ZIP Code · VA

ZIP 23701

Part of Portsmouth, VA

Pop. 24,298·Portsmouth City·120th most expensive ZIP in Virginia

Median rent (all units)

$1,848/mo

Year-over-Year

+3.8%

Month-over-Month

-0.3%

vs US Median

-$84

Reported rents

Stable (Monthly)

Be the first to discuss 23701 rents ↓

Most AffordableMost Expensive

ZIP 23701 · $1,848

More expensive than 52% of US ZIP codes · National median $1,932/mo

Rent check

Is your rent fair?

Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,380

1 BR

$1,390

2 BR

$1,580

3 BR

$2,190

4 BR+

$2,580

Research median

$1,580/mo

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

Rent trends

12-month history

Loading…

Last updated: October 17, 2026

From the history

What the numbers show

Past year vs. the rest of Virginia

Rent in ZIP 23701 changed +3.8% over the year to September 2026. Across the 169 Virginia ZIP codes Zillow tracks, the typical change was +3.4%.

Recent direction

Rent has fallen 2 months in a row, and rose in 8 of the last 12 months.

What a typical income covers

30% of the median household income ($62,349) is $1,559 a month. That covers HUD's Fair Market Rent for up to a 1-bedroom ($1,390); a 2-bedroom is $1,580.

Rank in Portsmouth

4th cheapest of 5 ZIP codes in Portsmouth.

Cheaper nearby

ZIP 23702, 3 miles away, rents for 14% less ($1,597/mo), about $3,000 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 23701. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$22,176/yr

At $1,848/mo median

Location

CityPortsmouth

StateVA

CountyPortsmouth City

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (3.8% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+3.8% YoY, -0.3% MoM), not inventory.

Demographics

Who lives here

ZIP 23701 (Portsmouth, VA) is majority owner-occupied, has a median income below the national average, 21.5% of residents hold a bachelor's degree or higher.

Population

24,298

Median income

$62,349

Median age

38.9

Renters

31%

Age distribution

21.3%

25.1%

12.9%

19.3%

Under 1821.3%

18–3421.3%

35–5425.1%

55–6412.9%

65+19.3%

Gender

49.1%

50.9%

Male49.1%

Female50.9%

Race & ethnicity

34.9%

55%

White34.9%

Black55%

Hispanic4.2%

Other5.7%

Education (25+)

33.8%

34.9%

21.5%

No HS diploma9.9%

HS diploma33.8%

Some college34.9%

Bachelor's+21.5%

Housing tenure

69%

31%

Owner69%

Renter31%

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

2021 vs 2026

How ZIP 23701 in Portsmouth, VA has changed in 5 years

Income

$57,082 → $62,349

up 9.2%

Population

25,021 → 24,298

down 2.9%

Renter share

35.1% → 31%

-4.1 pts

Bachelor's+

18.9% → 21.5%

+2.6 pts

Median age

37.5 → 38.9

+1.4 yrs

Census figures show median household income at $62,349 today, compared with $57,082 five years earlier. Headcount in the area went from 25,021 to 24,298 between 2021 and 2024, a 2.9% change. About 31% of households rent today, against 35.1% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 18.9% to 21.5%.

Community

Discussions about ZIP 23701

No discussions yet. Start the conversation.

Local insights

Tips for renters in ZIP 23701

About renting in ZIP 23701

Last updated: October 17, 2026

ZIP code 23701 covers Portsmouth, VA. The median rent here is $1,848/mo as of October 2026. A 1-bedroom rents for a median of $1,390/mo. A 2-bedroom rents for a median of $1,580/mo.

At 36% of local median household income ($62,349/yr), ZIP 23701 ranks as moderate compared to the national benchmark of 30%. Rents have increased 3.8% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 23701?

To keep rent at or below 30% of gross income, you would need to earn at least $74,000/year (about $36/hour full-time) to afford the median rent of $1,848/mo in ZIP 23701. The local median household income is $62,349/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 23701?

Rent in ZIP 23701 has risen 3.8% over the past year.

How does ZIP 23701 compare to other ZIPs in Virginia?

ZIP 23701 is in the middle among Virginia ZIP codes for rent, ranking #120 of 194 at $1,848/mo. Over the year to September 2026, rent in ZIP 23701 changed +3.8%, against a typical +3.4% across the 169 Virginia ZIP codes Zillow tracks.