The typical owner-occupied home in Smithfield is worth about $82,500, 65% below the Nebraska median of $238,600 and 75% below the national median of $332,700. The median household earns $51,118 a year, so the median home costs 1.6 times the median income (3.1 times for Nebraska). 38% of occupied homes here are lived in by their owners, and 28% of those owners still have a mortgage.
Smithfield at a glance
| Smithfield | Nebraska | U.S. | |
|---|---|---|---|
| Median home value | $82,500 | $238,600 | $332,700 |
| Median property tax paid per year | – | $3,549 | $3,119 |
| Median household income | $51,118 | $76,475 | $80,734 |
| Homes lived in by their owners | 38% | 67% | 65% |
| Owner homes with a mortgage | 28% | 58% | 61% |
| Median monthly costs, owners with a mortgage | – | $1,736 | $1,963 |
| Median rent | $972 | $1,072 | $1,413 |
| Rent as a share of renters' income | 28.1% | 27.9% | 30.6% |
| Median year homes were built | 1981 | 1975 | 1980 |
| Vacant homes | 19.0% | 7.6% | 10.1% |
| Population | 108 | 1,978,707 | 334,922,499 |
What a typical home costs per month in Smithfield
At this week's average 30-year rate of 7.11%, buying the median Smithfield home of $82,500 with 20% down costs about $554 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $691, 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 $23,742 for the 20%-down payment. That payment is 13% of the median Smithfield household income of $51,118; at that income and 20% down, the 28% guideline points to a home of about $178,000.
The median rent here is $972 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $16,500 |
|---|---|
| Loan amount | $66,000 |
| Principal and interest | $444 |
| Property taxes (1.10% a year) | $76 |
| Homeowners insurance (our estimate, 0.5% a year) | $34 |
| PMI | $0 |
| Total per month | $554 |
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| Down payment | $2,888 |
|---|---|
| Loan amount | $81,006 |
| Principal and interest | $545 |
| Property taxes (1.10% a year) | $76 |
| Homeowners insurance (our estimate, 0.5% a year) | $34 |
| FHA mortgage insurance | $36 |
| Total per month | $691 |
Change the numbers in the calculator
Questions about home buying in Smithfield
What is the median home value in Smithfield?
About $82,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
What income do you need to buy a home in Smithfield?
For the median home with 20% down at 7.11%, the payment is about $554 a month. Keeping that under 28% of gross income takes about $23,742 a year.
More about Smithfield
- Mortgage Refinance in Smithfield
- Debt Relief in Smithfield
- Home Equity Loans in Smithfield
- 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