According to 2010 U.S. Census data, near ly 12,000 people declare homes in Smith Mountain Lake waterfront neighborhoods as their principal residence. lake fact Smith Mountain Lake o ers a broad array of real estate options on and o water for singles, couples and families looking for a primary residence or acation home. Sin gle family homes, townhouses, condominiums and building lots are all a ailable in a wide range of prices. SMITH MOUNTAIN LAKE - CELEBRATING 50 YEARS | 85