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ZIP Code · VA

ZIP 23704

Pop. 19,207·Portsmouth City·162nd most expensive ZIP in Virginia
Median rent (all units)
$1,604/mo
Year-over-Year
+7.7%
Month-over-Month
-0.1%
vs US Median
-$361
Stable (Monthly)
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Most AffordableMost Expensive
ZIP 23704 · $1,604
More affordable than 66% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,430
1 BR
$1,450
2 BR
$1,640
3 BR
$2,270
4 BR+
$2,680
Research median
$1,640/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
$19,248/yr
At $1,604/mo median
Location
StateVA
CountyPortsmouth City
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 7.7% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+7.7% YoY, -0.1% MoM), not inventory.
Demographics

Who lives here

ZIP 23704 (Portsmouth, VA) is majority renter-occupied, has a median income below the national average, 24.9% of residents hold a bachelor's degree or higher.

Population
19,207
Median income
$49,583
Median age
35.9
Renters
59.8%
Age distribution
20.3%
28.8%
21.3%
13.7%
15.9%
Under 1820.3%
18–3428.8%
35–5421.3%
55–6413.7%
65+15.9%
Gender
47.2%
52.8%
Male47.2%
Female52.8%
Race & ethnicity
24.8%
65.1%
White24.8%
Black65.1%
Hispanic4.5%
Asian2.2%
Other3.3%
Education (25+)
14.3%
27.7%
33.2%
24.9%
No HS diploma14.3%
HS diploma27.7%
Some college33.2%
Bachelor's+24.9%
Housing tenure
40.2%
59.8%
Owner40.2%
Renter59.8%

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

2021 vs 2026

How ZIP 23704 in Portsmouth, VA has changed in 5 years

Rent
$1,165 → $1,604
up 37.7%
Income
$42,831 → $49,583
up 15.8%
Population
18,344 → 19,207
up 4.7%
Renter share
63.8% → 59.8%
-4.0 pts
Bachelor's+
20.6% → 24.9%
+4.3 pts
Median age
35.3 → 35.9
+0.6 yrs

Since 2021, the typical rent in ZIP 23704 in Portsmouth, VA has increased from $1,165 to $1,604, a 37.7% change over five years. On the earnings side, the typical household in ZIP 23704 in Portsmouth, VA now reports about $49,583, up from $42,831 in 2021. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has grown by 4.7% since 2021, moving from about 18,344 residents to roughly 19,207. Renters now make up 59.8% of households, compared with 63.8% five years ago. College-educated residents now make up 24.9% of adults here, versus 20.6% in 2021. For context, the 2021 to 2026 window covers an unusually volatile run for US rents nationally, and ZIP 23704 in Portsmouth, VA reflects that arc in its own way.

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Local insights

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About renting in ZIP 23704

Last updated: July 20, 2026

ZIP code 23704 covers Portsmouth, VA. The median rent here is $1,604/mo as of July 2026. A 1-bedroom rents for a median of $1,450/mo. A 2-bedroom rents for a median of $1,640/mo.

At 39% of local median household income ($49,583/yr), ZIP 23704 ranks as moderate compared to the national benchmark of 30%. Rents have increased 7.7% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 23704?

As of July 20, 2026, the median monthly rent in ZIP 23704 (Portsmouth, VA) is $1,604. This is based on aggregated data from public sources and community submissions.

How does ZIP 23704 rent compare to the US average?

ZIP 23704's median rent of $1,604/mo is $361 (18%) below the US national median of $1,965/mo.

How does ZIP 23704 compare to other ZIPs in Virginia?

ZIP 23704 is among the more affordable ZIP codes in Virginia, ranking #162 out of 198 ZIPs at $1,604/mo.

How much income do you need to rent in ZIP 23704?

To keep rent at or below 30% of gross income, you would need to earn at least $64,000/year (~$31/hour full-time) to afford the median rent of $1,604/mo in ZIP 23704. The local median household income is $49,583/yr, meaning the typical household falls short of that threshold.

Is rent going up or down in ZIP 23704?

Rent in ZIP 23704 has increased 7.7% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 23704 an affordable place to rent?

ZIP 23704 is considered moderate for renters. At $1,604/mo, rent takes approximately 39% of the local median household income ($49,583/yr). The standard benchmark is 30%. ZIP 23704 slightly exceeds that threshold, so budgeting carefully matters here.

What percentage of ZIP 23704 residents rent vs. own?

According to Census data, approximately 59.8% of ZIP 23704 households are renters, while 40.2% are owner-occupied. With a majority renter population, ZIP 23704 has a strong rental market.

How does ZIP 23704 compare to the rest of Portsmouth?

ZIP 23704 is more affordable than Portsmouth overall. At $1,604/mo, it's $13 below the Portsmouth citywide median of $1,617/mo.

When was rent data for ZIP 23704 last updated?

Rent data for ZIP 23704 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
39%
MODERATE

At $1,604/mo, rent takes ~39% of ZIP 23704's median household income ($49,583/yr). The standard benchmark is 30%.

ZIP 23704 39%Benchmark 30%
State income tax2–5.75%
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Schools nearby

Public schools near ZIP 23704 (Portsmouth, VA)

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