Smithfield, VA
Population 8,729 · Virginia
About Smithfield, VA
Smithfield is a small town located in Virginia with a population of 8,729 residents according to the latest US Census Bureau American Community Survey data. The median household income is $110,182 per year, which is 47% above the national median of $75,149. The median age of 46.9 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Smithfield features a median home value of $358,100, which is 46% above the national median of $244,900. This positions Smithfield in a moderately priced market relative to the rest of the country. Median monthly rent is $1,182, 2% above the national average of $1,163/month. Of the 3,646 total housing units, 82% are owner-occupied (2,846 units) and 18% are renter-occupied (607 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Smithfield shows an unemployment rate of 3.3%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 7.3%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Smithfield have an average one-way commute time of 30.4 minutes.
Education & Demographics
34.4% of Smithfield residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 0.5% White, 2.1% Hispanic or Latino, 2.0% Black or African American, and 1.3% Asian residents, with 3.7% of the population being foreign-born.
Cost of Living in Smithfield, VA
Compared to national averages, Smithfield has a median household income of $110,182 (47% above the national median of $75,149). Home values average $358,100, which is 46% above the national median. Monthly rent at $1,182 is 2% above the US average of $1,163. Within Virginia, Smithfield's income is 25% above the state average of $87,957, and home values are 9% above the state median of $327,514.
Why Live in Smithfield, VA?
Smithfield offers a strong local economy with a median household income of $110,182, well above the national average, and a strong job market with an unemployment rate of just 3.3%, and a well-educated community where 34.4% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 7.3%, better than the national average.
Smithfield has a population of 8,729 with a median age of 46.9 years. Compare Smithfield with other cities to see how it stacks up, or explore all cities in Virginia.
Similar Cities Near Smithfield
Cities in Virginia with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Dunn Loring | 8,782 | $236,563 | $935,000 | Compare |
| Montrose | 8,624 | $45,063 | $170,000 | Compare |
| Rockwood | 8,834 | $90,804 | $312,500 | Compare |
| Fair Lakes | 8,617 | $130,789 | $575,500 | Compare |
| Hollymead | 8,566 | $121,795 | $413,700 | Compare |
| Innsbrook | 8,559 | $130,534 | $445,600 | Compare |
| Pulaski | 8,937 | $50,409 | $152,800 | Compare |
| Bellwood | 8,489 | $50,172 | $192,600 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Virginia
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Smithfield With Other Cities
Frequently Asked Questions about Smithfield
What is the population of Smithfield, VA?
The population of Smithfield, VA is 8,729 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Virginia.
What is the median household income in Smithfield?
The median household income in Smithfield, VA is $110,182 per year, which is 47% above the national median of $75,149.
What is the median home value in Smithfield?
The median home value in Smithfield, VA is $358,100, which is 46% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Smithfield?
The median monthly rent in Smithfield, VA is $1,182, which is 2% above the national average of $1,163/month.
What is the unemployment rate in Smithfield?
The unemployment rate in Smithfield, VA is 3.3%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Smithfield, VA a good place to live?
Smithfield offers above-average incomes, a competitive housing market, and a strong job market. With a population of 8,729 and a median age of 46.9, the city appeals to established professionals and retirees.
How educated is Smithfield, VA?
34.4% of residents in Smithfield aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Smithfield?
Key cost-of-living indicators for Smithfield, VA: median home value is $358,100 (46% above national), median rent is $1,182/month, and median household income is $110,182. The home-value-to-income ratio is 3.3x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Smithfield?
The poverty rate in Smithfield, VA is 7.3%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Smithfield, VA?
Smithfield's population is 0.5% White, 2.1% Hispanic or Latino, 2.0% Black or African American, 1.3% Asian, and 18.9% two or more races. 3.7% of residents are foreign-born.