Covington, Georgia Short-Term Rental Market
Covington, GA STRs averaged $175/night at 50.4% occupancy in April 2026, serving 2.8 million annual visitors to 'The Hollywood of the South'.
Quick Answer: Covington, Georgia is an active short-term rental market. average occupancy is 55%. average monthly revenue is $3,064. average daily rate is $202. the top operator is Evolve with 315 listings. market score is 77/100 (grade B).
Market data reflects the Georgia Area regional market, which includes Covington. Regulations, taxes, and permit details below are specific to Covington.
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Covington, Georgia is a film-tourism destination roughly 30 miles east of Atlanta, marketed as ‘The Hollywood of the South.’ Its Greek Revival and Victorian downtown square has appeared in more than 100 films and TV productions including The Vampire Diaries, Sweet Magnolias, and In the Heat of the Night. The city reported approximately 2.8 million visits to its Historic Downtown Entertainment District in 2021, with visitor spending reaching approximately $118 million in Covington and $130 million county-wide by 2023.
As of April 2026, the Covington STR market tracked approximately 9,466 active listings across the broader market area. The average daily rate was $175 and occupancy was 50.4%, producing a RevPAR of $88. Average monthly revenue per listing was $2,416. Year-over-year, occupancy declined 8.6 percentage points and revenue fell 4.8%, while ADR gained 3.6%. The occupancy decline is meaningful and suggests the market absorbed new supply faster than demand grew.
Listing type is heavily concentrated in entire-place rentals (8,379 of 9,466 listings, or 88%), with private rooms at 1,086 and shared rooms negligible at 5. By bedroom count, 1-bedroom units lead at 2,841, followed by 3-bedroom (2,710), 2-bedroom (2,194), 4-bedroom (1,174), and 5-bedroom-plus (547). The larger bedroom mix suggests the market serves group and extended-stay visitors as well as couples. Airbnb dominates channel distribution at 5,047 Airbnb-only listings, 3,784 dual-listed, and 639 VRBO-only.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 43% | $118 | $1,538 |
| Feb | 53% | $120 | $1,607 |
| Mar | 56% | $134 | $2,030 |
| Apr | 54% | $147 | $2,125 |
| May | 54% | $157 | $2,256 |
| Jun | 59% | $175 | $2,737 |
| Jul | 60% | $176 | $2,864 |
| Aug | 51% | $151 | $2,155 |
| Sep | 51% | $150 | $2,036 |
| Oct | 54% | $151 | $2,271 |
| Nov | 52% | $150 | $2,124 |
| Dec | 48% | $139 | $1,985 |
Top Short-Term Rental Operators in Covington
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Evolve | 315 | 10,767 | ★ 4.66 |
| 2 | Orlando | 94 | 4,398 | ★ 4.70 |
| 3 | Patriot Family Homes | 70 | 3,671 | ★ 4.31 |
| 4 | Pine Mountain Chalet | 51 | 456 | ★ 4.13 |
| 5 | River Town Rentals | 46 | 937 | ★ 4.70 |
What Kind of STR Should I Buy in Covington?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 2,841 |
| 2 bed | 2,194 |
| 3 bed | 2,710 |
| 4 bed | 1,174 |
| 5 bed | 547 |
ADR by Property Tier
| Entire Home | $215 |
| Luxury | $389 |
| Professionally Managed | $256 |
Revenue by Dwelling Type
| Apartment | $2,038 |
| Entire Place | $3,271 |
| House | $3,362 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 53.3% |
| vrbo | 6.7% |
| both | 40% |
Investment Analysis
Covington’s investment case is anchored by a large and growing visitor base, a $294,155 typical home value, and a standout investability score of 95.7. Against April 2026 monthly revenue of $2,416, annualized revenue of approximately $28,989 implies a gross yield of roughly 9.9% relative to the typical home value. That is above most national benchmarks for residential STR yields, though the 8.6 percentage-point occupancy decline year-over-year warrants caution about demand absorption.
The overall market score is 77.0. Investability leads the sub-scores at 95.7, and seasonality scores 84.6, reflecting relatively consistent year-round demand driven by film tourism. Rental demand is 71.2 and revenue growth is 44.2, the latter reflecting a market where ADR has grown but occupancy has compressed. Regulation scores 67.4.
