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
National Ranking
Affordability Rank
Portsmouth city ranks #3,108 of 3,144 counties for affordability (bottom 1%)
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.
Cost of Living Advisory: Portsmouth city
Affordability Verdict
Portsmouth city is moderately affordable for renters, with a median gross rent of $1,266/month representing approximately 25.8% of median household income. The rent burden (GRAPI) stands at 34.0%.
Rent vs. Own
The median rent in Portsmouth city is $1,266/month, while owner costs run $1,378/month. Renting saves approximately $112/month.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $50,640/year. For owner costs at the 28% rule, the required income is roughly $59,057/year. With a median household income of $58,972, most households can comfortably afford rent here. Notably, 34.0% of renter households in Portsmouth city are cost-burdened, spending more than 30% of income on housing.
Regional Context
Portsmouth city sits 5% more expensive than Louisa County ($1,208/month) in terms of median gross rent.
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
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
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.
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