 | +$37 (+5.0%) |
| 1 Bedroom | $738 | $778 | +$40 (+5.4%) |
| 2 Bedroom | $851 | $914 | +$63 (+7.4%) |
| 3 Bedroom | $1,192 | $1,259 | +$67 (+5.6%) |
| 4 Bedroom | $1,281 | $1,358 | +$77 (+6.0%) |
Affordability Snapshot
Based on the standard that rent should not exceed 30% of gross income:
Rent Burden Analysis
How much of household income goes to rent in Covington city. The 30% threshold indicates cost burden.
How we calculate this
Rent burden = (FMR × 12) ÷ county median household income. Required income = (FMR × 12) ÷ 0.3, the federal 30%-of-gross-income rule HUD uses to define cost burden. Median household income is from the U.S. Census Bureau's American Community Survey; FMR is from HUD's FY2026 release. See methodology.
Where Covington city sits among every US county
2-bedroom Fair Market Rent vs. all 3,145 HUD counties
$914 higher than 14% of 3,145 counties
Each bar is a $0.2K-wide band; taller bars hold more counties. The dashed line + filled bar mark this entry. Hover or tap any bar for its full count, share, and where it sits relative to this entry.
Source U.S. Department of Housing and Urban Development, Fair Market Rents · FY2026
How Covington city compares on 1-bedroom rent
1-bedroom FMR vs other Virginia counties
- Fairfax
Fairfax County
$2,015 1BR FMR / mo
- Prince William
Prince William County
$2,015 1BR FMR / mo
- Loudoun
Loudoun County
$2,015 1BR FMR / mo
- Virginia Beach city
Virginia Beach city
$1,512 1BR FMR / mo
- Chesterfield
Chesterfield County
$1,507 1BR FMR / mo
- Henrico
Henrico County
$1,507 1BR FMR / mo
- Covington city $778
Covington city
$778 1BR FMR / mo
What this shows Covington city is highlighted. Nearby Virginia counties by 1-bedroom FMR, highest to lowest: Fairfax County ($2,015), Prince William County ($2,015), Loudoun County ($2,015), Virginia Beach city ($1,512), Chesterfield County ($1,507), Henrico County ($1,507), Covington city (this county) ($778).
Can Common Jobs Afford Rent Here?
With a below-average 1-bedroom at $778/mo, most of these Virginia occupations clear, or miss, the 30% affordability line.
| Occupation | VA Salary | Rent Burden | Verdict |
|---|---|---|---|
| Software Developers | $134,470 | 6.9% | Affordable |
| General & Operations Managers | $121,530 | 7.7% | Affordable |
| Registered Nurses | $88,820 | 10.5% | Affordable |
| Accountants & Auditors | $84,190 | 11.1% | Affordable |
| Police & Sheriff's Patrol Officers | $65,110 | 14.3% | Affordable |
| Elementary School Teachers | $62,270 | 15% | Affordable |
| Electricians | $61,610 | 15.2% | Affordable |
| Paralegals & Legal Assistants | $61,200 | 15.3% | Affordable |
| Heavy & Tractor-Trailer Truck Drivers | $54,500 | 17.1% | Affordable |
| Pharmacy Technicians | $42,490 | 22% | Affordable |
| Customer Service Representatives | $39,210 | 23.8% | Affordable |
| Teaching Assistants | $36,650 | 25.5% | Affordable |
| Janitors & Cleaners | $33,970 | 27.5% | Affordable |
| Retail Salespersons | $32,760 | 28.5% | Affordable |
| Fast Food & Counter Workers | $29,060 | 32.1% | Stretched |
Rent Trends (2020–2026)
7-year Fair Market Rent history for Covington city. Shows how HUD rental rates have changed over time.
Over the 6-year span HUD has tracked for Covington city (FY 2020-2026), the 1-bedroom Fair Market Rent has risen 36.5% overall, from $570 to $778. Most of that movement was gradual except for a single sharp jump of +15.7% in FY 2024, well above this county's typical year-to-year change.
| Year | Studio | 1 BR | 2 BR |
|---|---|---|---|
| FY 2026 ↑5.4% | $773 | $778 | $914 |
| FY 2025 ↓2.0% | $736 | $738 | $851 |
| FY 2024 ↑15.7% | $749 | $753 | $905 |
| FY 2023 ↑10.9% | $647 | $651 | $812 |
| FY 2022 ↑5.2% | $584 | $587 | $739 |
| FY 2021 ↓2.1% | $495 | $558 | $735 |
| FY 2020 | $499 | $570 | $740 |
Where Covington city Ranks in Virginia
Covington city is not part of any federally-designated metropolitan or micropolitan statistical area -- an independent rental market not administratively tied to a larger urban core. By 2-bedroom FMR, it ranks #7 of 133 counties in Virginia. Nearest by rank: Alleghany County ($914), Bland County ($914), Brunswick County ($914), Buchanan County ($914), Carroll County ($914), Charlotte County ($914), Covington city (this county) ($914), Danville city ($914), Dickenson County ($914), Galax city ($914), Grayson County ($914), Halifax County ($914), Henry County ($914), Highland County ($914), Lee County ($914).
Nearby Counties in Virginia
Largest counties by population in Virginia
Frequently Asked Questions
What is the average rent in Covington city? ▼
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What this means for renters
Treat Covington city's FY2026 Fair Market Rent as HUD's affordability benchmark, not a market quote.
- Budget to roughly 30% of income: the FY2026 1-bedroom FMR of $778 implies about $31,120/yr to rent without being cost-burdened. Run your numbers
- Compare this county against nearby metros and states before signing a lease. Compare areas
- See where it sits on the national rent map. View rankings
Fair Market Rent is HUD's 40th-percentile policy benchmark used to set Housing Choice Voucher payment standards. Actual asking rents in Covington city can run higher or lower, and HUD updates FMRs once a year. This page is informational and not financial or relocation advice.
Disclaimer: This information is provided for informational purposes only and does not constitute professional advice. Data is sourced from the U.S. Census Bureau and HUD Fair Market Rents. Consult a qualified professional before making decisions based on this data.
Every figure on PlainRent is rendered directly from HUD's published Fair Market Rent records, no number is typed in by an editor. See our editorial standards & corrections policy, the methodology behind these numbers, or report a data error. Data current as of FY 2026.