Covington, TX is a small city found in Tarrant County. Many people find it attractive due to its affordable cost of living including its rent prices. Currently 2 bedroom rent in Covington stands at $890, which is significantly lower than the national average of $1,430. Additionally, Covington's grocery cost index stands at 94 versus 100 for the rest of the US. The city also hosts many local businesses such as Colby’s Grocery Store and Johnson Motors. With affordable costs and plenty of local businesses to serve residents' needs, Covington is an ideal place to live for those looking for a smaller city lifestyle with a lower cost of living.
Covington has an unemployment rate of 6.5%. The US average is 6.0%.
Covington has seen the job market decrease by -3.7% over the last year. Future job growth over the next ten years is predicted to be 38.1%, which is higher than the US average of 33.5%.
Tax Rates for Covington
- The Sales Tax Rate for Covington is 7.8%. The US average is 7.3%.
- The Income Tax Rate for Covington is 0.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Covington
- The average income of a Covington resident is $31,152 a year. The US average is $37,638 a year.
- The Median household income of a Covington resident is $45,750 a year. The US average is $69,021 a year.