Covington, KY vs Frankfort, KY

Covington, KY and Frankfort, KY have a very similar cost of living, with only a 1% difference in their overall index. Covington scores 76 while Frankfort scores 75 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 $949/month compared to $935/month in Frankfort — a 2% difference. Interestingly, home values tell a different story: while Frankfort has cheaper rent, Covington actually has lower median home values ($167,900 vs $171,600).

Median household income in Covington is $58,814 compared to $54,438 in Frankfort (+8%). While Covington is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Covington spend roughly 19.4% of their income on rent, less than the 20.6% in Frankfort.