Smithfield, VA Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

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 111, with 100 being the average.

  • The cost of living index in Smithfield is 1.1x higher than the national average.

  • Smithfield ranks as the #77 cheapest in Virginia out of 186.

  • Smithfield ranks as the #4,219 cheapest out of 6,412 in the US.

  • The median home value in Smithfield is $313,300.

  • The median income in Smithfield is $92,913.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
111
Smithfield's Overall Cost Of Living
1.1x
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 111, which is 1.1x higher than the national index of 100.

Compared to Virginia, Smithfield has a cost of living index that's 1.1x higher than Virginia's index of 102.

The standard of living in Smithfield ranks as #77 most affordable out of the 186 places we measured in Virginia. By definition, that implies Smithfield ranks as the #109 most expensive place in the Old Dominion.

For more reading on life in Smithfield, check out:

77 out of 186
In Virginia
4,219 out of 6,412
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 103.

  • The Groceries index in Smithfield is 94.

  • The Health index in Smithfield is 107.

  • The Housing index in Smithfield is 135.

  • The Transportation index in Smithfield is 94.

  • The Utilities index in Smithfield is 103.

Living Expense Smithfield Virginia National Average
Overall 111 102 100
Services 103 102 100
Groceries 94 98 100
Health 107 102 100
Housing 135 107 100
Transportation 94 95 100
Utilities 103 102 100
For more reading on cost of living around Virginia, check out:
Smithfield Cost of Living Vs. VA

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 2017-2021. The key points are:

  • The Median Home Value in Smithfield is $313,300.

  • The Median Rent in Smithfield is $985.

  • The Median Income in Smithfield is $92,913.

  • The Home Value To Income in Smithfield is 3.4x.

  • The Rent To Monthly Income in Smithfield is 0.13x.

Statistic Smithfield Virginia United States
Median Home Value $313,300 $295,500 $244,900
Median Rent $985 $1,326 $1,163
Median Income $92,913 $80,615 $69,021
Home Value To Income 3.4x 3.7x 3.5x
Rent To Monthly Income 0.13x 0.2x 0.2x
Search Homes For Sale In Smithfield, VA
$313,300
Median Home Value
$985
Median Rent
$92,913
Median Income

Smithfield, VA Costs By Category

Detailed Smithfield Services Costs Vs. Virginia

Item Smithfield Virginia
Shampoo $0.97 $1.06
Movie $11.73 $10.68
Bowling $18.0 $14.67
Haircut $21.36 $18.62
Beauty Salon $44.43 $39.05

Detailed Smithfield Groceries Costs Vs. Virginia

Item Smithfield Virginia
Ground Beef $3.61 $4.22
Fried Chicken $1.05 $1.39
Milk $1.58 $2.05
Potatoes $3.16 $3.29
Pizza $10.13 $10.62
Beer $9.82 $9.38
Toothpaste $1.85 $2.34

Detailed Smithfield Health Costs Vs. Virginia

Item Smithfield Virginia
Optometrist $116.2 $108.57
Doctor $139.74 $116.17
Dentist $99.4 $99.13

Detailed Smithfield Transportation Costs Vs. Virginia

Item Smithfield Virginia
Gasoline $2.01 $2.22
Tire Balancing $46.7 $50.07

Detailed Smithfield Utilities Costs Vs. Virginia

Item Smithfield Virginia
All Electricity $176.41 $167.67
Phone $177.97 $175.64

Smithfield SnackAbility

7
/10
Overall SnackAbility
Jobs
8/10
Housing
8.5
Affordability
8
Diversity
8.5
Safety
8
Amenities
8
Education
8
Commute
6

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 117, 1.1x Smithfield.

  • Chesapeake, VA has a cost of living index of 115, 1.0x Smithfield.

  • Norfolk, VA has a cost of living index of 107, 1.0x Smithfield.

City Population Cost Of Living Vs. Smithfield
Virginia Beach, VA 457,658 117 1.1x
Chesapeake, VA 247,172 115 1.0x
Norfolk, VA 238,556 107 1.0x
Newport News, VA 185,069 102 0.9x
Hampton, VA 136,748 99 0.9x
Portsmouth, VA 97,454 104 0.9x
Suffolk, VA 93,268 109 1.0x
Colonial Heights, VA 18,127 97 0.9x
Poquoson, VA 12,382 113 1.0x
Gloucester Point, VA 11,313 105 0.9x

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