Is Covington City, VA good for real estate investing?

Covington City has an investment score of 77/100, rated as "Strong Buy". The county ranks #21 nationally among 1000 counties analyzed.

What is the median home price in Covington City?

The median home price in Covington City is $96,187. This ranks #28 in affordability among all US counties.

Can you cash flow on rental properties in Covington City?

Based on median values with 20% down at current rates, a typical rental in Covington City would generate positive cash flow of $0/month. Individual property performance varies based on purchase price, rent, and operating expenses.

Covington City

VirginiaPopulation: 5,722

/100

Strong Buy

#21 of 1,000 counties

#2 in Virginia (133 counties)

Market Snapshot

$96,187

Median Home Price

59% below national median

$5,718/mo

Est. Rent

Based on regional data

5.94%

Rent-to-Price Ratio

Estimated from price data

+$0

Est. Monthly Cash Flow

With 20% down at 6.9% rate

Price History

Historical data from Zillow ZHVI/ZORI

Score Breakdown

Overall Investment Score

77/100

Cash Flow(30%)

0/100

Rent data not available for cash flow calculation.

Appreciation(25%)

82/100

Based on 3.6% YoY price growth. Moderate growth (3-8%) scores highest.

Stability(25%)

50/100

Population data not available.

Affordability(20%)

98/100

Price-to-income ratio of 2.1x. Lower ratios indicate more affordable markets.

Scores are calculated using real Zillow home value and rent data, Census population data, and economic indicators. The weighted average produces the overall investment score. Markets with missing rent data use estimated values based on regional averages.

Investment Outlook

Strengths

+Affordable relative to local incomes

Challenges

-Negative leverage (cap rate 0.0% < mortgage rate 6.9%)
-Limited rent data (estimates used)

Economic Indicators

Population

5,722

Median Income

$45,737

vs $57,018 national est.

Unemployment Rate

—

Data pending

Price-to-Income

2.1x

Very affordable

Compare to Nearby Counties

County					Verdict
CurrentCovington CityVA	77	$96,187	Est. pending	—	Strong Buy
LeeVA	76	$111,349	Est. pending	—	Strong Buy	View
Franklin CityVA	70	$224,286	Est. pending	—	Buy	View
Roanoke CityVA	67	$215,833	$1,271	7.06%	Buy	View
MecklenburgVA	64	$198,731	$1,484	8.96%	Buy	View
RoanokeVA	64	$325,167	$1,582	5.84%	Buy	View

The Bottom Line

Strong BuyCovington City is a strong buy market with excellent fundamentals for buy-and-hold investors.

Covington City in Virginia scores 77/100, ranking #21 of 1,000 US counties (top 3%).

Monthly Cash Flow

+$0/mo

Cap Rate

0.0%

Cash-on-Cash