Smithfield, VA, features a cost of living index that is slightly below the nationwide average. Specifically, the overall cost of living index for Smithfield is 92, which is 8% lower than the national average of 100. This indicates that residents of Smithfield generally experience lower expenses in housing, utilities, and miscellaneous costs compared to the average American.
The cost of living categories in Smithfield reveal some areas where expenses are lower and others that are comparable. Housing in Smithfield stands at 85, meaning it is 15% cheaper than the national average. In contrast, groceries and transportation, at 95 each, are only 5% below the national average. Utilities and healthcare are also close to average levels, with utilities at 90 and healthcare precisely at 100. Overall, these figures suggest that Smithfield offers a balanced living situation with some savings in certain areas.
The cost of living in Smithfield, VA, offers some advantages compared to the nationwide average, which is set at 100. Housing costs in Smithfield are 15% lower than the national average, with an index of 85. This reduction can help individuals and families stretch their housing budgets further. While grocery costs stand at 95, they are only 5% below the national average. This means that buying food and other household essentials is slightly less expensive than in many other parts of the country.
Utilities in Smithfield cost 10% less than the national average, with an index of 90. This can lead to lower monthly bills, providing some financial relief. Transportation costs are also 5% lower, with an index of 95, making commuting and other travel expenses more affordable. Healthcare costs in Smithfield are equal to the national average at 100, ensuring that medical care remains competitively priced. Miscellaneous expenses, such as entertainment and personal care, are at 92, which is 8% below the national average. These lower costs make Smithfield an attractive option for those looking to manage their expenses effectively.
