Cost of Living in Smithfield, VA

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C
18%
Overall NAT. AVG.
3%
Groceries NAT. AVG.
48%
Housing NAT. AVG.
Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
The cost of living index is based on a national average of 100. For example, if the cost of living score is 90, then the estimated cost of living is 10% lower than the national average. If the score is 110, then the estimated cost of living is 10% higher than average. The overall index is calculated using weighted estimates across major everyday expense categories, including housing (30%), groceries (16%), transportation (12%), healthcare (10%), utilities (8%), lifestyle and entertainment (8%), household expenses (8%), and education and childcare (8%). All values are AI-assisted city-level estimates designed for directional comparisons.
Index Smithfield Virginia National
Cost of living118111100
Groceries103103100
Health care104103100
Housing148129100
Transportation107105100
Utilities108104100
Lifestyle & Entertainment105103100
Household Items103102100
Education & Childcare103109100
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Homes For Sale In Smithfield, VA

property for sale

9516 Colonial Trl E

Smithfield, VA
property for sale

LOT 11 Longwood Dr

Rushmere, VA
property for sale

101 Red Point Dr

Smithfield, VA
property for sale

209 Bishop Cir

Smithfield, VA

Cost Of Living Quick Facts

  • The cost of living in Smithfield is 6% higher than the Virginia average
  • The cost of living in Smithfield is 18% higher than the national average
  • Smithfield housing is 48% higher than the national average
  • Virginia general sales tax is 4% higher than the national average
  • Virginia state income tax is 23% lower than the national average

Most Affordable Places to Live in and Around Smithfield

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      Salary Calculator

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      Price difference in compared to
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      Health care index
      Housing index
      Transportation index
      Utilities index
      Lifestyle index
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      Educare index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$158,979$13,248$3,709$4,770
      Renters$49,660$4,138$1,159$1,490
      To approximate the cost of living and the housing affordability in Smithfield, VA, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Smithfield have a median income of $158,979. Therefore, the amount that a consumer should spend on housing costs should be no more than $3,709 per month to avoid calamity and poverty. The renters in the city have an income of about $49,660, which would make their monthly maximum allowable rental costs $1,159.

      Virginia Sales Tax

      State General Sales Tax With Max Surtax
      Virginia 5.3% 6%

      Virginia Income Tax

      State Income Tax (Low) Income Tax (High)
      Virginia 2% 5.75%

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Benns Church, VA6631054.6%
      Windsor, VA2,8481033.0%
      Hampton, VA138,8881055.0%
      Newport News, VA184,1341055.3%
      Surry, VA3371066.0%
      Smithfield, VA8,78411817.7%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Prien, LA8,78511212.0%
      Montvale, NJ8,78516565.0%
      Live Oak city, CA8,7861076.7%
      Jennings Lodge, OR8,78112221.8%
      Fort Lupton, CO8,78711615.6%
      Smithfield, VA8,78411817.7%
      Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
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