Smithfield, NC—27577
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Smithfield, NC
As of Oct '25, the median home price in Smithfield, NC is $287,000, with a year-over-year change of -2.3%. This indicates that home prices in Smithfield, NC are decreasing. According to Zillow, the 1-year price projection is 0.6%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $287,000 | -2.3% |
| Single Family | $287,000 | -2.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $173,000 | -3.4% |
3 Bed | $281,000 | -2.4% |
4 Bed | $391,000 | -1.5% |
| 5 Bed | $430,000 | -2.3% |
% of Housing Stock
Rental Trends — Smithfield, NC
As of July '25, Rentcast reports the average rent in Smithfield, NC is $1,720, with a year-over-year rent change of 0.6%. Per bedroom, the median rent as of July '25 in Smithfield, NC is 1-bedrooms: $1,100, 2-bedrooms: $1,310, 3-bedrooms: $1,750, 4-bedrooms: $2,120. The most common rental property sizes in Smithfield, NC are 2-bedroom and 3-bedroom, accounting for 37.4% and 25.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,740 | $1,720 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,050 | $1,100 |
| 2 Bed Rent | $1,400 | $1,310 |
| 3 Bed Rent | $1,750 | $1,750 |
| 4 Bed Rent | $2,050 | $2,120 |
% of Rental Stock
Property Listings — Smithfield, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Smithfield, NC is 89. This is a increase of 30.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 21.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $342,000 | 1.0% |
Listing Count | 201 | 2.0% |
| Listings as % of Homes | 1.6% | 2.0% |
Days on Market | 89 | 30.0% |
Demographics — Smithfield, NC
As of the latest ACS Survey released in 2023, Smithfield, NC has a population of 26,900, which has increased by 6.4% over the past 5 years. Smithfield, NC is a moderately popular place for families, as children make up 23.9% of the population. The area has a poorly educated workforce, with 21.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 26,900 | 6.4% |
% Under 18 | 23.9% | 10.6% |
% Seniors | 16.3% | -1.2% |
% WFH | 5.3% | 1.9% |
% w/ College Degree | 21.5% | 19.4% |
As of the latest ACS Survey released in 2023, Smithfield, NC is a predominantly white area, with 56.9% of the population identifying as white. The white population has grown by 0.7% in the last 5 years. The second most common race or ethnicity in Smithfield, NC is hispanic, making up 20.8% of the population. Foreign-born residents account for 11.6% of the population in Smithfield, NC, and this percentage has remained stable as of the ACS Survey 5 years prior, suggesting immigration has remained steady.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 56.9% | 0.7% |
% Black | 18.6% | -11.8% |
% Hispanic | 20.8% | 10.1% |
% Asian | 1.3% | -13.3% |
% Foreign Born | 11.6% | 0.0% |
Mortgage and Risk — Smithfield, NC
According to HUD data as of 2023, there were 586 mortgage originations in Smithfield, NC, of which 73.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 35.0% above 90% LTV (very high). This implies large mortgage risk in Smithfield, NC. Investor activity is low, as 3.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 586 |
% Conventional Loans | 73.0% |
% Government Loans | 27.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Smithfield, NC
As of 2024, the percent of homes in Smithfield, NC under the Section 8 program is 11.9%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Smithfield, NC, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 623 |
Total Units Section 8 | 375 |
% Rentals under Section 8 | 11.9% |
% Occupied Section 8 | 92.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $270 | $1,050 | $1,320 |
| 2 Bedroom | $90 | $1,400 | $1,490 |
| 3 Bedroom | $90 | $1,750 | $1,840 |
| 4 Bedroom | $390 | $2,050 | $2,440 |
Affordability — Smithfield, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5 |
| Median Home Price | $287,000 |
| Median Household Income | $56,200 |