Smithfield, VA Cost Of Living
Cost Of Living In Smithfield, VA Summary
Cost of living in Smithfield research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Smithfield is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Virginia, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Smithfield is 115, with 100 being the average.
The cost of living index in Smithfield is 1.1x higher than the national average.
Smithfield ranks as the #75 cheapest in Virginia out of 190.
Smithfield ranks as the #4,090 cheapest out of 6,489 in the US.
The median home value in Smithfield is $386,237.
The median income in Smithfield is $110,182.
Table Of Contents
Smithfield's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Smithfield, VA?
According to the most recent data on the cost of living, Smithfield has an overall cost of living index of 115, which is 1.1x higher than the national index of 100.
Compared to Virginia, Smithfield has a cost of living index that's 1.0x higher than Virginia's index of 110.
The standard of living in Smithfield ranks as #75 most affordable out of the 190 places we measured in Virginia. By definition, that implies Smithfield ranks as the #115 most expensive place in the Old Dominion.
For more reading on life in Smithfield, check out:
In Virginia
In America
Smithfield Cost Of Living Vs. Virginia
Six factors go into calculating the cost of living index in Smithfield. Here is how it fairs on each of the criteria:
The Services index in Smithfield is 101.
The Groceries index in Smithfield is 99.
The Health index in Smithfield is 95.
The Housing index in Smithfield is 147.
The Transportation index in Smithfield is 102.
The Utilities index in Smithfield is 107.
| Living Expense | Smithfield | Virginia | National Average | |
|---|---|---|---|---|
| Overall | 115 | 110 | 100 | |
| Services | 101 | 101 | 100 | |
| Groceries | 99 | 99 | 100 | |
| Health | 95 | 98 | 100 | |
| Housing | 147 | 130 | 100 | |
| Transportation | 102 | 94 | 100 | |
| Utilities | 107 | 104 | 100 | |
Smithfield, VA Housing Cost Breakdown
Housing swings affordability the most between places in Virginia, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Smithfield is $386,237.
The Median Rent in Smithfield is $1,182.
The Median Income in Smithfield is $110,182.
The Home Value To Income in Smithfield is 3.5x.
The Rent To Monthly Income in Smithfield is 0.13x.
| Statistic | Smithfield | Virginia | United States |
|---|---|---|---|
| Median Home Value | $386,237 | $404,962 | $303,400 |
| Median Rent | $1,182 | $1,514 | $1,348 |
| Median Income | $110,182 | $90,974 | $78,538 |
| Home Value To Income | 3.5x | 4.5x | 3.9x |
| Rent To Monthly Income | 0.13x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Smithfield, VA Costs By Category
Detailed Smithfield Services Costs Vs. Virginia
| Item | Smithfield | Virginia |
|---|---|---|
| Shampoo | $1.26 | $1.28 |
| Movie | $13.31 | $12.13 |
| Bowling | $24.17 | $18 |
| Haircut | $20.0 | $24.26 |
| Beauty Salon | $54.17 | $45.56 |
Detailed Smithfield Groceries Costs Vs. Virginia
| Item | Smithfield | Virginia |
|---|---|---|
| Ground Beef | $5.54 | $5.84 |
| Fried Chicken | $1.44 | $1.57 |
| Milk | $4.63 | $4.67 |
| Potatoes | $5.27 | $4.93 |
| Pizza | $12.72 | $12.09 |
| Beer | $10.64 | $10.41 |
| Toothpaste | $3.72 | $3.7 |
Detailed Smithfield Health Costs Vs. Virginia
| Item | Smithfield | Virginia |
|---|---|---|
| Optometrist | $95.44 | $125.68 |
| Doctor | $122.83 | $135.78 |
| Dentist | $109.67 | $113.29 |
Detailed Smithfield Transportation Costs Vs. Virginia
| Item | Smithfield | Virginia |
|---|---|---|
| Gasoline | $3.27 | $3.46 |
| Tire Balancing | $60.0 | $59.92 |
Detailed Smithfield Utilities Costs Vs. Virginia
| Item | Smithfield | Virginia |
|---|---|---|
| All Electricity | $227.22 | $193.99 |
| Phone | $185.33 | $192.25 |
Smithfield SnackAbility
/10
Cost Of Living In Cities Around Smithfield
The cost of living varies in the cities and towns around Smithfield. Here's a quick look at the cost of living in the most populous nearby places:
Virginia Beach, VA has a cost of living index of 116, 1.0x Smithfield.
Chesapeake, VA has a cost of living index of 117, 1.0x Smithfield.
Norfolk, VA has a cost of living index of 103, 0.9x Smithfield.
| City | Population | Cost Of Living | Vs. Smithfield |
|---|---|---|---|
| Virginia Beach, VA | 457,066 | 116 | 1.0x |
| Chesapeake, VA | 251,153 | 117 | 1.0x |
| Norfolk, VA | 235,037 | 103 | 0.9x |
| Newport News, VA | 184,774 | 104 | 0.9x |
| Hampton, VA | 137,334 | 102 | 0.9x |
| Portsmouth, VA | 97,299 | 103 | 0.9x |
| Suffolk, VA | 96,638 | 112 | 1.0x |
| Colonial Heights, VA | 18,210 | 101 | 0.9x |
| Poquoson, VA | 12,556 | 124 | 1.1x |
| Gloucester Point, VA | 11,159 | 108 | 0.9x |
