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Covington city, IN

ZIP 47932 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Working ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 47932

Median Home Value
$171,600
Median Rent
$580
Affordability Snapshot
$47,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,102/mo PITI).

12%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

2.9x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

24.7 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 47932 in Covington city, IN, a household would need roughly $47,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $1,102. That sits below the local median household income ($59,365), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Vacancy rate 14% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
69.8%+7% vs US avg
x
Vacancy Rate
14.2%+37% vs US avg
x
Broadband Access
88.3%+2% vs US avg
x
4+ Bedrooms
2.6%-82% vs US avg
x
Built Pre-1939
2.0%-84% vs US avg
x
Built Post-2014
0.4%-94% vs US avg
x
Rent Burden >30%
17.4%-65% vs US avg
x
Mortgage-Free
43.1%+13% vs US avg
x
$171,600
Home Value
$580
Rent
1963
Year Built
2010
Moved In

Residents have lived here since ~2010 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached82.4%
  • 1-unit attached0.0%
  • 2-9 units10.4%
  • 10+ units1.6%
  • Mobile home & other5.6%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$171,600
Median rent$580
Owner-occupied69.8%
Vacant14.2%
Price-to-income2.9x
Est. income to buy$47,000