Commercial Real Estate Market in Covington, OH
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
4 active listings and 218 off-market properties in Covington, OH.
Market Trends
Covington, OH spans 46.9 square miles in Miami County, Ohio. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Covington, OH runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail vacancy in Covington, OH runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial vacancy in Covington, OH runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Multifamily
Multifamily vacancy in Covington, OH runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 50%
- Industrial 18.8%
- Special 18.1%
- Open space 6.2%
- Commercial 5.1%
- Civic 1.8%
Largest Zones share of zoned land by district
Covington, OH zones 799 acres across 11 districts. Commercial zoning covers 5.1% of zoned land, residential 50%, open space 6.2% and industrial 18.8%. The largest single district is Urban Residential at 47.2%. For commercial buyers the practical constraint is that only 23.9% of land carries a commercial or industrial designation.
I-1 Light Industrial - Commercial District PR Planned Residential District PMH Planned Mobile Home Residential District PC Planned Commercial District PI Planned Industrial District CD Conservation District FP Flood Plain District 802 Compliance with Regulations The regulations for each district set forth by this ordinance shall be minimum regulations and sh…
Market overview
Demographics & Economy
Covington, OH has 5,438 residents in 2,534 households. Density runs 116 people per square mile. Median household income here is $64,239 and median gross rent $701 a month.
Tools
Nearby Markets
Commercial property in Covington, OH asks $74/SF. The 2 bordering markets run from $85/SF in Piqua to $136/SF in Troy, and the city sits below their $111/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?
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 4 active for-sale and 0 active for-lease listings in Covington, OH. The sale median is based on 3 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: 799 zoned acres across 11 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 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 October 2026 · How Realmo checks market page data · Report a data issue
