Commercial Real Estate Market in Covington, LA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
124 active listings and 3,672 off-market properties in Covington, LA. Commercial property asks $221/SF to buy and $18.06/SF/Yr to lease.
Market Trends
Covington, LA spans 152.8 square miles in St. Tammany County, Louisiana. Figures below refresh monthly; last updated 31 October 2026.
Office
Office space in Covington, LA asks $18.42/SF/Yr to lease; the median asking sale price is $227/SF. Vacancy runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Typical asking range for active listings in Covington, LA (the middle half): Lease $15.00–$25.00/SF/Yr (median $18.75/SF/Yr, 38 listings); Sale $183–$276/SF (median $227/SF, 13 listings).
Retail
Retail space in Covington, LA has a median asking sale price of $275/SF (based on 5 listings). Vacancy runs 5.4% across the South region in 2025, down from 7% in 2020.
Typical asking range for active listings in Covington, LA (the middle half): Lease $16.62–$28.00/SF/Yr (median $20.26/SF/Yr, 15 listings).
Industrial
Industrial vacancy in Covington, LA 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 vacancy in Covington, LA 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
- Residential 69%
- Commercial 19.7%
- Civic 8.1%
- Open space 1.2%
- Industrial 0.9%
Largest Zones share of zoned land by district
Covington, LA zones 5,115 acres across 17 districts. Commercial zoning covers 19.7% of zoned land, residential 69%, open space 1.2% and industrial 0.9%. The largest single district is Single Family Residential Existing Large Lots District at 27%. For commercial buyers the practical constraint is that only 20.6% of land carries a commercial or industrial designation.
In all zoning districts other than RSL, RS-1, RS-2, RLL and RS-3 residential districts, a periphery landscape area, also known as a street planting area, shall be required adjacent to the right-of-way of any public street, road, lane, or other public accessway (excluding any alley) upon which the site fronts. In calculating the required street planting area,…
Market overview
Demographics & Economy
Covington, LA has 62,251 residents in 27,682 households. Density runs 407 people per square mile. Median household income here is $80,011 and median gross rent $1,325 a month.
Tools
Lease vs Buy Breakeven
At $18.06/SF/Yr lease vs $221/SF buy → buying wins if held > 2.2 years.
At a 8.2% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Frequently Asked Questions
What is the median price per square foot for commercial property in Covington?
How much does it cost to lease commercial space in Covington?
Is it cheaper to lease or buy commercial space in Covington?
What zoning applies to commercial property in Covington?
Where does Realmo's Covington market data come from?
Methodology & data sources
- Asking prices and medians
- There are 36 active for-sale and 88 active for-lease listings in Covington, LA. The medians are based on 24 of the for-sale and 62 of the for-lease listings, those that state a price or rent per square foot. 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: 5,115 zoned acres across 17 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
