Covington, KY vs Madisonville, KY

Madisonville is moderately more affordable than Covington, with a 6.9% lower cost of living index. Covington scores 76 compared to 71 for Madisonville, where the US average is 100. This difference means residents of Covington can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Covington is $949/month compared to $860/month in Madisonville — a 10% difference. Home values follow the same pattern: Madisonville is more affordable at $152,300 median vs $167,900.

Median household income in Covington is $58,814 compared to $56,902 in Madisonville (+3.4%). Covington does offer higher incomes, but the salary premium barely offsets the higher cost of living, leaving residents with a tighter budget. Looking at affordability, residents of Covington spend roughly 19.4% of their income on rent, more than the 18.1% in Madisonville.