Cost of Living in Portsmouth city, Virginia
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Portsmouth city Compares
Median monthly rent comparison
Detailed Housing Stats
Data Story
About Cost of Living in Portsmouth city, Virginia
Portsmouth rents strain household budgets
Portsmouth residents spend 25.8% of their income on rent, well above the national sweet spot of roughly 20–25%. This ratio—among the highest in Virginia—reflects a fundamental mismatch: median household income here is $58,972, nearly $16,000 below the national median of $74,755, while median rent sits at $1,266 per month.
One of Virginia's least affordable cities
Portsmouth's rent-to-income ratio of 25.8% far exceeds Virginia's state average of 18.6%, placing it among the state's least affordable communities. The median rent of $1,266 also runs $126 above the state average, compounding pressure on renters here.
Pricier than Prince Edward County
Portsmouth renters pay $1,266 monthly compared to $898 in nearby Prince Edward County—a difference of $368 per month or 41% higher costs. Despite being across the region, Prince Edward's lower rent-to-income ratio (19.6% vs 25.8%) makes it significantly more accessible for renters with modest incomes.
Housing dominates the household budget
Renters in Portsmouth spend $1,266 monthly on gross rent, while homeowners face $1,378 in monthly owner costs on a median home value of $229,400. With median household income at $58,972 annually ($4,914 monthly), housing alone consumes a quarter or more of what most households earn.
Considering Portsmouth? Compare carefully.
If affordability matters in your relocation decision, Portsmouth's 25.8% rent-to-income ratio signals tighter budgets than state averages. Explore nearby alternatives like Prince Edward or Pulaski counties, where rent-to-income ratios dip below 20%, before committing to the move.
Affordability Calculator
See how your income compares to housing costs in Portsmouth city
Rent Burden
25.8%
of gross income
Max Housing (28% Rule)
$1,376
per month
Owner Cost Burden
28.0%
of gross income
The median home in Portsmouth city may be a stretch
Median home value is $229,400. Estimated monthly cost: $1,831 vs. your max of $1,376.
Rent Affordability Guide
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.