| Index | Smithfield | Utah | National |
| Cost of living | 109 | 105 | 100 |
| Groceries | 100 | 101 | 100 |
| Health care | 99 | 101 | 100 |
| Housing | 126 | 113 | 100 |
| Transportation | 101 | 101 | 100 |
| Utilities | 99 | 101 | 100 |
| Lifestyle & Entertainment | 104 | 102 | 100 |
| Household Items | 103 | 102 | 100 |
| Education & Childcare | 107 | 105 | 100 |
Knowing the cost of living in Smithfield allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Smithfield stands at 109, marking it 9% higher than the national average.
Everyday expenditures like food, housing, lifestyle expenses, transportation and health care in Smithfield are priced in a manner consistent with other areas. This means that residents of Smithfield can anticipate their daily expenses remaining reasonably similar to those in an average city, thereby supporting a manageable cost of living.
Housing costs make up a big chunk of the cost of living in Smithfield, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 26.1% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.
Wondering if Smithfield is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Smithfield, for example, the median home price is 38% higher than what folks pay nationally, and monthly rent is 1.6% lower than the usual rates. Plus, income levels matter too, with Smithfield boasting a median household income of $110,766, which is 36.2% higher than the national average.
Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In Smithfield, the transportation index is 0.5% higher than the national average.
Urbanization: Larger, urban hubs brimming with ample amenities and robust employment opportunities often showcase a heightened cost of living. This surge is primarily attributed to the amplified demand for services and increased residential migration, culminating in elevated home prices and elevated rental rates. Conversely, less densely populated rural locales or regions characterized by reduced demand tend to offer a more limited array of amenities and undergo slower job market growth, ultimately yielding a more affordable cost of living.
Utilities: Similar to the prices of any other goods or services, utility expenditures can exhibit substantial variability, influenced by factors such as climate, energy sources accessibility, geographical location and state regulations. Costs related to electricity, water, heating, and waste disposal can fluctuate, whether higher or lower, contingent on the city or state. In Smithfield, the utilities index is 0.7% lower than the national average.
The cost of living data for Smithfield shown above is based on a U.S. average baseline score of 100, making it easier to compare how far your dollar may go from one city to another. Housing uses U.S. Census home price and rental data, while all remaining values are AI-assisted estimates informed by regional pricing, climate, transportation dynamics, and local economic factors. These scores are best used for directional comparisons between cities.
| 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 | $116,051 | $9,671 | $2,708 | $3,482 |
| Renters | $77,970 | $6,498 | $1,819 | $2,339 |
| State | General Sales Tax | With Max Surtax |
| Utah | 6.1% | 8.35% |
| State | Income Tax (Low) | Income Tax (High) |
| Utah | 4.85% | 4.85% |
| City | Population | Cost of Living Index | National Avg. |
| Cache, UT | 123 | 101 | 1.3% |
| Franklin, ID | 727 | 97 | 3.1% |
| Cornish, UT | 217 | 100 | 0.0% |
| Trenton, UT | 569 | 101 | 1.2% |
| Fielding, UT | 664 | 102 | 2.3% |
| Smithfield, UT | 11,904 | 109 | 8.8% |
| City | Population | Cost of Living Index | National Avg. |
| Cocoa Beach, FL | 11,904 | 123 | 22.7% |
| Lyndon, KY | 11,905 | 102 | 2.4% |
| Valley Falls, RI | 11,907 | 113 | 13.5% |
| Somerset, KY | 11,896 | 86 | 13.8% |
| Meaford, ON | 11,896 | n/a | |
| Smithfield, UT | 11,904 | 109 | 8.8% |
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