Rentometer, Inc. | Data as of 01/10/2026
Portsmouth, Virginia offers a vibrant rental market that blends historic charm with modern convenience. Nestled along the Elizabeth River and home to the iconic Naval Shipyard, the city enjoys easy access to downtown attractions, waterfront parks, and cultural venues such as the Portsmouth Art & Cultural Center. Neighborhoods like Olde Towne, the bustling Business District, and the growing Midtown area provide a variety of lifestyle options, from walkable streets lined with local boutiques to quiet residential streets perfect for families and professionals alike.
Renters in Portsmouth can choose from a diverse mix of apartments and single‑family homes. Studio apartments typically fall in the $1,000 range, while one‑bedroom units—both in apartments and houses—generally sit between $1,200 and $1,300. Two‑bedroom options often land in the $1,300‑$1,500 bracket, and three‑bedroom homes approach the $2,000 range, making them a popular choice for growing households. Larger houses with four or more bedrooms tend to reach the $2,400‑$2,500 range, offering ample space for those needing extra room. This spread of price points reflects the city's balanced supply of newer apartment complexes and well‑maintained historic homes.
Beyond affordability, Portsmouth’s rental landscape benefits from strong transportation links, including I‑64, US‑460, and a convenient commuter rail line to Norfolk and Virginia Beach. Proximity to major employers, educational institutions, and recreational amenities ensures that renters enjoy both convenience and quality of life. Whether you’re seeking a sleek downtown studio, a family‑friendly suburban house, or a quiet neighborhood near the Riverfront, Portsmouth’s rental market provides options that cater to a wide range of preferences and budgets.
| Property Type | Bedrooms | Average | Median | Min - Max | 25th - 75th |
|---|---|---|---|---|---|
| Apartment | 1 Bedroom | $1,257 | $1,250 | $750 - $1,760 | $1,075 - $1,492 |
| Apartment | 2 Bedroom | $1,331 | $1,300 | $800 - $2,045 | $1,165 - $1,400 |
| Apartment | 3 Bedroom | $1,554 | $1,533 | $1,150 - $2,600 | $1,395 - $1,655 |
| House | 1 Bedroom | $1,117 | $1,200 | $750 - $1,500 | $995 - $1,225 |
| House | 2 Bedroom | $1,458 | $1,372 | $1,000 - $2,400 | $1,250 - $1,625 |
| House | 3 Bedroom | $1,981 | $1,950 | $1,000 - $3,500 | $1,750 - $2,200 |
| House | 4+ Bedroom | $2,467 | $2,400 | $800 - $3,800 | $2,175 - $2,700 |
In the current period, the average rent in Portsmouth was $1,025 for Studio, $1,222 for 1 Bedroom, $1,397 for 2 Bedroom, $1,936 for 3 Bedroom, and $2,428 for 4+ Bedroom.
Data provided by Rentometer, Inc.