Commercial Real Estate Market in Covington, KY
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
57 active listings and 2,434 off-market properties in Covington, KY.
Market Trends
Covington, KY spans 67.8 square miles in Kenton County, Kentucky. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Covington, KY runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Retail
Retail space in Covington, KY has a median asking sale price of $125/SF (based on 3 listings). Vacancy runs 5.4% across the South region in 2025, down from 7% in 2020.
Industrial
Industrial vacancy in Covington, KY runs 7.9% across the South region in 2025, up from 6% in 2019. Nearly 2.3x the 2022 low of 3.5%.
Multifamily
Multifamily space in Covington, KY has a median asking sale price of $121/SF. Vacancy runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Zoning & Land Use
Land Use Mix share of zoned land by category
- Commercial 35.5%
- Planned_development 33.7%
- Open space 11.7%
- Industrial 10.2%
- Civic 4.5%
- Mixed use 3.8%
- Special 0%
Largest Zones share of zoned land by district
The purpose of the Recreation (REC)district is to accommodate large parks and public open spaces
Market overview
Demographics & Economy
Covington, KY has 130,439 residents in 58,599 households. Density runs 1,925 people per square mile. Median household income here is $76,805 and median gross rent $984 a month.
Tools
Nearby Markets
| Market | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr |
|---|---|---|
| Cincinnati | $110 | $15.75 |
| Newport | $141 | $14.25 |
Commercial property in Covington, KY asks $122/SF. The 2 bordering markets run from $110/SF in Cincinnati to $141/SF in Newport, and the city sits below their $126/SF median.
Frequently Asked Questions
What is the median price per square foot for commercial property in Covington?
How does Covington compare to nearby markets on price?
Where does Realmo's Covington market data come from?
Methodology & data sources
- Asking prices and medians
- There are 40 active for-sale and 17 active for-lease listings in Covington, KY. The sale median is based on 17 of the for-sale listings that state a price per square foot; too few for-lease listings state a rent per square foot for a rent median. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- 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: 8,471 zoned acres across 29 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 October 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at South region level, retail vacancy is reported at South region level and industrial vacancy is reported at South 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 October 2026 · How Realmo checks market page data · Report a data issue
