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Cost of homeownership in Smyth County, Virginia

Real dollar cost of ownership, rent-vs-buy analysis, and flood risk, backed by Census ACS, FEMA, and FHFA data. Population: 29,799.

Median home value
$120,600
Median property tax
$754
Monthly owner cost
$1,055
with mortgage
Affordability (cost % of income)
13.4%

Total annual ownership cost

Breakdown of what owning a typical home in Smyth County costs each year.

  • Property taxes$754
  • Insurance estimate$1,500
  • Utilities / energy$1,650
  • Maintenance (1% of value)$1,206
  • Total$5,110/yr · $426/mo

Insurance and energy figures typically vary by property. Adjust in the calculators for a personalized estimate.

Total
$5,110
/ year

Rent vs. buy in Smyth County

Pre-filled with local median home value, median gross rent (Census ACS / HUD FMR), and current FRED rate.

Flood risk

Historical signal from FEMA National Flood Insurance Program.

MODERATE RISK
Total claims
27
Avg claim
$15,324
Active policies
13
Avg premium
$858
NFIP policy

Historical claims do not capture uninsured properties. A low score does not eliminate flood risk. FEMA flood-zone maps at msc.fema.gov list parcel-level designations.

Full flood-risk breakdown →

Home price trend in Virginia

FHFA House Price Index, quarterly.

vs. Virginia average
Home value below state average.
Property tax below state average.
Homeownership
68.4%

Share of units owner-occupied (Census ACS).

Median household income
$45,061

Census ACS 5-year estimate.

Housing cost burden in Smyth County

Share of households paying 30% or more of income on housing (HUD CHAS 2017-2021). HUD does not publish county-level CHAS rollups through the public API, so Virginia state data is shown for local context alongside the US average.

Virginia: 30%+ cost burdened
40.0%
2,164,965 households surveyed
Virginia: severely burdened (50%+)
17.6%
Paying at least half of income on housing.
Owner vs renter burden
Owner 30%+: 29.5%
Renter 30%+: 26.1%
Renters typically carry a heavier cost burden than owners with a fixed-rate mortgage.

Affordability by income bracket

Monthly 30% housing budget at each income vs the median owner cost in Smyth County. Bars above the dashed line can absorb this county's typical ownership cost.

HUD area median income (4-person household) for Virginia: $118,800. Income limits define 80% AMI at $95,050 and 50% AMI at $59,400.

Frequently asked questions

How much does it cost to own a home in Smyth County?

Based on Census ACS, typical total annual cost in Smyth County is around $5,110 ($426 per month), covering property tax, insurance estimate, utilities, and 1% maintenance. Your actual cost varies by home age, size, and location within the county.

What is the property tax in Smyth County?

Median annual property tax is $754 on the county's median home value of $120,600 (Census ACS).

Is it cheaper to rent or buy in Smyth County?

Annual ownership cost is roughly 38% lower than annual rent at the county's median. Use the calculator below to model your specific situation.

What is the flood risk in Smyth County?

moderate historical flood-risk score from FEMA NFIP: 27 claims, average claim $15,324.

Data sources

Disclaimer. HomeRule is not a real estate agent, lender, appraiser, or financial advisor. This content is for educational and informational purposes only. Actual costs vary significantly by property, location, and individual circumstances. Consult qualified professionals for personalized advice.