Smithtown, NY

Very High · 173

New York · Population 24,940 · Updated March 2026

$1,851
Median Rent / Month
$148,852
Median Income
$661,400
Median Home Value
$2,717
Owner Costs / Month

Affordability

How far your income goes in Smithtown

14.9%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in New York

State-level tax rates that affect your costs

10.9%
Income Tax (Top Rate)
4.0%
Sales Tax
1.62%
Property Tax Rate

Estimated Annual Costs

$22,212
Annual Rent
$16,225
State Income Tax
$10,715
Property Tax (est.)

Cost of Living Overview

Smithtown has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 173 (where 100 equals the national median), Smithtown residents can expect to pay median rent of $1,851/month while earning a median household income of $148,852/year.

The median home value in Smithtown, NY is $661,400, with typical monthly owner costs around $2,717 including mortgage, insurance, and taxes. The median rent-to-income ratio of 14.9% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

New York's top income tax rate of 10.9% is among the highest in the nation, adding to the overall cost burden. Combined with a 4.0% sales tax rate and 1.62% effective property tax rate, the overall tax environment is a factor in the total cost of living in Smithtown.

Frequently Asked Questions

Common questions about living costs in Smithtown

What is the cost of living in Smithtown, NY?
The cost of living index in Smithtown, NY is 173 (US average = 100). Median monthly rent is $1,851, median household income is $148,852/year, and the median home value is $661,400.
Is Smithtown, NY affordable?
No, Smithtown is more expensive than the national average with a cost index of 173. The rent-to-income ratio is 14.9%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Smithtown, NY?
The median gross rent in Smithtown, NY is $1,851 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $22,212.
What is the median household income in Smithtown?
The median household income in Smithtown, NY is $148,852 per year. This compares to the national median of approximately $80,000.
What are the taxes like in New York?
New York has a top income tax rate of 10.9%, a sales tax of 4.0%, and an effective property tax rate of 1.62%.