Rent to Own Homes in Covington
At any rate, Covington is a city of about 9,900 residents in St. Tammany Parish. Located at the fork of the Bogue... Read More
At any rate, Covington is a city of about 9,900 residents in St. Tammany Parish. Located at the fork of the Bogue Falaya and Tchefuncte River, it is just north of Lake Pontchartrain and about 40 miles from New Orleans across the Lake Pontchartrain Causeway. Baton Rouge is less than 70 miles to the west, and Gulfport and Biloxi aren’t far to the east.The below results are primarily rent to own homes in Kenton County, KY:
At any rate, Covington is a city of about 9,900 residents in St. Tammany Parish. Located at the fork of the Bogue... Read More
At any rate, Covington is a city of about 9,900 residents in St. Tammany Parish. Located at the fork of the Bogue Falaya and Tchefuncte River, it is just north of Lake Pontchartrain and about 40 miles from New Orleans across the Lake Pontchartrain Causeway. Baton Rouge is less than 70 miles to the west, and Gulfport and Biloxi aren’t far to the east.The below results are primarily rent to own homes in Kenton County, KY:
The earliest recorded settlement by Europeans was in 1800. In 1813 a town was established and named Wharton. The Bogue Falaya River played an important role in commerce in the early days, and the railroad came to Covington in 1888. The population gradually grew, reaching 1,000 by 1900 and 5,000 by 1950.
After Hurricane Katrina, the north shore of Lake Pontchartrain – including Covington – experienced a population boom, as New Orleans residents were forced to move out of the storm-ravaged city. Covington’s elevation protected it from extensive damage during the storm.
Buying a Home in Covington
The median home price in Covington is about $206,000, which is 11 percent above the national average. Recent home listings range from $83,000 to $1.1 million. Home appreciation is nearly 16 percent over the past ten years. The overall cost of living is about two percent above the national average. The average age is 36.4, and about 44 percent of the population is married. About 65 percent of the residential property is owner occupied.
Covington is served by St. Tammany Parish Public Schools, which is comprised of 55 schools. About four of these are located within Covington’s city limits. The schools, as assessed by GreatSchools, have different ratings, and there are several private schools available as well. So families with school-aged children should be sure to check out the schools when looking for a neighborhood.
Popular Neighborhoods in Covington
Nine constituent neighborhoods make up the city of Covington. The southernmost area is the Route 21/Christwood Blvd neighborhood. Part of the eastern border of this area is the Tchefuncte River, and it is the closest neighborhood to Lake Pontchartrain. The residential real estate is mainly medium- to large-sized single-family homes and apartment complexes. The median home price is about $374,000, and it’s considered in the top one percent of neighborhoods to retire in the entire state.
To the northwest is the Old Hammond Hwy/w 21st Ave neighborhood. The real estate landscape is similar to that mentioned above. It’s a peaceful, quiet area, retiree-friendly, and the median home cost is about $302,000. Many of the residences have been built since 2000.
Buying vs. Rent to Own Homes
Rent-to-own plans are becoming more and more popular. Why? Because buying a home requires a large down payment and prequalification, and can be out of reach for some. In a rent-to-own arrangement, a portion of each month’s rent goes toward a down payment to eventually buy the house. It’s easier and doesn’t require a large outlay of cash, and renters can look forward to becoming proud homeowners. So if you’re considering a move to Covington, it would be worthwhile to check out this option.
Summary
The mild winters and hot summers in southern Louisiana make it a pleasant place to be all year. Covington’s proximity to Lake Pontchartrain, New Orleans, and the Gulf of Mexico means that outdoor activities and the amenities of the big city are always close by. And positive job growth and appreciating home values mean it’s a good choice not just for today, but for the future as well.
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