Market Overview
Home Prices in Covington, WA
The median home value in Covington, WA is $674,124 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 2.3% compared to a year ago and up 0% from two years prior.
Compared to the U.S. national median of $410,000, homes in Covington are priced64% above average. Covington is part of the Seattle-Tacoma-Bellevue, WA metro area.
Over the past five years, Covington home values have risen by approximately14.6%, reflecting steady appreciation in this market.
Price History
Covington Home Price Trend
City Comparison
Covington vs. National Median
At $674,124, homes in Covington cost 64% above the national median of $410,000. Buyers in Covington should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Covington?
20% Down Payment
$134,825
on $674,124
Monthly P&I
$3,516/mo
30-yr @ 6.8%
Total Monthly Est.
~$4,465/mo
incl. taxes & insurance
Income Needed
$178,600
gross annual (30% rule)
10% Down Option
$67,412
+ PMI applies
Loan Amount (20% dn)
$539,299
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Covington, WA?
The median home value in Covington is $674,124 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 2.3% year-over-year.
How much have home prices changed in Covington?
Over the past year, home values in Covington have decreased by 2.3%. Over five years, prices have risen approximately 14.6%.
How much do I need to earn to buy a home in Covington?
To comfortably afford the median home price of $674,124 with a 20% down payment ($134,825) at today's rates (6.8%), you'd need a gross annual income of approximately $178,600. This assumes keeping total housing costs at or below 30% of gross income.
How does Covington compare to the national average home price?
The national median home value is approximately $410,000. At $674,124, homes in Covington are 64% above the national average.
What metro area is Covington part of?
Covington is part of the Seattle-Tacoma-Bellevue, WA metropolitan area. Home prices and market conditions can vary across the broader metro region.