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These days, finding an affordable place to live in the Smithfield area can be challenging. Home prices in Smithfield are now at a median cost of $140,370, lower than the Illinois average of $300,242.
The average cost of rent is $966/mo in Smithfield, primarily driven by the current value of real estate in the Smithfield area. In Smithfield, 18.11% of households rent, and 54.99% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Smithfield is $5,290 per month. Households that rent pay about 18.26% of their income on rent here. Smithfield’s most expensive areas are in the northern regions, while the cheapest areas are in the western parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Seville, IL: less expensive homes
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- Bryant, IL: higher priced homes
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Cities with Similar Populations
- Osmond, NC: higher priced homes
- Rock Creek, ID: higher priced homes
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- Richards, TX: higher priced homes
- Reliance, TN: equally priced homes
- Reklaw, TX: higher priced homes
- Reading, KS: higher priced homes
- Reader, WV: less expensive homes
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