Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 12,022, 4,349 total housing units (homes and apartments), and a median house value of $165,311, Smithfield real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Smithfield, accounting for 68.26% of the town's housing units. Other types of housing that are prevalent in Smithfield include duplexes, homes converted to apartments or other small apartment buildings ( 13.26%), large apartment complexes or high rise apartments ( 9.31%), and a few row houses and other attached homes ( 6.24%).
The most prevalent building size and type in Smithfield are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 48.84% owning and 51.16% renting.
There is a lot of housing in Smithfield built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Smithfield built between 1940-1969 ( 41.75%). A lesser amount of the housing stock also hails from before 1939 ( 7.66%). There's also some housing in Smithfield built between 2000 and later ( 6.90%).
Vacant housing appears to be an issue in Smithfield. Fully 12.74% of the housing stock is classified as vacant. Left unchecked, vacant Smithfield homes and apartments can be a drag on the real estate market, holding Smithfield real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Real estate appreciation rates in Smithfield's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.59% during the period.
Over the last year, Smithfield appreciation rates have trailed the rest of the nation. In the last twelve months, Smithfield's appreciation rate has been 1.25%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Smithfield were at 2.42%, which equates to an annual appreciation rate of 10.04%.
Importantly, this makes Smithfield one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to North Carolina, our data show that Smithfield's latest annual appreciation rate is lower than 70% of the other cities and towns in North Carolina.
|$786,001 - $1,048,000||0.0|
|$524,001 - $786,000||0.4|
|$419,001 - $524,000||3.7|
|$314,001 - $419,000||4.3|
|$209,001 - $314,000||21.2|
|$105,001 - $209,000||42.5|
|$52,001 - $105,000||21.7|
|$0 - $52,000||6.1|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Smithfield HOMES|
|2000 or Newer||6.9|
|1970 - 1999||43.7|
|1940 - 1969||41.8|
|1939 or Older||7.7|
|TYPE OF Smithfield HOMES|
|Small Apt. Buildings||13.3|
|SIZE OF Smithfield HOMES|
|5 or more bedrooms||2.67|