Smithfield, KY—40068
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Smithfield, KY
As of Oct '25, the median home price in Smithfield, KY is $391,000, with a year-over-year change of 4.9%. This indicates that home prices in Smithfield, KY are increasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $391,000 | 4.9% |
| Single Family | $392,000 | 5.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $348,000 | 3.9% |
4 Bed | $487,000 | 1.0% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Smithfield, KY
Smithfield, KY lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Smithfield, KY
As of Oct '25, Realtor.com reports that the median days on market for a home in Smithfield, KY is 42. This is a decrease of -37.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 36.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $550,000 | -1.0% |
Listing Count | 11 | 10.0% |
| Listings as % of Homes | 0.9% | 10.0% |
Days on Market | 42 | -37.0% |
Demographics — Smithfield, KY
As of the latest ACS Survey released in 2023, Smithfield, KY has a population of 2,660, which has increased by 33.1% over the past 5 years. Smithfield, KY is a moderately popular place for families, as children make up 20.7% of the population. The area has a moderately educated workforce, with 28.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 22.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 2,660 | 33.1% |
% Under 18 | 20.7% | 34.4% |
% Seniors | 18.2% | 26.4% |
% WFH | 22.1% | 281.0% |
% w/ College Degree | 28.2% | 190.7% |
As of the latest ACS Survey released in 2023, Smithfield, KY is a predominantly white area, with 88.5% of the population identifying as white. The white population has shrunk by 6.4% in the last 5 years. The second most common race or ethnicity in Smithfield, KY is hispanic, making up 6.3% of the population. Foreign-born residents account for 2.4% of the population in Smithfield, KY, and this percentage has increased by 166.7% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 88.5% | -6.4% |
% Black | 2.3% | 2,200.0% |
% Hispanic | 6.3% | 320.0% |
% Asian | 0.0% | N/A |
% Foreign Born | 2.4% | 166.7% |
Mortgage and Risk — Smithfield, KY
According to HUD data as of 2023, there were 72 mortgage originations in Smithfield, KY, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 21.0% above 90% LTV (very high). This implies large mortgage risk in Smithfield, KY. 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 | 72 |
% Conventional Loans | 81.0% |
% Government Loans | 19.0% |
% Investor Loans | 3.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Smithfield, KY
Smithfield, KY lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 3 |
Total Units Section 8 | 3 |
% Rentals under Section 8 | 2.0% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,080 |
| 2 Bedroom | N/A | N/A | $1,300 |
| 3 Bedroom | N/A | N/A | $1,670 |
| 4 Bedroom | N/A | N/A | $1,930 |
Affordability — Smithfield, KY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.7 |
| Median Home Price | $391,000 |
| Median Household Income | $75,200 |