Rent to own Homes in Covington, WA
Originally settled as Jenkins Prairie, Covington experienced slow growth in the later parts of the 1800s. In 1908, the village experienced some progress when the Covington Lumber Company began its operations but still remained a small community. In 1997, the city of Covington was officially incorporated and now approximately 19,000 people call this city their home. The city covers of a land area just shy of 6 square miles and continues to experience population growth today.
Covington, WA is a great place for affordable rent-to-own homes! With a median household income of over $106,737 and a median rent of $1,845, the Covington, WA rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Covington, WA. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
More Covington, WA Property Resources
Rent to own Homes in Cities Near Covington, WA
- Alderton
- Algona
- Bainbridge Island
- Beaux Arts Village
- Bellevue
- Black Diamond
- Bothell West
- Boulevard Park
- Brier
- Browns Point
- Burien
- Clearview
- Clover Creek
- Clyde Hill
- Cottage Lake
- Covington
- Crocker
- Dash Point
- Des Moines
- East Hill-Meridian
- Edgewood
- Enumclaw
- Fall City
- Federal Way
- Fife
- Fife Heights
- High Bridge
- Issaquah
- Kent
- Kingsgate
- Lake Forest Park
- Lake Holm
- Lakeland North
- Lakeland South
- Lake Morton-Berrydale
- McMillin
- Mercer Island
- Midland
- Milton
- Mountlake Terrace
- Normandy Park
- North Puyallup
- Prairie Ridge
- Puyallup
- Riverton
- SeaTac
- Seattle
- Shoreline
- South Hill
- Tukwila
Popular Zip Codes in Covington, WA
98042 rent to own homesBuying a Home in Covington, WA
Covington, WA is seeing rapid growth and Covington, WA's' housing market remains not optimal with an average home price that is 78% above the 2024 national average. Covington, WA is part of King county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county King is 0.88% which is below the national average, which is 0.99%.
Median Home Price in Covington, WA
Median Rent in Covington, WA
Top 5 Reasons to Live in Covington, WA
Enjoy the city parks! Being able to get out and enjoy the fresh air is an important part of life in any city and Covington has a variety of parks that can fit any mood. Should you desire a hike through nature, Jenkins Creek Park is a perfect getaway with walkways and trails looping through wetland, meadows and wooded areas. When you prefer something a bit more urbanized, Crystal View Park offers play structures, a basketball court and a variety of other amenities.
A solid real estate market! Real estate in Covington is higher than the average price of homes in Washington state. The area enjoys strong and steady real estate markets and new residents immediately become part of the community atmosphere. If the price of a new home seems high, there is also land for sale to construct a new home. Maple Valley offers some of the best homes in the city. On the more affordable end of the spectrum, Meridian Heights is the perfect neighborhood to explore.
Rentals are in limited supply! Though there are definitely options for rent to own homes and a great selection of homes for rent, the amount of actual units available is lower than you might expect. This serves as a further testament to the strength of the local community and ensures that you really get to know your neighbors. Two of the most prominent complexes are the Adalgo Apartments and the Allegro Apartment Homes.
Participate in the local events! Like most cities of its size, Covington enjoys a variety of local events year-round to promote the community. Towards the end of each July the city hosts the Covington Day Festival which is an opportunity to enjoy a variety of outdoor activities and entertainment. Following this up, they hold a Summer Concert Series which gives locals access to live music.
Take part in local athletics! Everyone loves a good competition and in Covington, they host an Adult Softball league. The Parks and Recreation Department also hosts events sponsored by Land O' Frost, including a variety of children leagues.