Smithfield, UT—84335
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Smithfield, UT
As of Oct '25, the median home price in Smithfield, UT is $470,000, with a year-over-year change of 2.1%. This indicates that home prices in Smithfield, UT are increasing. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $470,000 | 2.1% |
| Single Family | $471,000 | 2.2% |
| 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 | $407,000 | 0.7% |
4 Bed | $466,000 | 0.9% |
| 5 Bed | $566,000 | 1.6% |
% of Housing Stock
Rental Trends — Smithfield, UT
As of July '25, Rentcast reports the average rent in Smithfield, UT is $1,820, with a year-over-year rent change of -0.5%. Per bedroom, the median rent as of July '25 in Smithfield, UT is 1-bedrooms: $795, 2-bedrooms: $1,340, 3-bedrooms: $1,600, 4-bedrooms: $2,200. The most common rental property sizes in Smithfield, UT are 3-bedroom and 2-bedroom, accounting for 39.9% and 33.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,720 | $1,820 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $795 | $795 |
| 2 Bed Rent | $1,260 | $1,340 |
| 3 Bed Rent | $1,600 | $1,600 |
| 4 Bed Rent | $2,200 | $2,200 |
% of Rental Stock
Property Listings — Smithfield, UT
As of Oct '25, Realtor.com reports that the median days on market for a home in Smithfield, UT is 60. This is a increase of 9.0% 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 40.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $516,000 | -4.0% |
Listing Count | 91 | 22.0% |
| Listings as % of Homes | 1.0% | 22.0% |
Days on Market | 60 | 9.0% |
Demographics — Smithfield, UT
As of the latest ACS Survey released in 2023, Smithfield, UT has a population of 16,300, which has increased by 26.3% over the past 5 years. Smithfield, UT is a popular place for families, as children make up 37.3% of the population. The area has a moderately educated workforce, with 39.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 16,300 | 26.3% |
% Under 18 | 37.3% | 0.5% |
% Seniors | 9.2% | -8.0% |
% WFH | 16.9% | 275.6% |
% w/ College Degree | 39.8% | 14.4% |
As of the latest ACS Survey released in 2023, Smithfield, UT is a predominantly white area, with 88.6% of the population identifying as white. The white population has shrunk by 3.6% in the last 5 years. The second most common race or ethnicity in Smithfield, UT is hispanic, making up 6.6% of the population. Foreign-born residents account for 3.4% of the population in Smithfield, UT, and this percentage has decreased by 15.0% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 88.6% | -3.6% |
% Black | 0.5% | ∞% |
% Hispanic | 6.6% | 15.8% |
% Asian | 0.2% | -80.0% |
% Foreign Born | 3.4% | -15.0% |
Mortgage and Risk — Smithfield, UT
According to HUD data as of 2023, there were 399 mortgage originations in Smithfield, UT, of which 85.0% of loans were conventional mortgages. The average loan-to-value was 49.0%, with 19.0% above 90% LTV (elevated). This implies medium mortgage risk in Smithfield, UT. Investor activity is low, as 1.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 399 |
% Conventional Loans | 85.0% |
% Government Loans | 15.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Smithfield, UT
As of 2024, the percent of homes in Smithfield, UT under the Section 8 program is 0.4%. 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. 1-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Smithfield, UT, because HUD payments exceed market rent, while 2-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 5 |
Total Units Section 8 | 5 |
% Rentals under Section 8 | 0.4% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $195 | $795 | $990 |
| 2 Bedroom | $0 | $1,260 | $1,260 |
| 3 Bedroom | $170 | $1,600 | $1,770 |
| 4 Bedroom | -$80 | $2,200 | $2,120 |
Affordability — Smithfield, UT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.1 |
| Median Home Price | $470,000 |
| Median Household Income | $90,800 |