24426 Covington, VA is an excellent area to live if you are searching for a quality place to call home without breaking the bank. With 2 Bedroom Rent in Covington being $870 compared to the US 2 Bedroom Rent of $1,430, it provides great value while still providing access to local amenities and businesses. Grocery cost index in Covington is 94 versus 100 in the US, making it one of the more affordable places to live. Local companies include Alleghany Enterprise Group, Inc., R M Jones Lumber Co., and Fort Lewis Apparel Company. In addition to these businesses, there are plenty of restaurants and recreational activities around town like Rockbridge Vineyard, The Irish Pub Restaurant & Bar, Pocahontas State Park, and Bull Run Mountains Natural Area Preserve. All this make 24426 Covington an attractive option for those looking for quality living at an affordable price.
Covington (zip 24426) has an unemployment rate of 7.7%. The US average is 6.0%.
Covington (zip 24426) has seen the job market increase by 0.4% over the last year. Future job growth over the next ten years is predicted to be 19.9%, which is lower than the US average of 33.5%.
Tax Rates for Covington (zip 24426)
- The Sales Tax Rate for Covington (zip 24426) is 5.3%. The US average is 7.3%.
- The Income Tax Rate for Covington (zip 24426) is 5.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Covington (zip 24426)
- The average income of a Covington (zip 24426) resident is $24,674 a year. The US average is $28,555 a year.
- The Median household income of a Covington (zip 24426) resident is $47,469 a year. The US average is $69,021 a year.