Commercial Real Estate Market in Covington, IN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
6 active listings and 204 off-market properties in Covington, IN.
Market Trends
Covington, IN spans 106.3 square miles in Fountain County, Indiana. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Covington, IN runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Covington, IN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Covington, IN runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Covington, IN runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Civic 59.2%
- Residential 40.7%
- Industrial 0.1%
Largest Zones share of zoned land by district
Agricultural
Interchange Development
Urban Residential
Urban Residential
Urban Residential
Agricultural (A)
AGRICULTURE. The use of a tract of land for agricultural purposes, including farming, dairying, pasturage, apiculture, horticulture, floriculture, viticulture, and animal and poultry husbandry, and the necessary accessory uses of tenant housing and for packing, treating, or storing the produce; provided, however, that the operation of any of these accessory…
Market overview
Demographics & Economy
Covington, IN has 5,271 residents in 2,502 households. Density runs 50 people per square mile. Median household income here is $59,365 and median gross rent $835 a month.
5,271
Population
2,502
Households
2.1
Avg Household Size
46
Median Age
22%
College-Educated
94%
High-School Grad
106.3 sq mi
ZIP Area
50
Density / Sq Mi
$59,365
Median Household Income
$40,371
Median Earnings
$835
Median Rent
$171,600
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Perrysville | — | — |
| Veedersburg | — | — |
| State Line | — | — |
| West Lebanon | — | — |
Commercial property in Covington, IN asks $1/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Covington?
Commercial property in Covington, IN asks an average of $1 per square foot.
Where does Realmo's Covington market data come from?
Realmo compiles Covington, IN figures from 6 active sale listings, 204 tracked off-market properties, the current Covington zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 6 active for-sale and 0 active for-lease listings in Covington, IN. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 5,017 zoned acres across 8 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
