Low Income Apartments and Affordable Housing For Rent in Covington, TN

Discover affordable housing in Covington where there are 11+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Glendale Commons

351 Mueller Brass Rd, Covington, Tennessee 38019

Fox Hollow Community

100 Fox Hollow Run, Covington, Tennessee 38019

Broadmeadow Place Apartments

150 Peeler Rd, Covington, Tennessee 38019

Eaglewood VIII Apartments

50 Eaglewood Cove, Covington, Tennessee 38019

Canterbury Apartments

100 Canterbury Cir, Covington, Tennessee 38019

Sunrise

1150 Simonton St, Covington, Tennessee 38019

Cottonwood Estates

1981 Cottonwood Way, Covington, Tennessee 38019

Cottonwood Apartments

1981 Cottonwood Pl, Covington, Tennessee 38019

Tiptonville Village

149 Jamie Lynn Cv, Covington, Tennessee 38019

Meadowview Elderly Apartments

1000 Meadowview Cv, Covington, Tennessee 38019

Mcdow, Thomas W.

2445 Hwy 54e, Covington, Tennessee

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Covington, Tennessee
$24.58/hour
$17.33 (+239%) more than Tennessee minimum wage and $17.33 (+239%) more than the Federal minimum wage.
Learn More About Covington, Tennessee Affordable Housing ↓

What HUD offices serve Covington, Tennessee?

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Operates the Public Housing programs for Covington, Tennessee.
Operates the Section 8 Housing Choice Voucher (HCV), Family Self-Sufficiency, Mainstream Voucher, Homeownership programs for Covington, Tennessee.

Go to the Tennessee Public Housing and Low-Income Apartments Waiting Lists page for openings near Covington.

How many renters live in Covington, Tennessee?

The City of Covington has 8,644 people living in 3,499 households.

There are 4,436 renters living in 1,784 renter households in this City. Renters make up 51.32 percent of the population living in Covington.

What is the rental market like in Covington, Tennessee?

There are an estimated 3,724 housing units in the Covington area. Of these, 1,917 units are rental homes, making up 51 percent of the housing market. For every renter household in Covington, Tennessee, there are 1 rental units.

What is the vacancy rate for rentals in Covington?

The rental vacancy rate in Covington is 6 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.

How many rental units are in Covington for each bedroom size?

Occupied Rental Units by Size in Covington
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
20 230 666 795 73
Occupied Rental Units by Size in Covington

A large number of apartments in Covington have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.

How many renter households in Covington are overburdened by housing costs?

Among renter households in this market, 43 percent have housing cost burden. Further, 21 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.

The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.

How Much Is Rent in Covington

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,031 to $1,995. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $1,031
One BR $1,146
Two BR $1,298
Three BR $1,711
Four BR $1,995
2024 Fair Market Rents in Covington, Tennessee

How many units are rented at Fair Market Rent (FMR) in Covington?

Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.

These are the approximate number of units renting below the FMR in this market:

Unit Size Count of Units Below FMR Percentage of Total Units Below FMR
Studio 0 100 percent
One BR 214 93 percent
Two BR 452 68 percent
Rental Units Below FMR in Covington, Tennessee

How many affordable rental units are in Covington?

There are a variety of federal affordable housing programs serving households in Covington, Tennessee including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 296
Public Housing 228
Section 8 Project-Based Rental Assistance 221
Section 202 Supportive Housing for the Elderly 43
USDA Section 515 Rural Rental Housing 172
Tracked Units by Federal Program in Covington, Tennessee

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Covington, Tennessee

Covington features 405 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.

Low Rent Apartments in Covington, Tennessee

There are 196 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Covington.

Housing Choice Vouchers in Covington, Tennessee

On average, Section 8 Housing Choice vouchers pay Covington landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in Covington.

The maximum amount a voucher would pay on behalf of a low-income tenant in Covington, Tennessee for a two-bedroom apartment is between $1,168 and $1,428.

Sourced from federal housing data and AffordableHousingOnline.com research.