Cost of Living in Portsmouth, VA
Population: 97,299 • 2026 Data
$58,972
Median Household Income
-24% vs national
$1,266
Median Monthly Rent
-6% vs national
$229,400
Median Home Value
-32% vs national
6.1%
Unemployment Rate
Housing in Portsmouth
The median home value in Portsmouth, VA is $229,400. Monthly rent for a typical unit averages $1,266, while total monthly housing costs (including utilities and insurance) average $1,312.
Rent-to-income ratio: 25.8%. This is within the recommended 30% threshold, suggesting housing is relatively affordable for median-income earners.
Income and Employment
The median household income in Portsmouth, VA is $58,972. The unemployment rate stands at 6.1%, with a labor force of 48,347 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.