Find Homes & Apartments for Rent in Portsmouth, VA

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What to Know About

Life in Portsmouth & Beyond

Portsmouth shares many of the great qualities that make Virginia a desirable place to live.

Virginia, where history and modernity seamlessly merge, is home to some of the most significant historical sites in the country. Take a trip back in time and explore the Colonial Williamsburg living history museum, which transports visitors to the 18th century, or wander through the cobblestone streets of Old Town Alexandria. Major universities in Virginia, like the University of Virginia and Virginia Tech, are renowned for their academic excellence. In addition, the state's diverse and growing economy, supported by thriving technology, agriculture, and tourism industries, offers ample employment opportunities.

Outdoor enthusiasts can enjoy a wide range of activities, including hiking and camping in the Blue Ridge Mountains, fishing and boating in the Chesapeake Bay, and skiing in the winter. Sports fans will be thrilled with the exciting college sports games, and families will love visiting famous attractions like the Virginia Beach Boardwalk and the Natural Bridge.

With its stunning natural landscapes, deep historical roots, and thriving economy, Virginia is a great place to live for those who appreciate the unique charm and heritage of the south.

Rental Market Trends

Portsmouth, VA

As of April 2025, Portsmouth's rental market is highly competitive, where rentals lease within days, often attracting multiple applications and above-asking offers. Portsmouth's average rent is 12.1% ($222) lower than the Virginia average of $1,841 and 9.5% ($169) lower than the U.S. average of $1,788.

Average Rent
$1,619
Monthly ChangeMonth Over Month Change
Decreased1.1% ($18)
Yearly ChangeYear Over Year Change
Increased7% ($106)
Avg. Days on MarketAverage Days on Market
25
Unit Type Average Rent Monthly ChangeMonth Over Month Change Yearly ChangeYear Over Year Change
1 Bed $1,579 Increased7.9% ($115) Increased29.2% ($357)
2 Beds $1,831 Increased7.6% ($130) Increased28.9% ($410)
3 Beds $2,029 Increased1.7% ($33) Increased21.7% ($362)
Nearby Cities Average Rent Avg. Rent vs. PortsmouthAverage Rent vs. Portsmouth Avg. Days on MarketAverage Days on Market
Norfolk $1,907 Increased17.8% ($288) 27 days
Chesapeake $1,829 Increased13% ($210) 26 days
Carrollton $1,761 Increased8.8% ($142) 37 days
Hampton $1,622 Increased0.2% ($3) 33 days
Suffolk $1,859 Increased14.8% ($240) 38 days
Rental market trends are calculated using listing data from RentalSource.
Frequently Asked Questions
Portsmouth Rental Market FAQs

Explore rental prices, market trends, and availability in Portsmouth, VA.

The average rent in Portsmouth, VA is $1,619 per month.
Homes in Portsmouth typically rent for between $1,105 and $2,638 per month, with an average of $1,619 per month.
In Portsmouth, the average rent for a 1-bedroom home is $1,579 per month, for a 2-bedroom home, $1,831 per month, and a 3-bedroom home is $2,029 per month.
The average rent in Portsmouth is 9.5% ($169) lower than the national average of $1,788 per month.
The average rent in Portsmouth has decreased by 1.1% ($18) in the last month and increased by 7.0% ($106) over the past year.
The rental market in Portsmouth, VA, is currently highly competitive, where rentals lease within days, often attracting multiple applications and above-asking offers.
In Portsmouth, VA, the average rental stays on the market for approximately 25 days. While most properties are rented within this timeframe, factors like seasonality, demand, and property type can affect how quickly a rental leases.
There are currently 67 rental properties available in Portsmouth, VA.
Based on the current averages, a household would need an annual income of $73,240 to comfortably afford a 2-bedroom home in Portsmouth.
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