Last updated August 24, 2026

Average Rent in Portsmouth, VA & Rent Trends

Rent prices and market trends across 10 apartment communities in Portsmouth, VA. Updated daily.

Area All Areas Downtown Ghent

Portsmouth 23704

Beds All Bedrooms Studio 1 Bed 2 Bed 3 Bed

Market Average

$1,983/mo

▲ +3.8% from last month

Lowest Available

$1,175/mo

cheapest unit on market

Communities

tracked daily

Units Listed

available now

Price Cuts This Week in Portsmouth, VA

4 listed units across 1 building in Portsmouth, VA dropped their asking rent in the past 7 days, an average cut of $475/mo. These are the largest cuts, tracked unit by unit with daily price checks.

Apartment	Unit	Last Week	Now	Cut
Lofts at Front Street	Unit 12	$3,150	$1,825	$1,325
Lofts at Front Street	Unit 6	$3,050	$2,675	$375
Lofts at Front Street	Unit 11	$3,150	$3,050	$100
Lofts at Front Street	Unit 9	$2,550	$2,450	$100

See today's prices on all 53 listed units

Rent by Neighborhood in Portsmouth, VA

Compare average rent across Portsmouth, VA neighborhoods. Click any area to see detailed trends.

Neighborhood	Avg Rent	30d Change	From	Properties	Units
Ghent	$2,459	▼ $1	$1,780	1	15
Downtown	$2,128	▲ $69	$1,590	2	4
Portsmouth 23704	$1,757	▲ $90	$1,175	7	34

Is Rent Going Up or Down in Portsmouth, VA?

As of August 2026, the average rent in Portsmouth, VA is $1,983 per month across 10 apartment communities and 53 available units. Rents have increased $70 (3.8%) over the past month.

The most affordable option is Beacon303 at Olde Towne Apartments starting at $1,175/mo. By unit type, a studio averages $2,167/mo, a 1-bedroom averages $1,544/mo, a 2-bedroom averages $2,126/mo, a 3-bedroom averages $2,463/mo.

Prices range from $1,175 to $3,050 per month. The most common price point is the $1,800 range, where 10 units are currently listed.

Portsmouth, VA Rent Price History

Timeframe

View as table

Month	Avg Rent	Change	Properties
July 2026	$1,756	-	11
August 2026	$1,818	+$62	11

The trend line and monthly averages track each building's average listed price, recorded daily with outliers trimmed. The current month is a month-to-date figure, so it can sit above or below today's live market average shown at the top of this page.

Average Rent by Bedroom

Rent Price Distribution

Rent by Bedroom Type in Portsmouth, VA

Studio

$2,167

from $1,293 · 4 units

1 Bed

$1,544

from $1,175 · 15 units

2 Bed

$2,126

from $1,354 · 31 units

3 Bed

$2,463

from $1,950 · 3 units

Rent Prices by Apartment in Portsmouth, VA

Property	Starting at	Average	Units	Rating
Beacon303 at Olde Towne Apartments	$1,175/mo	$1,513/mo	4	2
Montgomery Square	$1,199/mo	$1,675/mo	9	4.4
The Quarters at Park View Apartments	$1,293/mo	$1,439/mo	2	3.7
Victory Square Apartments	$1,354/mo	$1,354/mo	1	4.4
Harbor Vista	$1,500/mo	$1,671/mo	6	4.5
Harbor Tower Apartments	$1,590/mo	$1,817/mo	2	4.2
Nav850	$1,651/mo	$2,044/mo	11	2.9
Lofts at Front Street	$1,780/mo	$2,459/mo	15	4.4
Sterling King Apartments	$1,864/mo	$1,864/mo	1	3.4
The Roebuck Lofts	$2,425/mo	$2,440/mo	2	4.2

Frequently Asked Questions About Rent in Portsmouth, VA

What is the average rent in Portsmouth, VA?

The average rent in Portsmouth, VA is $1,983 per month as of August 2026, based on 53 units across 10 apartment communities.

Is rent going up or down in Portsmouth, VA?

Rent in Portsmouth, VA has increased $70 (3.8%) over the past month. The current average is $1,983/mo.

What is the cheapest apartment in Portsmouth, VA?

The most affordable apartment in Portsmouth, VA is Beacon303 at Olde Towne Apartments with units starting at $1,175/mo.

How much is a 1-bedroom apartment in Portsmouth, VA?

A 1-bedroom apartment in Portsmouth, VA averages $1,544/mo, with prices starting at $1,175/mo across 15 available units.

How many apartments are available in Portsmouth, VA?

There are 53 units available across 10 apartment communities in Portsmouth, VA.

What salary do I need to live comfortably in Portsmouth, VA?

Built on the 25 to 30 percent rent-to-income guideline used by most landlords and credit-scoring models.

Minimum to afford average rent

$79,000/year

Based on the 30 percent rule, using our tracked average rent of $1,983/mo.

Comfortable income

$95,000/year

Based on the 25 percent rule, leaving more room for savings, transport, and groceries.

To afford the cheapest tracked apartment ($1,175/mo), you need to earn at least $47,000/year.

Cost of living in Portsmouth, VA

We only have live rent data for Portsmouth, VA so far. The full cost of living breakdown (utilities, groceries, transportation, healthcare) is coming soon.

Category	Monthly estimate	Source
Rent (market average)	$1,983	daily refresh
Estimated total	$1,983/mo	$23,796/year

Methodology

Rent data

Sourced directly from each tracked apartment community and refreshed every 24 hours. Every listed unit price on this page is real and listed today.

Cost of living

Estimates combine national consumer-spending baselines from the U.S. Bureau of Labor Statistics (Consumer Expenditure Survey) with the U.S. Bureau of Economic Analysis Regional Price Parities (MARPP dataset). Both are peer-reviewed federal data releases published annually.

Salary to live comfortably

Applies the standard 25 to 30 percent rent-to-income rule on top of the listed rent. This is the same affordability guideline used by most landlords and credit-scoring models.

Demographic figures

Median household income, population, median age, commute time, Census median rent, and rent as percentage of income come from the U.S. Census Bureau's American Community Survey 5-year estimates, the most recent complete release.

Cost of living and demographic figures are refreshed annually.

Virginia Rent Trends

Compare rent across all Virginia cities

Explore Portsmouth, VA on Map

See neighborhoods and rent data interactively

US-wide rent comparison

See how Portsmouth, VA rents stack up against the national median