Smithfield, RI is a city with a vibrant local economy that offers plenty of opportunity for residents and visitors alike. There are many companies based in Smithfield, including Texas Instruments, Bosch Group, and YKK Corporation. The cost of living is quite reasonable, with two-bedroom rentals averaging around $1,250 per month and grocery costs slightly higher than the national average. Transportation to and from Smithfield is easy with access to Interstates 295 and 95 close by as well as the TF Green Airport in nearby Warwick. Additionally, there are public bus routes connecting Smithfield to Providence. With its strong economy and accessible transportation links, Smithfield is an ideal city for business and leisure alike.
Smithfield has an unemployment rate of 6.4%. The US average is 6.0%.
Smithfield has seen the job market decrease by -8.8% over the last year. Future job growth over the next ten years is predicted to be 32.2%, which is lower than the US average of 33.5%.
Tax Rates for Smithfield
- The Sales Tax Rate for Smithfield is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Smithfield is 3.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Smithfield
- The average income of a Smithfield resident is $40,495 a year. The US average is $37,638 a year.
- The Median household income of a Smithfield resident is $87,819 a year. The US average is $69,021 a year.