Real Estate Investing in Covington, Pennsylvania (16917)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 16917 (Covington, PA)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 25.6% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Covington, PA (16917)?
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Market Analysis: 16917 Covington
The 16917 ZIP in Covington, PA is a local-operator market. Outside capital chasing a $207K entry has to pair deep knowledge with the discount.
Rent of $900/mo on a $207K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 16917 sits below the stated 0.0% once reality is priced in.
Statewide comparisons place 16917 among PA's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
A durable renter share of 21% in 16917 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
The 16917 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Covington:
Property Strategy for 16917
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $207,826 | $1,000 | 3.5% | +4.3% | $103,913 |
| 3BR | $229,990 | $1,300 | 4.1% | +7.0% | $76,663 |
Market Trends
Home Value History (with trend line)
📊 How Does 16917 Compare?
| Metric | 16917 | Covington | Pennsylvania |
|---|---|---|---|
| Home Value | $206,951 | $206,951 | $278,018 |
| 5-Year CAGR | 4.8% | 4.8% | 6.3% |
| Avg Rent | $900 | $900 | - |
| Cap Rate | 3.4% | 3.4% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 16917 (Covington, PA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $206,951 |
| Monthly Rent | $900 |
| Price-to-Rent | 19.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.2% |
| Cap Rate | 3.4% |
| 5-Year IRR | 8.2% |
📈 Home Appreciation
| 1-Year | +1.0% ▲ |
| 3-Year CAGR | +3.3% ▲ |
| 5-Year CAGR | +4.8% ▲ |
| 10-Year CAGR | +5.6% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.4%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 16917
Population: 1,195
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
Frequently Asked Questions
What are home prices like in Covington, PA?
The median home value in Covington, PA is roughly $207K. That puts it reasonable relative to the PA statewide average.
Is Covington, PA a smart market for rental property?
With a 3.0/5 investability score, Covington, PA ranks as a solid market for rental property investors. Median prices of $207K and rents of $900/mo drive the underlying numbers.
Can I live-in-and-rent in Covington, PA?
The house hack math a challenging in Covington, PA. Owner-occupant buyers benefit from the $900/mo rents and $207K home values.
Is rental property easy to operate in Covington, PA?
Landlord-friendliness in Covington, PA is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
How much do tenants pay in Covington, PA?
Expect rents around $900/mo per month in Covington, PA. With home values at $207K, the yield math works out to reasonable levels for rental investors.
You know 16917 now. You don’t know where it ranks.
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