Covington, IN vs Princeton, IN

Covington, IN and Princeton, IN have a very similar cost of living, with only a 2.2% difference in their overall index. Covington scores 71 while Princeton scores 69 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Covington is $841/month compared to $892/month in Princeton — a 6% difference. Interestingly, home values tell a different story: while Covington has cheaper rent, Princeton actually has lower median home values ($117,100 vs $162,100).

Median household income in Covington is $54,962 compared to $57,234 in Princeton (-4%). Princeton offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Covington spend roughly 18.4% of their income on rent, less than the 18.7% in Princeton.