Rents are right about where Portsmouth's 10-year trend predicts.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,599 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: August 17, 2026
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Who lives here
Portsmouth, VA is majority owner-occupied, has a median income below the national average, 24.3% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Portsmouth, VA has changed in 5 years
Compared with 2021, rent in Portsmouth, VA has increased by $441 per month, settling near $1,599 after starting the period at $1,158. Census figures show median household income at $60,491 today, compared with $54,020 five years earlier. Rent outpaced income growth by roughly 26.1 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. About 42.1% of households rent today, against 44.3% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 21% to 24.3%. The combined trend lines point to a market that has changed measurably from where it stood in early 2021.
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Can you afford rent in Portsmouth on your salary?
At $1,599/mo, how Portsmouth rent compares to typical pay (30% rule).
Portsmouth rent by bedroom count
Median rent for each apartment size in Portsmouth. Click any size for full breakdown.
Tips for renters in Portsmouth
Last updated: August 17, 2026
The median rent in Portsmouth is $1,599/mo as of August 2026. A studio apartment averages $1,328/mo while a 2-bedroom runs $1,528/mo. One-bedroom apartments average $1,336/mo and 3-bedroom units go for $2,128/mo.
At 32% of local median household income ($60,491/yr), Portsmouth ranks as moderate compared to the national benchmark of 30%. Rents have increased 5.5% over the past year.
Frequently asked questions
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What percentage of Portsmouth residents rent vs. own?
How does Portsmouth rent compare to the national average?
At $1,599/mo, rent takes ~32% of Portsmouth's median household income ($60,491/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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