ZIP Code · VA

ZIP 23707

Part of Portsmouth, VA

Pop. 14,766·Portsmouth City·167th most expensive ZIP in Virginia

Median rent (all units)

$1,511/mo

Year-over-Year

Stable

Month-over-Month

-0.8%

vs US Median

-$421

Reported rents

Falling (Monthly)

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ZIP 23707 · $1,511

More affordable than 72% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,220

1 BR

$1,240

2 BR

$1,400

3 BR

$1,940

4 BR+

$2,290

Research median

$1,400/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: October 17, 2026

From the history

What the numbers show

What a typical income covers

30% of the median household income ($48,926) is $1,223 a month. That covers HUD's Fair Market Rent for up to a studio ($1,220); a 1-bedroom is $1,240.

Rank in Portsmouth

1st cheapest of 5 ZIP codes in Portsmouth.

From Zillow's monthly rent index (ZORI) for ZIP 23707. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$18,132/yr

At $1,511/mo median

Location

CityPortsmouth

StateVA

CountyPortsmouth City

Rent Market Meter

Balanced Market

Renter's MarketBalancedLandlord's Market

Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.

Based on rent-price momentum (+0.0% YoY, -0.8% MoM), not inventory.

Demographics

Who lives here

ZIP 23707 (Portsmouth, VA) is majority owner-occupied, has a large share of families with children, has a median income below the national average, 25.6% of residents hold a bachelor's degree or higher.

Population

14,766

Median income

$48,926

Median age

37.5

Renters

44%

Age distribution

25.3%

21.9%

26%

16.6%

Under 1825.3%

18–3421.9%

35–5426%

55–6410.3%

65+16.6%

Gender

42.8%

57.2%

Male42.8%

Female57.2%

Race & ethnicity

40.6%

41.9%

White40.6%

Black41.9%

Hispanic3%

Asian3.1%

Other11.3%

Education (25+)

14.1%

29.9%

30.4%

25.6%

No HS diploma14.1%

HS diploma29.9%

Some college30.4%

Bachelor's+25.6%

Housing tenure

56%

44%

Owner56%

Renter44%

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

2021 vs 2026

How ZIP 23707 in Portsmouth, VA has changed in 5 years

Income

$46,980 → $48,926

up 4.1%

Population

14,038 → 14,766

up 5.2%

Renter share

44.5% → 44%

-0.5 pts

Bachelor's+

21.4% → 25.6%

+4.2 pts

Median age

38.3 → 37.5

-0.8 yrs

Census figures show median household income at $48,926 today, compared with $46,980 five years earlier. The population has grown by 5.2% since 2021, moving from about 14,038 residents to roughly 14,766. College-educated residents now make up 25.6% of adults here, versus 21.4% in 2021.

Community

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Local insights

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About renting in ZIP 23707

Last updated: October 17, 2026

ZIP code 23707 covers Portsmouth, VA. The median rent here is $1,511/mo as of October 2026. A 1-bedroom rents for a median of $1,240/mo. A 2-bedroom rents for a median of $1,400/mo.

At 37% of local median household income ($48,926/yr), ZIP 23707 ranks as moderate compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 23707?

To keep rent at or below 30% of gross income, you would need to earn at least $60,000/year (about $29/hour full-time) to afford the median rent of $1,511/mo in ZIP 23707. The local median household income is $48,926/yr, so the typical household falls short of that bar.