The typical owner-occupied home in Smithland is worth about $98,000, 52% below the Kentucky median of $205,600 and 71% below the national median of $332,700. Owners pay a median $633 a year in property taxes, about 0.65% of their home's value, lower than the Kentucky rate of 0.75%. The median household earns $36,563 a year, so the median home costs 2.7 times the median income (3.2 times for Kentucky). 68% of occupied homes here are lived in by their owners, and 54% of those owners still have a mortgage.
Smithland at a glance
| Smithland | Kentucky | U.S. | |
|---|---|---|---|
| Median home value | $98,000 | $205,600 | $332,700 |
| Median property tax paid per year | $633 | $1,544 | $3,119 |
| Property tax as a share of value | 0.65% | 0.75% | 0.94% |
| Median household income | $36,563 | $63,726 | $80,734 |
| Homes lived in by their owners | 68% | 68% | 65% |
| Owner homes with a mortgage | 54% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $1,105 | $1,433 | $1,963 |
| Those costs as a share of the owners' income | 14.1% | 18.8% | 21.0% |
| Median rent | $1,107 | $967 | $1,413 |
| Rent as a share of renters' income | 26.7% | 28.1% | 30.6% |
| Median year homes were built | 1961 | 1982 | 1980 |
| Vacant homes | 26.4% | 10.3% | 10.1% |
| Population | 203 | 4,534,824 | 334,922,499 |
What a typical home costs per month in Smithland
At this week's average 30-year rate of 7.11%, buying the median Smithland home of $98,000 with 20% down costs about $621 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $785, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $26,628 for the 20%-down payment. That payment is 20% of the median Smithland household income of $36,563; at that income and 20% down, the 28% guideline points to a home of about $135,000.
The median rent here is $1,107 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $19,600 |
|---|---|
| Loan amount | $78,400 |
| Principal and interest | $527 |
| Property taxes (0.65% a year) | $53 |
| Homeowners insurance (our estimate, 0.5% a year) | $41 |
| PMI | $0 |
| Total per month | $621 |
Change the numbers in the calculator
| Down payment | $3,430 |
|---|---|
| Loan amount | $96,225 |
| Principal and interest | $647 |
| Property taxes (0.65% a year) | $53 |
| Homeowners insurance (our estimate, 0.5% a year) | $41 |
| FHA mortgage insurance | $43 |
| Total per month | $785 |
Change the numbers in the calculator
Questions about home buying in Smithland
What is the median home value in Smithland?
About $98,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Smithland?
Homeowners pay a median $633 a year, which is about 0.65% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Smithland?
For the median home with 20% down at 7.11%, the payment is about $621 a month. Keeping that under 28% of gross income takes about $26,628 a year.
More about Smithland
- Mortgage Refinance in Smithland
- Debt Relief in Smithland
- Home Equity Loans in Smithland
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data