Revenue by property type shows modest divergence: houses average $2,581/month and entire-place units average $2,557/month, nearly identical at the top tier. Apartments average $1,923/month. Professionally managed listings command an ADR of $216 versus the market average of $175, a 23% premium that is one of the larger professional management premiums in this dataset. Luxury-tier listings reach $337/night.
The 2026 zoning amendment restricting residential-zone STRs to lodging use only (prohibiting events and assemblies) is a meaningful operational constraint. Properties positioned for event hosting in residential zones will need to adjust their use model. Prospective investors should review the 2026 Zoning Ordinance Sec. 16.20.635.E amendments before assuming event-rental income.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
Covington guests book an average of 38 days in advance as of April 2026, consistent with a film-tourism and Atlanta day-tripper market where some bookings are leisure-planned and others are production-driven. The 38-day lead time gives operators a roughly 5-week pricing window before dynamic discounting makes sense for unsold inventory.
Average length of stay is 4.0 nights, the longest of the five markets in this batch. The near-4-night average reflects a mix of leisure visitors extending beyond a weekend and production crew bookings that tend to run Monday-through-Thursday or longer. Fewer turnovers per month relative to shorter-stay markets may reduce cleaning costs proportionally.
At 50.4% occupancy over approximately 30 days, an average listing hosts roughly 3 to 4 stays per month. Film production bookings, when they occur, may cluster stays in weekday blocks, creating an opportunity for operators who can accept flexible check-in and check-out days rather than strict weekend-only schedules.
Short-Term Rental Regulations
Covington regulates short-term rentals under city code Sec. 16.08.010 and zoning Sec. 16.20.635, administered by the Department of Planning and Development. STRs are permitted, and every operator must hold both a Short Term Vacation Rental Permit ($150 non-refundable application fee) and an Occupational Tax License. The permit expires annually and must be renewed each year; the renewal fee is $100 non-refundable. Renewal notices go out mid-October, and penalties for late payment apply.
Applicants must supply proof of ownership, STR-specific insurance, a written exemplar rental agreement posted in the unit, a federal tax ID, a Georgia sales/use tax number, and a designated 24-hour local agent who must respond on-site within two hours of a complaint from the city.
There is no owner-occupancy or primary residence requirement, and no annual night cap was found in the regulations.
In 2026, the Covington Planning Commission adopted amendments to Zoning Ordinance Sec. 16.20.635.E restricting STRs in residential zoning districts to lodging (residential) use only. Commercial, assembly, or event-related uses at licensed STRs in residential zones are prohibited under the 2026 amendment.
The occupancy tax rate is 8% (the city’s hotel-motel excise tax under Chapter 3.16), in addition to Georgia state sales tax of 4%, remitted by the 20th of each month. No statewide Georgia STR law governs; local rules apply.
Code violations are heard in municipal court with non-waivable fines of $500 (first offense), $750 (second within 12 months), and $1,000 (third within 12 months). Enforcement is rated moderate.
Market Comparison
Covington’s April 2026 ADR of $175 is slightly below the U.S. STR median of approximately $220, consistent with its position as a smaller market adjacent to Atlanta rather than a top-tier destination. Occupancy at 50.4% is below the national median of approximately 55%, and the 8.6 percentage-point year-over-year occupancy decline warrants attention.
The market’s investability score of 95.7 is an outlier relative to most markets in this dataset, driven by the combination of a $294,155 typical home value and a visitor base of approximately 2.8 million. The overall market score of 77.0 is solid, though revenue growth (44.2) is among the weaker sub-scores, indicating the market’s revenue per listing has not grown rapidly despite rising ADR.
Evolve leads the professional management segment with 315 listings and 10,767 reviews at a 4.7-star average. Orlando follows with 94 listings and 4,398 reviews at a 4.7-star rating. Patriot Family Homes holds 70 listings with 3,671 reviews at a 4.3-star rating. Together these three operators represent approximately 479 managed listings, or roughly 5% of the estimated 9,466 total active listings. The low professional management penetration leaves substantial room for professional operators to gain share.
The median days to pending of 48 for housing in this market is notably slower than Covington KY (11 days), suggesting a less competitive local housing market and potentially better acquisition conditions for investors.
Frequently Asked Questions About Covington, Georgia
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