Cost of Living in Cove, OR

With a cost of living index of 92, Cove, OR is slightly more affordable than average. Living here is 8% cheaper than the national average and 14% below the Oregon state average of 106. Cove is a small community of 638 residents.

Housing costs are the biggest factor in Cove's cost of living. The median monthly rent is $1,175 (11% below the US median of $1,319), and the median home value sits at $243,800 (20% below the national median of $304,900). At current prices, the median home costs roughly 3.6x the median household income — a moderately affordable ratio by today's standards.

The median household income in Cove is $67,813, which is 10% lower than the national median of $75,149. Residents spend roughly 21% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to Cove. The area sees an average annual temperature of 47.6°F, with summers averaging 66°F and winters around 30°F. Annual rainfall totals 9.1 inches spread over roughly 94 days.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.