Income needed to buy a home
Smyth County, VA
$52,520
a year in household income to buy the typical Smyth County home with 10% down.
The monthly math
Typical home value$162,193
Down payment (10%)$16,219
Loan$145,974
Principal and interest (7.40%)$1,011/mo
Property tax (0.54% a year)$73/mo
Homeowners insurance (estimate)$81/mo
Mortgage insurance$61/mo
Total monthly cost$1,225/mo
Income needed keeps housing at 28% of gross income, the lender rule of thumb.
What locals earn
Right at the edge
The typical household here earns $49,883 a year, 95% of what it takes.
In Virginia
Smyth County ranks #16 of 133 for the income a home takes, from least to most.
Easiest to afford in Virginia
| County | Typical home | Income needed |
|---|---|---|
| Buchanan County | $80,245 | $25,804 |
| Martinsville City | $110,964 | $36,993 |
| Dickenson County | $117,295 | $37,872 |
| Lee County | $116,546 | $38,022 |
| Covington City | $115,505 | $38,726 |
Typical home value from the Zillow Home Value Index, August 2026. Rate is the Freddie Mac 30-year average for Oct 8, 2026. Property tax rate is total taxes paid divided by total home value in the county (U.S. Census, ACS 2020-2024). How it works.