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ZIP Code · VA

ZIP 23702

Pop. 12,485·Portsmouth City·168th most expensive ZIP in Virginia
Median rent (all units)
$1,576/mo
Year-over-Year
+8.8%
Month-over-Month
-8.2%
vs US Median
-$389
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 23702 · $1,576
More affordable than 68% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,290
1 BR
$1,310
2 BR
$1,480
3 BR
$2,050
4 BR+
$2,420
Research median
$1,480/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
$18,912/yr
At $1,576/mo median
Location
StateVA
CountyPortsmouth City
Rent Market Meter
Strong Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are down 8.8% year-over-year. Push hard on price, concessions, and lease terms.
Based on rent-price momentum (+8.8% YoY, -8.2% MoM), not inventory.
Demographics

Who lives here

ZIP 23702 (Portsmouth, VA) is roughly split between renters and owners, skews toward younger working-age adults, has a median income below the national average, 11% of residents hold a bachelor's degree or higher.

Population
12,485
Median income
$48,835
Median age
30.9
Renters
53.8%
Age distribution
26%
30.9%
22.7%
Under 1826%
18–3430.9%
35–5422.7%
55–6411.3%
65+9%
Gender
50.2%
49.8%
Male50.2%
Female49.8%
Race & ethnicity
35.8%
51.1%
White35.8%
Black51.1%
Hispanic7.6%
Asian0.9%
Other4.7%
Education (25+)
46%
34%
No HS diploma9%
HS diploma46%
Some college34%
Bachelor's+11%
Housing tenure
46.2%
53.8%
Owner46.2%
Renter53.8%

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

2021 vs 2026

How ZIP 23702 in Portsmouth, VA has changed in 5 years

Income
$44,619 → $48,835
up 9.4%
Population
12,220 → 12,485
up 2.2%
Renter share
55% → 53.8%
-1.2 pts
Bachelor's+
9.4% → 11%
+1.6 pts

Median household income rose from $44,619 to $48,835 between 2021 and 2024, a 9.4% shift. The population has grown by 2.2% since 2021, moving from about 12,220 residents to roughly 12,485.

Community

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Local insights

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About renting in ZIP 23702

Last updated: July 20, 2026

ZIP code 23702 covers Portsmouth, VA. The median rent here is $1,576/mo as of July 2026. A 1-bedroom rents for a median of $1,310/mo. A 2-bedroom rents for a median of $1,480/mo.

At 39% of local median household income ($48,835/yr), ZIP 23702 ranks as moderate compared to the national benchmark of 30%. Rents have increased 8.8% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 23702?

As of July 20, 2026, the median monthly rent in ZIP 23702 (Portsmouth, VA) is $1,576. This is based on aggregated data from public sources and community submissions.

How does ZIP 23702 rent compare to the US average?

ZIP 23702's median rent of $1,576/mo is $389 (20%) below the US national median of $1,965/mo.

How does ZIP 23702 compare to other ZIPs in Virginia?

ZIP 23702 is among the more affordable ZIP codes in Virginia, ranking #168 out of 198 ZIPs at $1,576/mo.

How much income do you need to rent in ZIP 23702?

To keep rent at or below 30% of gross income, you would need to earn at least $63,000/year (~$30/hour full-time) to afford the median rent of $1,576/mo in ZIP 23702. The local median household income is $48,835/yr, meaning the typical household falls short of that threshold.

Is rent going up or down in ZIP 23702?

Rent in ZIP 23702 has increased 8.8% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 23702 an affordable place to rent?

ZIP 23702 is considered moderate for renters. At $1,576/mo, rent takes approximately 39% of the local median household income ($48,835/yr). The standard benchmark is 30%. ZIP 23702 slightly exceeds that threshold, so budgeting carefully matters here.

What percentage of ZIP 23702 residents rent vs. own?

According to Census data, approximately 53.8% of ZIP 23702 households are renters, while 46.2% are owner-occupied. With a majority renter population, ZIP 23702 has a strong rental market.

How does ZIP 23702 compare to the rest of Portsmouth?

ZIP 23702 is more affordable than Portsmouth overall. At $1,576/mo, it's $41 below the Portsmouth citywide median of $1,617/mo.

When was rent data for ZIP 23702 last updated?

Rent data for ZIP 23702 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
39%
MODERATE

At $1,576/mo, rent takes ~39% of ZIP 23702's median household income ($48,835/yr). The standard benchmark is 30%.

ZIP 23702 39%Benchmark 30%
State income tax2–5.75%
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Schools nearby

Public schools near ZIP 23702 (Portsmouth, VA)

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