| Index | Smithfield | North Carolina | National |
| Cost of living | 92 | 96 | 100 |
| Groceries | 101 | 100 | 100 |
| Health care | 98 | 99 | 100 |
| Housing | 75 | 88 | 100 |
| Transportation | 99 | 99 | 100 |
| Utilities | 101 | 99 | 100 |
| Lifestyle & Entertainment | 98 | 100 | 100 |
| Household Items | 97 | 100 | 100 |
| Education & Childcare | 99 | 100 | 100 |
Getting a feel for the cost of living in Smithfield is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Smithfield is 92, which is 8% lower than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.
The cost of living in Smithfield aligns closely with the national average when compared to other cities across the nation. Everyday essentials such as groceries, household expenses, health care and utility bills are priced at a level consistent with the average in similar urban areas. Smithfield residents can anticipate that their daily expenses won't be significantly higher than those in an average city, ensuring that the cost of living remains manageable.
Is Smithfield affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Smithfield, for instance, where the median home price falls 22% lower than the national average, and monthly rent rates are 32.8% lower than usual. Additionally, median income levels contribute to the equation, with Smithfield flaunting a median household income of $50,035, 38.5% lower than the national norm.
Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.
Healthcare: Healthcare expenses and insurance premiums can vary significantly depending on the specific city or state. Factors such as accessibility to healthcare facilities, out-of-pocket expenses for doctor's visits, dental care expenses, prescription costs and specialized medical care fees can all influence the overall cost of living. In Smithfield, healthcare costs are 2.3% lower than the national average.
Subsidies: Some cities and states may extend government subsidies or aid programs aimed at reducing the cost of living for their residents. These initiatives encompass diverse forms of support, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Regions with limited subsidy provisions may witness an increase in their overall cost of living.
The Smithfield cost of living data displayed above uses a U.S. average baseline of 100 to provide a practical way to compare living expenses across cities. Housing estimates incorporate U.S. Census home price and rental data, while all other values are generated using AI-assisted models based on everyday expense expectations, regional pricing trends, climate, transportation patterns, and local economic conditions. These values are designed for directional city-to-city comparisons.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $83,569 | $6,964 | $1,950 | $2,507 |
| Renters | $22,403 | $1,867 | $523 | $672 |
| State | General Sales Tax | With Max Surtax |
| North Carolina | 4.75% | 7.5% |
| State | Income Tax (Low) | Income Tax (High) |
| North Carolina | 4.75% | 4.75% |
| City | Population | Cost of Living Index | National Avg. |
| Princeton, NC | 1,436 | 88 | 11.7% |
| Kenly, NC | 2,443 | 89 | 11.4% |
| Selma, NC | 7,159 | 89 | 11.0% |
| Benson, NC | 3,991 | 90 | 10.3% |
| Micro, NC | 716 | 90 | 9.6% |
| Smithfield, NC | 13,082 | 92 | 8.1% |
| City | Population | Cost of Living Index | National Avg. |
| Richmond, TX | 13,080 | 99 | 0.8% |
| East Islip, NY | 13,085 | 146 | 46.2% |
| Woodland Park, NJ | 13,086 | 137 | 37.3% |
| Orangeburg, SC | 13,075 | 89 | 11.2% |
| Commerce, CA | 13,066 | 139 | 38.8% |
| Smithfield, NC | 13,082 | 92 | 8.1% |
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