Smithtown, New York Housing Market Prices
Smithtown Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 26% above the New York median$596,018
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Median rent 36% above the New York median$2,205
Housing Market Overview
| Metric | Smithtown | New York Avg | US Average |
|---|---|---|---|
| Median Home Price | $596,018 | $471,885 | $248,835 |
| Price Trend (Annual %) | 3.3% | 7.1% | 7.5% |
| Median Gross Rent | $2,205 | $1,621 | $1,407 |
| Rent Trend (Annual %) | 4.4% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Smithtown is about 26% higher than in New York. Rent is about 36% higher than the New York average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Smithtown, up about 3.3% and 4.4% a year respectively. Rent is changing faster.
Median rent in Smithtown rose about 55.2% between 2015 and 2024, from $1,421 to $2,205. Over the same span, rent in New York rose about 43.2%.
Affordability
On average, housing unit costs 3.8 yearly household incomes in Smithtown.
Buying the median-priced home in Smithtown costs roughly 22.5 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Smithtown. The price-to-rent ratio in New York is about 24.3.
| Metric | Smithtown | New York Avg | US Average |
|---|---|---|---|
| Median Home Price | $596,018 | $471,885 | $248,835 |
| Median Household Income | $155,011 | $86,556 | $80,455 |
| Price-to-Income Ratio | 3.8 | 5.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Smithtown rose about 48.1%, while median household income rose about 35.5% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Smithtown | New York Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 89.3% | 48.8% | 58.5% |
| Rental Rate | 7.5% | 41.1% | 31.2% |
| Vacancy Rate | 3.1% | 10.1% | 10.2% |
| Median Tenure (years) | 19.0 | 17.0 | 15.0 |
| Median Year Moved In | 2007 | 2009 | 2011 |
Smithtown has a homeownership rate of 89.3%, higher than the New York average of 48.8%. Its housing vacancy rate is 3.1%, compared with 10.1% in New York.
Housing Stock
| Metric | Smithtown | New York Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.93 people | 2.49 people | 2.53 people |
| Median Structure Built Year | 1968 | 1960 | 1978 |
| Median Number of Rooms | 7.5 | 5.0 | 5.5 |
The typical housing unit in Smithtown was built around 1968. On average, 2.9 people live in a home with about 7.5 rooms, staying for about 19.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Smithtown, New York.
What is the median home price in Smithtown, New York?
The median home price in Smithtown, New York is $596,018, higher than the New York average of $471,885.
What is the average home price in Smithtown, New York?
The typical home price in Smithtown, New York, reported as the median sale price, is $596,018. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Smithtown, New York?
The median gross rent in Smithtown, New York is $2,205 per month, higher than the New York average of $1,621.
What was the median gross rent in Smithtown in 2020?
In 2020, the median gross rent in Smithtown, New York was $1,729 per month.
What is the price-to-rent ratio in Smithtown, New York?
The price-to-rent ratio in Smithtown, New York is about 22.5, meaning it would take roughly 22.5 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Smithtown.
Are home prices or rent rising faster in Smithtown, New York?
Both home prices and rent are rising in Smithtown, up about 3.3% and 4.4% a year respectively. Rent is changing faster.
What is the homeownership rate in Smithtown, New York?
89.3% of households in Smithtown, New York own their home, higher than the New York average of 48.8%.
What is the vacancy rate in Smithtown, New York?
The housing vacancy rate in Smithtown, New York is 3.1%, lower than the New York average of 10.1%.
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