Smyth County, Virginia Housing Market Prices
Smyth County 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 91% below the Virginia median Among the top 5 cheapest counties in Virginia$24,100
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Median rent 54% below the Virginia median Cheaper than 95% of counties in Virginia$730
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Smyth County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $24,100 | $256,082 | $248,835 |
| Price Trend (Annual %) | 1.8% | 3.5% | 7.5% |
| Median Gross Rent | $730 | $1,579 | $1,407 |
| Rent Trend (Annual %) | 3.1% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Smyth County is about 91% lower than in Virginia. Rent is about 54% lower than the Virginia 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 Smyth County, up about 1.8% and 3.1% a year respectively. Rent is changing faster.
Median rent in Smyth County rose about 27.2% between 2015 and 2024, from $574 to $730. Over the same span, rent in Virginia rose about 41.5%.
Affordability
On average, housing unit costs 0.5 yearly household incomes in Smyth County.
Buying the median-priced home in Smyth County costs roughly 2.8 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Smyth County. The price-to-rent ratio in Virginia is about 13.5.
| Metric | Smyth County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $24,100 | $256,082 | $248,835 |
| Median Household Income | $49,886 | $93,527 | $80,455 |
| Price-to-Income Ratio | 0.5 | 2.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Smyth County fell about 81.9%, while median household income rose about 30.7% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Smyth County | Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 59.6% | 61.5% | 58.5% |
| Rental Rate | 24.4% | 29.8% | 31.2% |
| Vacancy Rate | 16.0% | 8.7% | 10.2% |
| Median Tenure (years) | 18.0 | 15.0 | 15.0 |
| Median Year Moved In | 2008 | 2011 | 2011 |
Smyth County has a homeownership rate of 59.6%, lower than the Virginia average of 61.5%. Its housing vacancy rate is 16.0%, compared with 8.7% in Virginia.
Housing Stock
| Metric | Smyth County | Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.26 people | 2.52 people | 2.53 people |
| Median Structure Built Year | 1974 | 1982 | 1978 |
| Median Number of Rooms | 5.6 | 6.0 | 5.5 |
The typical housing unit in Smyth County was built around 1974. On average, 2.3 people live in a home with about 5.6 rooms, staying for about 18.0 years on average.
Smyth County, VA Housing Compared With Nearby Counties
Smyth County, VA is typical in size for this group, 29,374 residents against a local median of 33,900, so the measures below are close to a like for like comparison. Where Smyth County, VA breaks from the counties next to it is median home price, sitting 84% below the local median of $152,690 at $24,100.
The counties themselves spread $94,130 on median home price, so Smyth County, VA sits at one end of an already wide local range rather than apart from it. Smyth County, VA has the 5th highest median home price of the 5 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Smyth County, VA | 29,374 | $24,100 #5/5 | $730 #5/5 | 71.0% #5/5 |
| Tazewell County, VA | 39,616 | $184,376 | $794 | 74.4% |
| Grayson County, VA | 15,277 | $90,246 | $765 | 80.4% |
| Washington County, VA | 53,901 | $174,865 | $853 | 75.8% |
| Wythe County, VA | 28,184 | $130,514 | $764 | 77.0% |
Frequently Asked Questions
Common questions about the housing market in Smyth County, Virginia.
What is the median home price in Smyth County, Virginia?
The median home price in Smyth County, Virginia is $24,100, lower than the Virginia average of $256,082.
What is the average home price in Smyth County, Virginia?
The typical home price in Smyth County, Virginia, reported as the median sale price, is $24,100. 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 Smyth County, Virginia?
The median gross rent in Smyth County, Virginia is $730 per month, lower than the Virginia average of $1,579.
What was the median gross rent in Smyth County in 2020?
In 2020, the median gross rent in Smyth County, Virginia was $615 per month.
What is the price-to-rent ratio in Smyth County, Virginia?
The price-to-rent ratio in Smyth County, Virginia is about 2.8, meaning it would take roughly 2.8 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Smyth County.
Are home prices or rent rising faster in Smyth County, Virginia?
Both home prices and rent are rising in Smyth County, up about 1.8% and 3.1% a year respectively. Rent is changing faster.
What is the homeownership rate in Smyth County, Virginia?
59.6% of households in Smyth County, Virginia own their home, lower than the Virginia average of 61.5%.
What is the vacancy rate in Smyth County, Virginia?
The housing vacancy rate in Smyth County, Virginia is 16.0%, higher than the Virginia average of 8.7%.
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