Is Covington, WA a good place to invest in rental property?

Covington, WA has a median modeled monthly cash flow of $-2,423 and a median cap rate of 2.4%, on a median sold price of $675,000. Prices changed -3.8% year over year.

What is the average cap rate in Covington, WA?

The median cap rate across recently sold homes in Covington, WA is 2.4%, based on CashFlowRE's rent and expense modeling.

What is the median home price in Covington, WA?

The median sold price in Covington, WA is $675,000 (about $340 per square foot).

Investing in Covington, WA Real Estate

A data-driven snapshot of the Covington, WA rental-property market, built from recently sold homes and CashFlowRE's per-listing investment modeling — median price, cap rate, monthly cash flow, appreciation and inventory — so you can judge the market before you ever open a listing.

$675,000Median sold price

$340Median $/sqft

2.4%Median cap rate

$-2,423Modeled cash flow / mo

-3.8%Appreciation YoY

7.2Months of supply

174Active listings

289Sold (last 12 mo)

What the Covington numbers say

In Covington, WA, the median home sold for $675,000 (about $340 per square foot), and the typical deal models out to a 2.4% cap rate with a median $-2,423 of monthly cash flow. Sold prices moved -3.8% over the past year. Inventory sits at about 7.2 months of supply — a looser, buyer-friendly market. These are medians across recorded sales; individual properties vary widely, which is exactly what CashFlowRE scores listing by listing.

Other Washington markets to compare

See Covington cash-flowing listings

CashFlowRE ranks every for-sale home in Covington, WA by cap rate, cash-on-cash return, DSCR and monthly cash flow — so the best rental deals rise to the top. Create a free account to screen Covington deals, or browse the national market data.