Cheap Apartments for Rent in Covington, KY from $300 (217 Rentals)

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Search the lowest-cost Apartments available for rent right now in Covington.

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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217 Wallace Ave
$1,450 - $1,875
Total Monthly Price

Total Monthly Price

Base Rent
$1,450 - $1,875
Total Monthly Price
$1,450 - $1,875
1 to 2 Bedroom Apartment Available Now

217 Wallace Ave

217 Wallace AveCovington, KY 41014
Furnished
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JRG Lofts
$1,297 - $3,746
Total Monthly Price

Total Monthly Price

Base Rent
$1,297 - $3,746
Total Monthly Price
Varies
Studio to 2 Bedroom Apartments Available Now

JRG Lofts

437 W 6th StCovington, KY 41011
Corporate Housing
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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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Highland Manor
1 Bedroom Apartments

Highland Manor

918-922 Highland AveCovington, KY 41011
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1807 Madison Ave
2 Bedroom Apartments

1807 Madison Ave

1807 Madison AveCovington, KY 41014
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522-524 Garrard St.
1 Bedroom Apartments

522-524 Garrard St.

522-524 Garrard StCovington, KY 41011
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River's Edge
1 to 3 Bedroom Apartments

River's Edge

1028 Greenup StCovington, KY 41011
  • Utilities Included

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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Apartments on 10th
1 to 2 Bedroom Apartments

Apartments on 10th

10-12 W 10th StCovington, KY 41011
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811 Greenup St
1 to 2 Bedroom Apartments

811 Greenup St

811 Greenup StCovington, KY 41011

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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Covington, KY Local Guide

Photo of Justin Habersaat - Editing Staff
Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Covington, KY

Pricing Updated: 06/19/2026

Current apartment rentals in the Covington, KY area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Covington Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Downtown Covington$2,265$1,8502
Kenton County$3,000$75554

Cheapest Available Covington Apartments for Rent

 

The cheapest available apartment rental in Covington, KY is a 1 Bed unit found at The Arts Apartments at Music Hall in the Queensgate neighborhood priced from $630. 2108 Auburn Ave in the Mount Auburn neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $650. Here is today’s list of the most affordable Covington apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Arts Apartments at Music Hall1 Bedroom1BR,1BA$630
2108 Auburn Ave0 Beds, 1 BathsStudio,1BA$650
2162 Stratford AveOne Bedroom1BR,1BA$700
Clifton View1 Bedroom 1 Bathroom1BR,1BA$725
Bellevue House ApartmentsStudioStudio,1BA$825
Devou Village2 Bedroom, 1 Bath - Sleepy Hollow 700SqFt2BR,1BA$890
Barkley Ridge Apartments1 Bedroom 1 Bath1BR,1BA$895
Chateau 932-9381BR/1.0BA1BR,1BA$895

Best Value Apartments for Rent in Covington, KY

As of June 19, 2026 the best value apartment in the Covington area is the $0.94 price per square foot 474 Dayton St Model at 474 Dayton St, Unit Apt #2 in the in the Queensgate neighborhood starting from $2,065. The second greatest value Covington apartment is the 969 Hatch St Model at 969 Hatch St, Unit 969 12 starting at $1,800 with a $1.20 price per square foot in the Riverfront neighborhood. Here is today’s list of the best values for Covington apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
474 Dayton St, Unit Apt #2474 Dayton St2BR,2BA$0.94
969 Hatch St, Unit 969 12969 Hatch St2BR,1BA$1.20
107 Valencia St, Unit 107 Valencia Apt 1107 Valencia StStudio ,1BA$0.68
The Arthur - NEW1BR1BR,1BA$1.09
Mitchel's Park2 Bed 2 Bath2BR,2BA$1.23
2216-2218 Ohio Ave1 Bedroom 1 Bathroom1BR,1BA$1.08
2215 Ohio Ave1 Bedroom 1 Bathroom1BR,1BA$1.08
Clifton View1 Bedroom 1 Bathroom1BR,1BA$1.23
The Arts Apartments at Music Hall1 Bedroom1BR,1BA$1.07
535 Maple Ave, Unit Lower level535 Maple AveStudio ,1BA$1.18

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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Local Expert's Guide To the Best Student Friendly Neighborhoods to Rent Near Colleges in Cincinnati

A Local Experts guide to the Best Student Friendly Neighborhoods Near Colleges in the Cincinnati metro area for affordable living. Find your perfect Student apartment, condo, or rental home today at apartmenthomeliving.com

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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Covington Overview

Located in the proud confines of Kenton County, Covington is a blue collar city in Kentucky that acts as home to around 40,000 residents. Boasting views of both the Ohio and Licking Rivers, this fifth most-populated city in the state is a welcoming locale brimming with charm and possibility.

Why live in Covington, KY?

With scenic natural beauty to spare and plenty of amenities usually only seen in larger cities, Covington apartments for rent make an excellent option for anyone in the market for a new home in the great state of Kentucky. From impressive local schools to popular area eateries, this on-the-move working class hot spot is a great destination in which to raise a family or enjoy retirement.

Best Local Schools in
Covington, KY

School data provided by Great Schools

Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Covington, KY Rentals by Map

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See the most popular apartments and homes in Covington, KY

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Frequently Asked Questions about Cheap Covington Apartments

What is the Cheapest Studio apartment in Covington?

Currently the most affordable Cheap Studio Apartment in Covington is at 2108 Auburn Ave listed at $650.

How much is rent for a Cheap One Bedroom Covington Apartment?

The lowest price for a Cheap One Bedroom Covington Apartment is $630 at The Arts Apartments at Music Hall.

What is the lowest price for a Cheap Two Bedroom Covington Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Covington is starting from $730 at The Arts Apartments at Music Hall.

What is the most affordable Covington Three Bedroom Apartment?

The best deal on a cheap Covington Three Bedroom Apartment rental is at The Arts Apartments at Music Hall and starts from $830.

Expert Rental Resources

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

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Cincinnati isn’t exactly known as a college town — still, with the city’s great variety and strong economy, it’s a great place to go to college (and maybe to stay for years to come)!

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