The typical owner-occupied home in Smithville is worth about $194,200, 32% below the Tennessee median of $286,700 and 42% below the national median of $332,700. Owners pay a median $736 a year in property taxes, about 0.38% of their home's value, lower than the Tennessee rate of 0.50%. The median household earns $33,192 a year, so the median home costs 5.9 times the median income (4.1 times for Tennessee). 55% of occupied homes here are lived in by their owners, and 58% of those owners still have a mortgage.
Smithville at a glance
| Smithville | Tennessee | U.S. | |
|---|---|---|---|
| Median home value | $194,200 | $286,700 | $332,700 |
| Median property tax paid per year | $736 | $1,442 | $3,119 |
| Property tax as a share of value | 0.38% | 0.50% | 0.94% |
| Median household income | $33,192 | $69,595 | $80,734 |
| Homes lived in by their owners | 55% | 67% | 65% |
| Owner homes with a mortgage | 58% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,137 | $1,566 | $1,963 |
| Those costs as a share of the owners' income | 27.9% | 19.6% | 21.0% |
| Median rent | $740 | $1,189 | $1,413 |
| Rent as a share of renters' income | 33.7% | 29.5% | 30.6% |
| Median year homes were built | 1976 | 1987 | 1980 |
| Vacant homes | 7.3% | 10.2% | 10.1% |
| Population | 5,288 | 7,066,383 | 334,922,499 |
What a typical home costs per month in Smithville
At this week's average 30-year rate of 7.11%, buying the median Smithville home of $194,200 with 20% down costs about $1,188 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,511, 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 $50,894 for the 20%-down payment. That payment is 43% of the median Smithville household income of $33,192; at that income and 20% down, the 28% guideline points to a home of about $127,000.
The median rent here is $740 a month, so owning the median home costs about $448 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $38,840 |
|---|---|
| Loan amount | $155,360 |
| Principal and interest | $1,045 |
| Property taxes (0.38% a year) | $62 |
| Homeowners insurance (our estimate, 0.5% a year) | $81 |
| PMI | $0 |
| Total per month | $1,188 |
Change the numbers in the calculator
| Down payment | $6,797 |
|---|---|
| Loan amount | $190,683 |
| Principal and interest | $1,283 |
| Property taxes (0.38% a year) | $62 |
| Homeowners insurance (our estimate, 0.5% a year) | $81 |
| FHA mortgage insurance | $86 |
| Total per month | $1,511 |
Change the numbers in the calculator
Questions about home buying in Smithville
What is the median home value in Smithville?
About $194,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Smithville?
Homeowners pay a median $736 a year, which is about 0.38% 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 Smithville?
For the median home with 20% down at 7.11%, the payment is about $1,188 a month. Keeping that under 28% of gross income takes about $50,894 a year.
More about Smithville
- Mortgage Refinance in Smithville
- Debt Relief in Smithville
- Home Equity Loans in Smithville
- 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