At $1,640/mo, rent takes about 45% of the local median household income, well above the 30% benchmark.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,640 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
Rent in Smithfield changed +4.7% over the year to September 2026. Across the 94 North Carolina cities Zillow tracks, the typical change was +2.9%.
Rent has risen 2 months in a row, and rose in 8 of the last 12 months.
30% of the median household income ($43,270) is $1,082 a month. That is less than HUD's Fair Market Rent for a studio ($1,290).
From Zillow's monthly rent index (ZORI) for Smithfield. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Smithfield, NC is majority owner-occupied, has a large retiree population, has a median income below the national average, 26.7% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Smithfield, NC has changed in 5 years
Local incomes tracked alongside that move, going from a median of $33,957 in 2021 to $43,270 more recently. Census counts show Smithfield, NC adding about 948 residents over the five-year window, up 8.5% on net. The renter share has eased from 48.3% to 41.3%, with owner-occupied housing accounting for the remainder.
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Can you afford rent in Smithfield on your salary?
At $1,640/mo, how Smithfield rent compares to typical pay (30% rule).
Smithfield rent by bedroom count
Median rent for each apartment size in Smithfield. Click any size for full breakdown.
Tips for renters in Smithfield
Last updated: October 17, 2026
The median rent in Smithfield is $1,640/mo as of October 2026. A studio apartment averages $1,290/mo while a 2-bedroom runs $1,490/mo. One-bedroom apartments average $1,320/mo and 3-bedroom units go for $1,840/mo.
At 45% of local median household income ($43,270/yr), Smithfield ranks as moderate compared to the national benchmark of 30%. Rents have increased 4.7% over the past year.
Frequently asked questions
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Is rent going up or down in Smithfield?
How does Smithfield rent compare to other cities in North Carolina?
At $1,640/mo, rent takes ~45% of Smithfield's median household income ($43,270/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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