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Portsmouth city Housing Market

Virginia · 133 counties · Ranked #2212 in home value

Below National Avg

Housing at a Glance

Median Home Value

$229,400

vs national$229,400 vs $281,900 national

Median Gross Rent

$1,266/mo

vs national+$1,266 vs $1,163 national

Effective Tax Rate

1.07%

vs national+1.07% vs 1.02% national

Median Household Income

$58,972

vs national$58,972 vs $74,755 national

Affordability Ratio

3.9x

Home value ÷ income. <3 = affordable, >5 = expensive.

Rent Burden

34.0%

% of income spent on rent. >30% = burdened.

More Housing Data

Property Tax (Median)

$2,452

Tax as % of Home Value

1.07%

Monthly Owner Cost

$1,378

Renter Income

$41,164

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Frequently Asked Questions

What is the median home value in Portsmouth city?

The median home value in Portsmouth city is $229,400. This is below the national median of $281,900.

How much is rent in Portsmouth city?

The median gross rent in Portsmouth city is $1,266 per month.

What is the property tax rate in Portsmouth city?

The effective property tax rate in Portsmouth city is 1.07%. The median annual property tax bill is $2,452.

Is Portsmouth city affordable?

With a home-value-to-income ratio of 3.9x, Portsmouth city is moderately affordable compared to the recommended 3-4x guideline.

Data: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.