Smithfield, VA Profile: Facts & Data

Smithfield, Virginia - Basic Facts

The Town of Smithfield had a population of 8,904 as of July 1, 2024.

The primary coordinate point for Smithfield is located at latitude 36.9824 and longitude -76.6311 in Isle of Wight County. The formal boundaries for the Town of Smithfield encompass a land area of 9.46 sq. miles and a water area of 0.92 sq. miles. Isle of Wight County is in the Eastern time zone (GMT -5).

The Town of Smithfield has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

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Smithfield, VA Data & Demographics (As of July 1, 2024)

POPULATION
Total Population	8,904 (100%)
Population in Households	8,817 (99.0%)
Population in Families	7,463 (83.8%)
Population in Group Quarters¹	87 ( 1.0%)
Population Density	916
Diversity Index²	55


INCOME
Median Household Income	$96,996
Average Household Income	$120,701
% of Income for Mortgage⁴	24%
Per Capita Income	$48,623
Wealth Index⁵	128
Socioeconomic Status Index⁶	Moderate (52.3)

HOUSING
Total HU (Housing Units)	3,805 (100%)
Owner Occupied HU	2,768 (72.7%)
Renter Occupied HU	818 (21.5%)
Vacant Housing Units	219 ( 5.8%)
Median Home Value	$374,226
Average Home Value	$406,656
Housing Affordability Index³	104

HOUSEHOLDS
Total Households	3,586
Average Household Size	2.46
Family Households	2,523
Average Family Size	3.00

HOUSING

Total HU (Housing Units)

3,805 (100%)

Owner Occupied HU

2,768 (72.7%)

Renter Occupied HU

818 (21.5%)

Vacant Housing Units

219 ( 5.8%)

Median Home Value

$374,226

Average Home Value

$406,656

Housing Affordability Index³

104

HOUSEHOLDS

Total Households

3,586

Average Household Size

2.46

Family Households

2,523

Average Family Size

3.00

NOTES

Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

GROWTH RATE / YEAR	2020-2024	2024-2029
Population	1.01%	0.77%
Households	1.35%	1.03%
Families		0.83%
Median Household Income		3.01%
Per Capita Income		3.27%
Owner Occupied HU		1.72%

GROWTH RATE / YEAR

2020-2024

2024-2029

Population

1.01%

0.77%

Households

1.35%

1.03%

Families

0.83%

Median Household Income

3.01%

Per Capita Income

3.27%

Owner Occupied HU

1.72%

Smithfield, VA - Peer Comparisons by Rank and Percentile

The table below compares Smithfield to the other 688 incorporated cities, towns and CDPs in Virginia by rank and percentile using July 1, 2024 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description	Rank	Percentile
Total Population	# 142	80th
Population Density	# 277	60th
Median Household Income	# 181	74th
Housing Affordability Index	# 450	65th
Per Capita Income	# 190	73rd
Diversity Index	# 279	60th

Variable Description

Rank

Percentile

Total Population

# 142

80th

Population Density

# 277

60th

Median Household Income

# 181

74th

Housing Affordability Index

# 450

65th

Per Capita Income

# 190

73rd

Diversity Index

# 279

60th

Virginia Census Data Comparison Tool

Smithfield, VA Profile: Facts & Data

Smithfield, Virginia - Basic Facts

Smithfield, VA Data & Demographics (As of July 1, 2024)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Smithfield, VA - Peer Comparisons by Rank and Percentile

Smithfield, VA - Most Popular Things to Do

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Isle of Wight County