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City Report · VA

Portsmouth

Pop. 97,190·66th most expensive in Virginia·Portsmouth rents are up 6.6% over the past year
Median rent (all units)
$1,617/mo
Year-over-Year
+6.6%
Month-over-Month
-0.9%
vs US Median
-$348
Falling (Monthly)
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Most AffordableMost Expensive
Portsmouth · $1,617
More affordable than 68% of US cities · National median $1,965/mo
Rent Reality Score
48/100
Fairly priced
OverheatedFairGreat value

Rents are right about where Portsmouth's 10-year trend predicts.

Actual rent
$1,617/mo
Expected by trend
$1,599/mo
The Rent Reality Score compares today's median rent to where Portsmouth's own long-run trajectory projects it should be. See the full rankings →
Medians by bedroom

Rent by unit size

Studio
$1,328
1 BR
$1,336
2 BR
$1,528
3 BR
$2,128
4 BR+
$2,532
Research median
$1,528/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$19,404/yr
At $1,617/mo median
Rent Market Meter
Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are climbing (6.6% YoY), so leverage tilts toward landlords. Act sooner rather than later.
Based on rent-price momentum (+6.6% YoY, -0.9% MoM), not inventory.
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Demographics

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.

Population
97,190
Median income
$60,491
Median age
35.9
Renters
42.1%
Age distribution
23%
25.6%
23.8%
12.1%
15.5%
Under 1823%
18–3425.6%
35–5423.8%
55–6412.1%
65+15.5%
Gender
47.9%
52.1%
Male47.9%
Female52.1%
Race & ethnicity
36.2%
50.6%
White36.2%
Black50.6%
Hispanic5.4%
Asian1.7%
Other6.1%
Education (25+)
30.9%
33.8%
24.3%
No HS diploma11%
HS diploma30.9%
Some college33.8%
Bachelor's+24.3%
Housing tenure
57.9%
42.1%
Owner57.9%
Renter42.1%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Portsmouth, VA has changed in 5 years

Rent
$1,158 → $1,617
up 39.6%
Income
$54,020 → $60,491
up 12.0%
Population
97,454 → 97,190
down 0.3%
Renter share
44.3% → 42.1%
-2.2 pts
Bachelor's+
21% → 24.3%
+3.3 pts

Compared with 2021, rent in Portsmouth, VA has increased by $459 per month, settling near $1,617 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 27.6 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.

Community

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View Portsmouth rent history (2015–2026) →
Salary vs rent

Can you afford rent in Portsmouth on your salary?

At $1,617/mo, how Portsmouth rent compares to typical pay (30% rule).

By apartment size

Portsmouth rent by bedroom count

Median rent for each apartment size in Portsmouth. Click any size for full breakdown.

Local insights

Tips for renters in Portsmouth

About renting in Portsmouth, VA

Last updated: July 20, 2026

The median rent in Portsmouth is $1,617/mo as of July 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 6.6% over the past year.

FAQ

Frequently asked questions

Is Portsmouth an affordable city for renters?

Portsmouth is considered moderate for renters. At $1,617/mo, rent takes approximately 32% of the local median household income ($60,491/yr). The standard benchmark is 30%. Portsmouth slightly exceeds that threshold, so budgeting carefully matters here.

How much income do you need to rent in Portsmouth?

To keep rent at or below 30% of gross income, you would need to earn at least $65,000/year (~$31/hour full-time) to afford the median rent of $1,617/mo in Portsmouth. The local median household income is $60,491/yr, meaning the typical Portsmouth household falls short of that threshold.

Is rent going up or down in Portsmouth?

Rent in Portsmouth has increased 6.6% over the past year as of July 2026, putting upward pressure on renter budgets.

Which Portsmouth neighborhoods have the lowest rent?

The most affordable ZIP codes in Portsmouth are 23707 ($1,467/mo), 23702 ($1,576/mo), and 23704 ($1,604/mo). Citywide, the median rent in Portsmouth is $1,617/mo.

How does Portsmouth rent compare to other cities in Virginia?

Portsmouth is one of the more affordable cities in Virginia for rent, ranking #66 out of 83 tracked cities at $1,617/mo.

What percentage of Portsmouth residents rent vs. own?

According to Census data, approximately 42.1% of Portsmouth households are renters, while 57.9% are owner-occupied. Portsmouth leans toward homeownership, which can mean a smaller rental inventory.

How does Portsmouth rent compare to the national average?

Portsmouth's median rent of $1,617/mo is $348 (18%) below the US national median of $1,965/mo. Within Virginia, it ranks #66 out of 83 tracked cities.
Income Affordability
32%
MODERATE

At $1,617/mo, rent takes ~32% of Portsmouth's median household income ($60,491/yr). The standard benchmark is 30%.

Portsmouth 32%Benchmark 30%
State income tax2–5.75%
Run the Portsmouth affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Portsmouth, VA

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