Smyth County, Virginia Housing Market
In Smyth County, Virginia, the median home value is $139,600, with a median monthly rent of $731. This places Smyth County at #2379 nationally out of 3134 counties by median home value, and #121 within Virginia.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $954
- Establishments: 713
- BLS QCEW, 2025
Housing Supply
- Single-family: 12
- Multi-family: 0
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 10,827 (avg $53,847)
- Outflow: 10,332 (avg $54,042)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 2 active ZIP codes in Smyth County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 24319 | 212.1 | — | 2025 |
| 2 | 24354 | 242.8 | +5.44% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Smyth County Compares
| Metric | Smyth County | Virginia Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $139,600 | $295,807 | $227,706 |
| Median Gross Rent | $731 | $1,169 | $968 |
| Owner Occupancy Rate | 71.0% | 70.8% | 73.3% |
| Price/Rent Ratio | 15.9 | 20.3 | 18.7 |
Market Analysis
The median home value in Smyth County is 52.8% below the Virginia state average and 38.7% below the U.S. national average. The median rent of $731/month is 37.5% below the state average.
With a price-to-rent ratio of 15.9, the buy-vs-rent decision in Smyth County is balanced. Whether buying or renting makes more sense depends on your time horizon, down payment capacity, and local market conditions.
Smyth County has an owner-occupancy rate of 71.0%, compared to 70.8% in Virginia and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Woods County | Oklahoma | $139,600 | $850 |
| Jones County | South Dakota | $139,600 | $543 |
| Decatur County | Tennessee | $139,600 | $757 |
| Cheyenne County | Nebraska | $139,700 | $821 |
| Nelson County | North Dakota | $139,700 | $582 |
Other Counties in Virginia
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Galax city | $141,300 | $743 | 56.3% |
| Brunswick County | $142,700 | $834 | 74.4% |
| Scott County | $143,000 | $699 | 77.0% |
| Charlotte County | $144,100 | $732 | 74.7% |
| Henry County | $134,800 | $728 | 75.2% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).