Georgia Multifamily
Multifamily Investment Properties for Sale in Covington
2 duplex · 0 triplex · 0 fourplex · 0 apartmentsGeorgia market report →
ACS 2023 · HUD FY2027 · 2 ZCTAs with ACS
Covington housing stock & renter economics
Covington apartment-building and small-multifamily investors concentrate in ZIPs where HUD Fair Market Rents sit above or beside ACS median gross rent. The table below is ZCTA housing stock and voucher benchmarks for commercial residential income underwriting, linked to each ZIP housing profile. Live FMLS set on this page: 2 buildings.
2 ZCTAs · 2 with ACS. Medians across ACS ZIPs; totals for stock. Not a listing feed.
- Population
- 101,331
- Households
- 35,559
- Housing units
- 37,382
- 2-unit stock
- 591
- 3–4 unit stock
- 509
- 2–4 unit stock
- 1,100
- 5–49 unit stock
- 1,371
- 50+ unit stock
- 368
- Median renter share
- 28.5%
- ACS median rent
- $1,392
- Contract rent
- $1,128
- 1BR SAFMR
- $1,445
- 2BR SAFMR
- $1,570
- 3BR SAFMR
- $1,870
- SAFMR / ACS rent
- 1.13×
- Vacancy (ACS)
- 5.2%
- Pop Δ 2018–2023
- +8.6%
- Median HH income
- $72,666
- Rent burden ≥30%
- 51.5%
- Rent burden ≥50%
- 31.5%
- LIHTC projects / units
- 12 / 1,818
- HUD assisted MF
- 3 / 393
- Alloc. 5+ permits
- 11
Covington: median renter share 28.5%; ACS median gross rent $1,392; FY2027 2BR SAFMR $1,570; 2BR SAFMR is 1.13× ACS median gross rent; 591 units in 2-unit structures, 509 in 3–4-unit structures, and 1,371 in 5–49-unit structures; population up +8.6% between ACS 2018 and 2023; 12 LIHTC projects (1,818 units); 11 allocated 5+ unit permits (county BPS × ZCTA share). Census / HUD stock — not a rent roll and not a buy/sell score.
Georgia ZIP housing directory·All Georgia ZCTAs·SAFMR directory·Voucher Spread™
ZCTA ≈ USPS ZIP. ACS 5-year 2023 lags construction. Units-in-structure is Census standing stock (2-unit vs 3–4 vs 5–49 vs 50+), not the live FMLS card. SAFMR is a bedroom-specific HUD voucher benchmark, not asking rent. LIHTC / assisted-MF are inventory of record and belong on apartment pages. 5+ permits are county BPS 2025 allocated by ZCTA housing-unit share. Brokerage is Georgia-only.
2 Multifamily Investment Properties for Sale in Covington
As of today, 2 active small multifamily listings in Covington · median $117,475/door. Covington sits east of Atlanta and has seen growing investor interest. Multifamily inventory is limited and usually consists of small residential multi-unit properties.
All Georgia multifamily →Georgia multifamily market report →
Current Market Snapshot
HUD Fair Market Rent · Newton County(FY2026)
Showing 2 of 2 multifamily investment properties for sale
Frequently Asked Questions — Covington Multifamily
Are there multifamily for sale in Covington?
This page is the live FMLS Residential Income set for multifamily in Covington. Counts change with the MLS feed. If inventory is thin, open the statewide Georgia multifamily collection or the county page for a larger sample.
How does Covington compare to Georgia overall for multifamily?
Use the statewide inventory at /multifamily-for-sale/georgia for the full Georgia multifamily set, then compare $/door and published cap estimates against this city. Smaller markets often have one or two live listings; that is not a full comp set.
Do multifamily in Covington still qualify for residential financing?
Most 2–4 unit multifamily can still qualify for conventional residential financing when the buyer and property meet guidelines. Always confirm with your lender. 5+ unit buildings are a different stack.
Why is the estimated cap rate missing on some Covington listings?
Yields on this site are independent screening models, not MLS fields. A listing is left out of the cap sample when we cannot publish a number. That is not a zero cap — pull the rent roll.
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