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44 Apartments under 700 for rent in Portsmouth, VA

Last updated December 15 at 11:35am UTC
Marsh Landing
3817 George Washington Hwy
Portsmouth, VA
Updated December 15 at 7:47am UTC
2 Bedrooms
$695
104 Utah Street
Portsmouth
Portsmouth, VA
Updated December 15 at 9:14am UTC
1 Bedroom
$595
3823 Caroline Avenue
Portsmouth
Portsmouth, VA
Updated December 15 at 9:14am UTC
1 Bedroom
$695
65 Nicholson St., Unit D
Cradock
Portsmouth, VA
Updated December 6 at 11:16am UTC
1 Bedroom
$600
Results within 5 miles of Portsmouth, VA
1281 Little Bay Ave
Willoughby
Norfolk, VA
Updated December 15 at 9:58am UTC
1 Bedroom
$575
714 Thayor St ST
Chesterfield Heights
Norfolk, VA
Updated December 15 at 9:13am UTC
1 Bedroom
$595
2918 Gazel Street - 2
Park Place
Norfolk, VA
Updated December 15 at 11:35am UTC
2 Bedrooms
$699
2908 Marshall Avenue
Huntington
Newport News, VA
Updated December 15 at 9:14am UTC
3 Bedrooms
$675
2628 Shoop Avenue
Fairmont Park
Norfolk, VA
Updated December 15 at 9:14am UTC
1 Bedroom
$650
3102 Vimy Ridge Avenue
Fairmont Park
Norfolk, VA
Updated December 15 at 9:14am UTC
1 Bedroom
$649
862 Rugby Street
Lindenwood
Norfolk, VA
Updated December 15 at 9:14am UTC
1 Bedroom
$695
4629 Charlton Court
Western Branch South
Chesapeake, VA
Updated December 15 at 9:14am UTC
1 Bedroom
$650
410 Little Creek Road
Wards Corner
Norfolk, VA
Updated December 15 at 9:14am UTC
1 Bedroom
$650
812 W. 27th Street
Park Place
Norfolk, VA
Updated December 15 at 9:14am UTC
1 Bedroom
$695
1041 Chesapeake Avenue
South Norfolk
Chesapeake, VA
Updated December 15 at 9:14am UTC
1 Bedroom
$650
869 W Ocean View Avenue
Willoughby
Norfolk, VA
Updated December 15 at 9:14am UTC
2 Bedrooms
$690
1444 41st Street
Lamberts Point
Norfolk, VA
Updated December 15 at 9:14am UTC
2 Bedrooms
$695
837 21ST Street
Wickham
Newport News, VA
Updated December 15 at 9:14am UTC
2 Bedrooms
$650
323 E Little Creek Road
Oakdale Farms-Denby Park
Norfolk, VA
Updated December 15 at 9:14am UTC
1 Bedroom
$600
873 Norview Avenue
Norview
Norfolk, VA
Updated December 15 at 9:14am UTC
1 Bedroom
$650
946 Little Bay Avenue #G
Willoughby
Norfolk, VA
Updated December 5 at 10:18am UTC
1 Bedroom
$650
2911 Chestnut Avenue
Washington
Newport News, VA
Updated November 29 at 11:16am UTC
Studio
$300
Results within 10 miles of Portsmouth, VA
Warwick Village
495 Nelson Dr
Newport News, VA
Updated December 15 at 4:11am UTC
1 Bedroom
$695
2 Bedrooms
$799

December 2018 Portsmouth Rent Report

Welcome to the December 2018 Portsmouth Rent Report. Portsmouth rents increased over the past month. In this report, we'll evaluate trends in the Portsmouth rental market, including comparisons to cities throughout the state and nation.

View full Portsmouth Rent Report
Rent Report
Portsmouth

December 2018 Portsmouth Rent Report

Welcome to the December 2018 Portsmouth Rent Report. Portsmouth rents increased over the past month. In this report, we'll evaluate trends in the Portsmouth rental market, including comparisons to cities throughout the state and nation.

Portsmouth rents increase sharply over the past month

Portsmouth rents have increased 0.7% over the past month, but are down moderately by 0.6% in comparison to the same time last year. Currently, median rents in Portsmouth stand at $770 for a one-bedroom apartment and $930 for a two-bedroom. This is the second straight month that the city has seen rent increases after a decline in September. Portsmouth's year-over-year rent growth lags the state average of 1.8%, as well as the national average of 1.3%.

Rents rising across cities in Virginia

While rent decreases have been occurring in the city of Portsmouth over the past year, cities in the rest of the state are seeing the opposite trend. Rents have risen in 8 of the largest 10 cities in Virginia for which we have data. The state as a whole logged rent growth of 1.8% over the past year. Here's a look at how rents compare across some of the largest cities in the state.

  • Looking throughout the state, Arlington is the most expensive of all Virginia's major cities, with a median two-bedroom rent of $2,080; of the 10 largest cities in the state that we have data for, Norfolk, where a two-bedroom goes for $950, is the only other major city besides Portsmouth to see rents fall year-over-year (-0.1%).
  • Arlington, Richmond, and Alexandria have all experienced year-over-year growth above the state average (3.4%, 2.9%, and 2.0%, respectively).

Portsmouth rents more affordable than many large cities nationwide

As rents have fallen moderately in Portsmouth, many large cities nationwide have seen prices increase, in some cases substantially. Portsmouth is also more affordable than most large cities across the country.

  • Portsmouth's median two-bedroom rent of $930 is below the national average of $1,180. Nationwide, rents have grown by 1.3% over the past year compared to the 0.6% decline in Portsmouth.
  • While rents in Portsmouth fell moderately over the past year, many cities nationwide saw increases, including Phoenix (+3.2%), New York (+2.3%), and Denver (+1.9%).
  • Renters will find more reasonable prices in Portsmouth than most large cities. For example, San Francisco has a median 2BR rent of $3,100, which is more than three times the price in Portsmouth.

For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.
City Median 1BR price Median 2BR price M/M price change Y/Y price change
Virginia Beach $1,070 $1,290 0.2% 0.5%
Norfolk $790 $950 -0.0% -0.1%
Chesapeake $990 $1,200 0.2% 1.4%
Newport News $840 $1,010 -0.4% 0.1%
Hampton $870 $1,050 0.3% 0.6%
Portsmouth $770 $930 0.7% -0.6%
Suffolk $920 $1,110 0.4% 1.9%
Williamsburg $1,010 $1,210 0.2% 1.8%

Methodology - Recent Updates:

Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

Read more about our new methodology below, or see a more detailed post here.

Methodology:

Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.

Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

Read more about our methodology here.

About Rent Reports:

Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.