Income & Economy in Covington city, VA (24426)
Median Income
$51,841
*Adjusted for inflation (2023 dollars)
IRS Net Migration
+768
Wealth inflow
Population
13,611
Unemployment
1.9%
1.8pp below US avg
IRS migration statistics show a net inflow of about 768 for ZIP 24426 (Covington city, VA) on US5’s published series — a signal of people/tax filers moving in relative to those leaving. Inflows often track job growth, housing demand, or lifestyle migration; treat the figure as a directional indicator rather than a precise headcount.
Historical Trends in 24426 (2020–Present)
Since 2020, population grew 2.7%, median income fell 5.7% (inflation-adjusted), home values decreased 9.8%.
Economy & Jobs key statistics
| Income & Jobs | |
|---|---|
| Median household income | $51,841 |
| Unemployment | 1.9% |
| Establishments | 304 |
| Employees | 4,237 |