Housing decision brief
Portsmouth city, VA Housing Market
Portsmouth city screens as a below-state purchase price, rent that needs comparison, a higher tax-rate signal market. Use the page as a decision brief, not just a price lookup, because local income, taxes, and data confidence change how affordable the county really is.
59th lowest home value out of 133 Virginia counties with data | 94th lowest rent out of 133
Median home value
$229,400
Purchase-price signal from Census ACS.
Median rent
$1,266/mo
Gross rent, including utilities where reported.
Monthly owner cost
$1,378/mo
Owner costs before individual loan terms.
Decision snapshot
Read this county in four signals.
Buy screen
3.9x
Median home value divided by local household income.
Rent burden
34.0%
At or above the 30% burden threshold.
Rent vs own
$112/mo
Median rent screens below owner cost.
Data confidence
1 note
Crime coverage is partial, so safety comparisons need source context.
What Works
Lower purchase price
$229,400 median home value is 5% below Virginia county median
What to Check
Lower income base
$58,972 median income is 12% below Virginia county median
Tax rate needs attention
1.07% effective property-tax rate is 71% above Virginia county median
Health context
Health score is 38.9 out of 100, so affordability should be weighed against local health indicators.
Crime data coverage
Crime data coverage is partial. Treat zero or low crime rates as incomplete until you check the source coverage.
Best Fit For
- Remote earners or cash buyers looking below the state price line
Poor Fit For
- Households dependent on a deep local wage market
- Buyers focused only on purchase price and ignoring annual property tax
- Anyone treating reported crime rates as complete without source context
County vs State vs National
The county number only matters after you see the benchmark. These comparisons show where Portsmouth city is genuinely cheap, where it is average, and where the hidden cost may be.
| Metric | County | State | U.S. | Signal |
|---|---|---|---|---|
Median home value Lower usually helps affordability. | $229,400 | $240,900 | $281,900 | 5% favorable5% below Virginia county median |
Median gross rent Lower usually helps affordability. | $1,266 | $1,043 | $1,163 | 21% pressure21% above Virginia county median |
Monthly owner cost Lower usually helps affordability. | $1,378 | $978 | $1,672 | 41% pressure41% above Virginia county median |
Median household income | $58,972 | $66,718 | $74,755 | 12% pressure12% below Virginia county median |
Effective property-tax rate Lower usually helps affordability. | 1.07% | 0.63% | 1.02% | 71% pressure71% above Virginia county median |
Rent burden Lower usually helps affordability. | 34.00% | 28.00% | N/A | 21% pressure34.00% of renter income goes to rent. |
Income Fit
A low price only helps if local income can carry the monthly cost. This panel compares the county income base with rent and owner-cost thresholds.
Rent cushion
+$8,332
Median income minus rent threshold.
Owner cushion
-$85
Median income minus owner-cost threshold.
Affordability Advisory
This turns the raw housing numbers into income and buy-versus-rent screens.
Affordability verdict
Portsmouth city is moderately affordable for renters, with a median gross rent of $1,266/month representing approximately 25.8% of median household income. The rent burden (GRAPI) stands at 34.0%.
Rent vs own
The median rent in Portsmouth city is $1,266/month, while owner costs run $1,378/month. Renting saves approximately $112/month.
Income needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $50,640/year. For owner costs at the 28% rule, the required income is roughly $59,057/year. With a median household income of $58,972, most households can comfortably afford rent here. Notably, 34.0% of renter households in Portsmouth city are cost-burdened, spending more than 30% of income on housing.
Regional context
Portsmouth city sits 5% more expensive than Louisa County ($1,208/month) in terms of median gross rent.
Better Counties to Compare
Similar counties are matched on home value, rent, income, and state context. This is more useful than a simple nearest-price list.
| County | Home Value | Rent | Why compare |
|---|---|---|---|
| Newport News city, VA | $243,300 | $1,285/mo | Same-state comparison near $243,300 home value and $1,285/mo rent. |
| Hampton city, VA | $234,100 | $1,346/mo | Same-state comparison near $234,100 home value and $1,346/mo rent. |
| Norfolk city, VA | $271,900 | $1,246/mo | Same-state comparison near $271,900 home value and $1,246/mo rent. |
| Lynchburg city, VA | $211,800 | $1,043/mo | Same-state comparison near $211,800 home value and $1,043/mo rent. |
| Essex County, VA | $228,600 | $967/mo | Same-state comparison near $228,600 home value and $967/mo rent. |
Data Confidence
- Crime coverage is partial, so safety comparisons need source context.
Next Checks
Housing Questions for Portsmouth city
Is Portsmouth city affordable for buying a home?
Is renting or owning cheaper in Portsmouth city?
How much income do you need for housing in Portsmouth city?
What should I double-check before moving to Portsmouth city?
Data: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.