The typical owner-occupied home in Fort Covington is worth about $112,500, 73% below the New York median of $423,800 and 66% below the national median of $332,700. Owners pay a median $1,823 a year in property taxes, about 1.62% of their home's value, close to the New York rate of 1.55%. The median household earns $68,750 a year, so the median home costs 1.6 times the median income (4.9 times for New York). 87% of occupied homes here are lived in by their owners, and 50% of those owners still have a mortgage.
Fort Covington at a glance
| Fort Covington | New York | U.S. | |
|---|---|---|---|
| Median home value | $112,500 | $423,800 | $332,700 |
| Median property tax paid per year | $1,823 | $6,582 | $3,119 |
| Property tax as a share of value | 1.62% | 1.55% | 0.94% |
| Median household income | $68,750 | $85,974 | $80,734 |
| Homes lived in by their owners | 87% | 54% | 65% |
| Owner homes with a mortgage | 50% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,475 | $2,555 | $1,963 |
| Those costs as a share of the owners' income | 22.5% | 22.5% | 21.0% |
| Median rent | $547 | $1,621 | $1,413 |
| Rent as a share of renters' income | 36.8% | 31.2% | 30.6% |
| Median year homes were built | 1962 | 1959 | 1980 |
| Vacant homes | 24.5% | 10.0% | 10.1% |
| Population | 1,041 | 19,852,366 | 334,922,499 |
What a typical home costs per month in Fort Covington
At this week's average 30-year rate of 7.11%, buying the median Fort Covington home of $112,500 with 20% down costs about $804 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $992, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $34,465 for the 20%-down payment. That payment is 14% of the median Fort Covington household income of $68,750; at that income and 20% down, the 28% guideline points to a home of about $224,000.
The median rent here is $547 a month, so owning the median home costs about $257 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $22,500 |
|---|---|
| Loan amount | $90,000 |
| Principal and interest | $605 |
| Property taxes (1.62% a year) | $152 |
| Homeowners insurance (our estimate, 0.5% a year) | $47 |
| PMI | $0 |
| Total per month | $804 |
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| Down payment | $3,938 |
|---|---|
| Loan amount | $110,462 |
| Principal and interest | $743 |
| Property taxes (1.62% a year) | $152 |
| Homeowners insurance (our estimate, 0.5% a year) | $47 |
| FHA mortgage insurance | $50 |
| Total per month | $992 |
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Questions about home buying in Fort Covington
What is the median home value in Fort Covington?
About $112,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Fort Covington?
Homeowners pay a median $1,823 a year, which is about 1.62% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Fort Covington?
For the median home with 20% down at 7.11%, the payment is about $804 a month. Keeping that under 28% of gross income takes about $34,465 a year.
More about Fort Covington
- Mortgage Refinance in Fort Covington
- Debt Relief in Fort Covington
- Home Equity Loans in Fort Covington
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data