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Rental market trends in Portsmouth, VA

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Average Rent in Portsmouth, VA

Average Rent in Portsmouth, VA

Avg. RentAnnual Change
Studio - $1,3950%
1 Bed - $1,062+4%
2 Beds - $1,162+16%
Last updated 5/20/2024

Average Apartment Cost in Portsmouth, VA

The average rent for apartments in Portsmouth, VA, is between $1,062 and $1,395 in 2024. For a studio apartment in Portsmouth, VA, the average rent is $1,395. When it comes to 1-bedroom apartments, the average rent in Portsmouth, VA, is $1,062. For a 2-bedroom apartment, the average rent is $1,162.

Apartment Rent Ranges in Portsmouth, VA

Apartment PricesProportion
0%
13%
45%
28%
15%

Neighborhood Apartment Rent Trends in Portsmouth, VA

Neighborhood1 Bed Avg RentAnnual Change
Olde Towne$1,224+2%
Downtown Portsmouth$1,100-18%
Park View$1,100+7%
Brighton$1,100--
Hodges Manor$1,042+5%
Prentis Park$925--
Uptown$895--
Port Norfolk$875-5%
Westhaven$850+6%
Cradock$775-9%
Neighborhood2 Beds Avg RentAnnual Change
Downtown Portsmouth$1,649+1%
Brighton$1,350--
Olde Towne$1,325-22%
Westhaven$1,295--
Port Norfolk$1,200+9%
Hodges Manor$1,200+3%
Cradock$1,150+21%
Park View$1,125-20%
Uptown$1,075--
Prentis Park$1,000--
Waterview$925+3%
Southside$900--

How Other Cities Compare to Portsmouth, VA

CityStudio Avg RentAnnual Change
Virginia Beach$1,807+28%
Chesapeake$1,7090%
Hampton$1,700+26%
Norfolk$1,530+4%
Newport News$1,499+51%
Williamsburg$1,205-2%
City1 Bed Avg RentAnnual Change
Williamsburg$1,740+34%
Carrollton$1,579+12%
Hampton$1,575+6%
Virginia Beach$1,517+6%
Yorktown$1,515+5%
Chesapeake$1,327+4%
Norfolk$1,322+5%
Newport News$1,225+1%
Suffolk$1,050-26%
Elizabeth City$950--
Gloucester$775--
Franklin$7350%
City2 Beds Avg RentAnnual Change
Suffolk$1,854+8%
Williamsburg$1,842+35%
Carrollton$1,729+7%
Virginia Beach$1,699+9%
Yorktown$1,603+24%
Hampton$1,491+15%
Newport News$1,487+1%
Chesapeake$1,462-4%
Smithfield$1,450--
Franklin$1,350--
Norfolk$1,347+2%
Elizabeth City$1,313--
Gloucester$1,100+29%

Portsmouth, VA Rent Trends

Studio1 Bed2 Beds
May 2023Jun 2023Jul 2023Aug 2023Sep 2023Oct 2023Nov 2023Dec 2023Jan 2024Feb 2024Mar 2024Apr 2024May 2024
$1395$1395$1395$1395$1395$1395$1395$1395$1395$1395$1395$1395$1395
$1040$1002$1040$1039$1002$1039$1052$995$950$1092$1092$1017$1050
$1112$1200$1112$1150$1150$1200$1200$1200$1200$1200$1152$1175$1212
$1350$1302$1302$1350$1350$1342$1300$1350$1350$1350$1365$1272$1295

Neighborhood Information for Portsmouth, VA

What are the most affordable neighborhoods in Portsmouth, VA?

The most affordable neighborhoods in Portsmouth are Cradock, where the average 1-bedroom apartment rent goes for $775, Westhaven, where renters pay $850 on average for a 1-bedroom apartment, and Port Norfolk, where the average 1-bedroom apartment rent goes for $875. If you're looking for other great deals, check out the listings in Uptown ($895 for a 1-bedroom apartment) or Prentis Park ($925 for a 1-bedroom apartment), compared to the $1,062 average for a Portsmouth 1-bedroom apartment.

What are the most expensive neighborhoods in Portsmouth, VA?

The most affordable neighborhoods in Portsmouth are Olde Towne, where the average 1-bedroom apartment rent goes for $1,224, Downtown Portsmouth, where renters pay $1,100 on average for a 1-bedroom apartment, and Park View, where the average 1-bedroom apartment rent goes for $1,100. If you're looking for other great deals, check out the listings in Brighton ($1,100 for a 1-bedroom apartment) or Hodges Manor ($1,042 for a 1-bedroom apartment), compared to the $1,062 average for a Portsmouth 1-bedroom apartment.

What are the most popular neighborhoods in Portsmouth, VA?

The most popular neighborhoods in Portsmouth are Downtown Portsmouth, where the average 1-bedroom apartment rent goes for $1,100, Olde Towne, where renters pay $1,224 on average for a 1-bedroom apartment, and Park View, where the average 1-bedroom apartment rent goes for $1,100. If you're looking for other popular neighborhoods, check out the listings in Port Norfolk ($875 for a 1-bedroom apartment) or Uptown ($895 for a 1-bedroom apartment), compared to the $1,062 average for a Portsmouth 1-bedroom apartment.

Nearby Listings

  • Lofts at Front Street property

    $1,800+

    Lofts at Front Street

    1–2 Beds • 1–2 Baths

    713–1062 Sqft

    2 Units Available

  • Harbor Vista at Crawford Street property

    $1,739+

    Harbor Vista at Crawford Street

    1–2 Beds • 1–2 Baths

    825–1106 Sqft

    Available 6/13

  • Manor View property

    $770+

    Manor View

    1–3 Beds • 1–1.5 Baths

    760–1140 Sqft

    Upcoming Availability

  • Churchland Square property

    $1,205+

    Churchland Square

    2–3 Beds • 1 Bath

    950 Sqft

    3 Units Available

  • Hodges Manor property

    $1,080+

    Hodges Manor

    1–3 Beds • 1–1.5 Baths

    750–1140 Sqft

    Upcoming Availability

  • Edgefield property

    $1,246+

    Edgefield

    1–3 Beds • 1–2 Baths

    750–1150 Sqft

    1 Unit Available