Covington County, Mississippi Housing Market
In Covington County, Mississippi, the median home value is $105,100, with a median monthly rent of $662. This places Covington County at #2854 nationally out of 3134 counties by median home value, and #59 within Mississippi.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $887
- Establishments: 356
- BLS QCEW, 2025
Migration Patterns
- Inflow: 6,805 (avg $55,088)
- Outflow: 6,617 (avg $55,351)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 3 active ZIP codes in Covington County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 39482 | 223.8 | +1.69% | 2025 |
| 2 | 39401 | 234.6 | +5.18% | 2025 |
| 3 | 39402 | 208.6 | +3.30% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Covington County Compares
| Metric | Covington County | Mississippi Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $105,100 | $135,817 | $227,706 |
| Median Gross Rent | $662 | $804 | $968 |
| Owner Occupancy Rate | 77.5% | 72.4% | 73.3% |
| Price/Rent Ratio | 13.2 | 13.9 | 18.7 |
Market Analysis
The median home value in Covington County is 22.6% below the Mississippi state average and 53.8% below the U.S. national average. The median rent of $662/month is 17.7% below the state average.
With a price-to-rent ratio of 13.2, buying a home in Covington County is generally more favorable than renting for those planning to stay long-term. A ratio below 15 typically signals that purchasing is financially advantageous over a multi-year horizon.
Covington County has an owner-occupancy rate of 77.5%, compared to 72.4% in Mississippi and 73.3% nationally. This indicates a more homeowner-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Sharp County | Arkansas | $105,100 | $766 |
| Benton County | Mississippi | $105,100 | $731 |
| Warren County | Illinois | $105,000 | $788 |
| Wallace County | Kansas | $105,000 | $601 |
| Conecuh County | Alabama | $105,300 | $834 |
Other Counties in Mississippi
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Benton County | $105,100 | $731 | 86.0% |
| Attala County | $104,600 | $825 | 75.3% |
| Washington County | $104,000 | $833 | 60.2% |
| Newton County | $106,300 | $638 | 79.1% |
| Scott County | $106,700 | $888 | 71.3% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).