Key Economic Benchmarks
Median Household Income
$66,293$5,524 per month · U.S. Census Bureau ACS 5-YearFair market rent & 30% rule in Smith County, TN
Official HUD Fair Market Rents evaluated against local household income benchmarks.
2026 HUD Fair Market Rent Schedule: Smith County, TN
Official FY2026 HUD Fair Market Rents for Smith County, TN HUD Metro FMR Area. Under the federal 30% housing affordability standard, housing costs are sustainable when they consume 30% or less of gross household income.
| Unit Size | Monthly Rent | Annual Rent | 30% Rule Min. Income | % of Median Income |
|---|---|---|---|---|
| Studio / Efficiency | $796 | $9,552 | $31,840 | 14.4% |
| 1-Bedroom Apartment | $801 | $9,612 | $32,040 | 14.5% |
| 2-Bedroom ApartmentBenchmark | $1,051 | $12,612 | $42,040 | 19% |
| 3-Bedroom Home | $1,368 | $16,416 | $54,720 | 24.8% |
| 4-Bedroom Home | $1,392 | $16,704 | $55,680 | 25.2% |
50/30/20 Living Budget in Smith County, TN
Based on the local median household income of $66,293/year ($5,524/month), here is how a balanced budget allocates expenses:
Take-Home Pay & Tax Explorer in Tennessee
Explore net income after federal income tax, FICA, and Tennessee state income tax based on the local median baseline.
Related Regional & Financial Profiles
Compare earnings and living costs across Tennessee with official federal datasets:
Frequently Asked Questions About Living in Smith County, TN
What is the median household income in Smith County, TN?
According to the latest U.S. Census Bureau ACS 5-Year survey, the median household income in Smith County, TN is $66,293 per year (approximately $5,524 per month).
What is the average rent in Smith County, TN?
According to HUD Fair Market Rent (FMR) benchmarks for 2026, standard monthly rents in Smith County, TN are $796 for a studio, $801 for 1 bedroom, $1,051 for 2 bedrooms, $1,368 for 3 bedrooms, and $1,392 for 4 bedrooms.
How does the cost of living in Smith County, TN compare to the national average?
Based on the Bureau of Economic Analysis (BEA) Regional Price Parity index, the general price level in Smith County, TN is 96.3 (3.7% lower than the U.S. national baseline of 100.0).
How much do you need to earn to comfortably afford rent in Smith County, TN?
Under the standard 30% housing affordability standard, renting a median 2-bedroom home ($1,051/month) in Smith County, TN requires a minimum gross household income of $42,040 per year ($3,503 per month).
What is a balanced 50/30/20 monthly budget in Smith County, TN?
For a typical household earning the median income of $66,293/year ($5,524/month) in Smith County, TN, a balanced 50/30/20 budget allocates $2,762/month to essential needs (rent, utilities, groceries), $1,657/month to discretionary spending, and $1,105/month to savings and debt repayment.
What are typical electricity and utility costs in Smith County, TN?
Residential electricity rates in Tennessee average 14.1¢ per kWh according to the U.S. Energy Information Administration (EIA). For an average home using 900 kWh per month, the estimated electric bill is approximately $127 per month.