Smithfield, VA is a small town located in the state of Virginia. Despite its size, Smithfield offers plenty of attractions and amenities to its residents. The cost of living is relatively low; two bedroom rent averages $1,260 while the national average for two-bedroom rent sits at $1,430. Additionally, the grocery cost index in Smithfield is 100 compared to that of the nation's at 100 as well. Popular local businesses include Heavenly Ham and Smithfield Ice Cream Parlor. Other local establishments worth visiting are the Isle of Wight County Museum and Smithfield Station. With its moderate climate and abundance of activities, it's no wonder why many people flock to this charming town each year.
Smithfield has an unemployment rate of 4.6%. The US average is 6.0%.
Smithfield has seen the job market increase by 1.5% over the last year. Future job growth over the next ten years is predicted to be 33.3%, which is lower than the US average of 33.5%.
Tax Rates for Smithfield
- The Sales Tax Rate for Smithfield is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Smithfield is 5.8%. 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 $30,975 a year. The US average is $28,555 a year.
- The Median household income of a Smithfield resident is $92,913 a year. The US average is $69,021 a year.