Commercial Real Estate Market in Smithfield, VA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
48 active listings and 396 off-market properties in Smithfield, VA.
Market Trends
Smithfield, VA spans 104.1 square miles in Isle of Wight County, Virginia. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Smithfield, VA runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Vacancy Rate % in South region
Retail
Retail vacancy in Smithfield, VA runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Smithfield, VA runs 7.9% across the South region in 2025, up from 6% in 2019. Nearly 2.3x the 2022 low of 3.5%.
Vacancy Rate % in South region
Multifamily
Multifamily vacancy in Smithfield, VA runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Vacancy Rate % in South region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 44.9%
- Agricultural 34.9%
- Commercial 8.8%
- Industrial 5.6%
- Open space 4.4%
- Mixed use 1.5%
Largest Zones share of zoned land by district
Community Conservation
Neighborhood Residential
Suburban Residential
Suburban Residential Cluster
Environmental Conservation
Community Conservation (C-C)
C-C, Community Conservation District Article 3A: 2 Article 3.A: C-C, Community Conservation (Agriculture, Forestry and Conservation District) A. Purpose and Intent: The C-C Community Conservation District is created to provide a vehicle by which agricultural, forestry, open space and other lands of rural character within the Town may be maintained in their c…
Market overview
Demographics & Economy
Smithfield, VA has 18,232 residents in 7,961 households. Density runs 175 people per square mile. Median household income here is $103,580 and median gross rent $1,162 a month.
18,232
Population
7,961
Households
2.3
Avg Household Size
47
Median Age
32%
College-Educated
93%
High-School Grad
104.1 sq mi
ZIP Area
175
Density / Sq Mi
$103,580
Median Household Income
$53,070
Median Earnings
$1,162
Median Rent
$347,700
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Battery Park | — | — |
| Rescue | — | — |
| Carrollton | — | — |
| Isle of Wight | — | — |
Frequently Asked Questions
Where does Realmo's Smithfield market data come from?
Realmo compiles Smithfield, VA figures from 40 active sale listings, 8 active lease listings, 396 tracked off-market properties, the current Smithfield zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 40 active for-sale and 8 active for-lease listings in Smithfield, VA. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 6,647 zoned acres across 17 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at South region level, retail vacancy is reported at South region level and industrial vacancy is reported at South region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
