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New Report Fall 2026 Housing Affordability Report: every state is less affordable than in late August as average 30-year mortgage rates passed 7%. Read the report

Smithfield, VA Housing Affordability Index

Smithfield, Virginia has an MBR Housing Affordability Index score of 105.0 (Near National Average) as of October 30, 2026, ranking 218th most affordable of 344 scored Virginia cities, compared with 94.8 statewide and 97.4 nationally. On a median-priced $374,900 home with 20% down, the Virginia average 30-year fixed rate of 7.33% means a monthly principal and interest payment of about $2,063, or 22% of the city’s $113,158 median household income.

The MBR Housing Affordability Index (MBR-HAI) for Smithfield is updated every night from live Virginia mortgage rates and U.S. Census Bureau income, home value and housing cost data for the city. A score of 100 equals the national average; higher scores mean homeownership is more affordable.

Smithfield MBR-HAI 105.0 Near National Average
Rank in Virginia 218 of 344 1 = most affordable
Virginia 94.8 Statewide score
National 97.4 100 = baseline
Avg 30-yr rate 7.33% Virginia lenders
Median home value $374,900 U.S. Census Bureau

Smithfield is 10.1 points above the Virginia score. Scores as of October 30, 2026. See the Virginia index

View Smithfield Mortgage Rates

What It Takes to Buy in Smithfield

$2,063/mo
Principal & Interest
Median home, 20% down, 7.33%
$88,400
Income Needed
To keep the payment at 28% of income
$113,158
Median Household Income
Virginia: $93,170
3.3x
Price-to-Income Ratio
Virginia: 4.1x
$2,055/mo
Median Owner Costs
Mortgage, taxes, insurance, utilities
$3,022/yr
Median Property Tax
0.81% of median value
23.4%
Owner Cost Burden
Owners spending 30%+ of income on housing
54.4%
Renter Cost Burden
Renters spending 30%+ of income on rent

Source: U.S. Census Bureau American Community Survey 5-Year Estimates (2024) for Smithfield, Virginia. The rate is the Virginia average 30-year fixed rate from MonitorBankRates, since lenders publish rates by state.

Cite the Smithfield Score

“MonitorBankRates (MBR) Housing Affordability Index, MonitorBankRates.com, October 30, 2026. Smithfield, Virginia score: 105.0 (Near National Average), ranked 218 of 344 Virginia cities. monitorbankrates.com/housing-affordability-index/virginia/smithfield”