The Most Affordable Neighborhoods in Smith Island, MD by Home Value

 

Smith Island, MD Map of Most Affordable Neighborhoods
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These days, finding an affordable place to live in the Smith Island area can be challenging. Home prices in Smith Island are now at a median cost of $119,200, lower than the Maryland average of $450,578.

The average cost of rent is $1,370/mo in Smith Island, primarily driven by the current value of real estate in the Smith Island area. In Smith Island, 24.11% of households rent, and 62.45% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Smith Island is $5,134 per month. Households that rent pay about 26.69% of their income on rent here. Smith Island’s most expensive areas are in the northern regions, while the cheapest areas are in the northern parts of the city.

Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.


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