Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Portsmouth area can be challenging. Home prices in Portsmouth are now at a median cost of $186,817, lower than the Virginia average of $323,261.
The average cost of rent is $1,244/mo in Portsmouth, primarily driven by the current value of real estate in the Portsmouth area. While nearly 32.12% of residents own their homes outright in Portsmouth, 42.18% rent.
Housing affordability isn’t just about home prices, though. The average household income in Portsmouth is $4,860 per month. Households that rent pay about 25.59% of their income on rent here. Portsmouth's most expensive areas are in the northwestern regions, while the cheapest areas are in the southeastern parts of the city.
Nearby Cities
- Chesapeake, VA: higher priced homes
- Norfolk, VA: higher priced homes
- Suffolk, VA: higher priced homes
- Carrollton, VA: higher priced homes
- Virginia Beach, VA: higher priced homes
- Longview, VA: higher priced homes
- Everets, VA: higher priced homes
- Smithfield, VA: higher priced homes
- Isle of Wight, VA: higher priced homes
- Orbit, VA: less expensive homes
Cities with Similar Populations
- Sunrise, FL: higher priced homes
- Suffolk, VA: higher priced homes
- Sunrise Manor, NV: equally priced homes
- Sunnyvale, CA: higher priced homes
- Salisbury, NC: less expensive homes
- Salem, OR: higher priced homes
- San Francisco, CA: higher priced homes
- Santa Maria, CA: higher priced homes
- Slidell, LA: higher priced homes
- Santa Monica, CA: higher priced homes
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