Cost of Living in Smithfield, VA
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
148.4
100 = national avg
+48.4 vs national average
Living Wage (1 Adult)
$65,302
per year
Living Wage (Family of 4)
$154,349
per year
Cost Index by Category
Housing148.5
Food134.2
Transportation168.4
Healthcare127.4
Utilities130.2
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,512
per month
2 Bedroom
$1,713
per month
The overall cost of living index in Smithfield is 148.4, which is 48.4% above the national average. Housing costs are above the national average at an index of 148.5. A single adult needs to earn approximately $65,302 per year to cover basic expenses.