Cost of living in Covington, Tennessee

Covington, Tennessee has about 8,587 people. That count is a 2020–2024 Census average, not a headcount from one day.

A typical home is worth about $185,900.

HUD's fair-market rent for a 2-bedroom in Tipton County is $1,301 a month. That is the county number, not an apartment listing in Covington. It runs from October 2026 through September 2027.

In the Memphis, TN-MS-AR metro area, prices sit at 92.2 when the U.S. average is 100. That is a 2024 BEA index.

Tennessee does not tax wages. A typical combined sales tax is 9.6% as of January 1, 2026. That mix is statewide, not Covington's exact store tax.

In July 2026, a typical Tennessee home paid 13.71¢ per kilowatt-hour. That is a state average from EIA, not Covington's bill.

EIA does not publish a Tennessee gasoline price. For the week of October 12, 2026, the Midwest (PADD 2) all-grades price was $4.237 a gallon. At 12,000 miles a year and 25 mpg, the index counts that as $2,033.76 a year. Those miles are our standard, not a Census figure, and every town in Tennessee shares this price.

Among 278 places we list in Tennessee with a rent figure, 115 have higher typical rent than Covington.