69 Cheap Apartments for rent in Portsmouth, VA

Last updated September 21 at 7:49PM
3732 DEEP CREEK BLVD
Portsmouth
Portsmouth, VA
Updated September 21 at 7:49PM
2 Bedrooms
$725
119 Afton Pkwy
Cradock
Portsmouth, VA
Updated September 14 at 10:12PM
2 Bedrooms
$775
348 Washington ST
Olde Towne
Portsmouth, VA
Updated September 14 at 10:12PM
2 Bedrooms
$750
454 FLORIDA AVE
Port Norfolk
Portsmouth, VA
Updated September 20 at 3:14AM
1 Bedroom
$695
1704 Richmond AVE
Prentis Park
Portsmouth, VA
Updated September 20 at 3:13AM
2 Bedrooms
$650
10 Aylwin CRES
Cradock
Portsmouth, VA
Updated September 14 at 10:12PM
2 Bedrooms
$745
28 Radford ST
Truxton
Portsmouth, VA
Updated September 14 at 10:11PM
1 Bedroom
$695
75 Hobson ST
Truxton
Portsmouth, VA
Updated September 14 at 10:12PM
3 Bedrooms
$777
516 South ST
Downtown Portsmouth
Portsmouth, VA
Updated September 14 at 10:13PM
1 Bedroom
$750
Results within 5 miles of Portsmouth, VA
1009 HANNAH ST
Titustown
Norfolk, VA
Updated September 14 at 10:13PM
2 Bedrooms
$725
1331 28th ST
Newsome
Newport News, VA
Updated September 20 at 3:13AM
2 Bedrooms
$595
184 BALVIEW AVE W
West Ocean View
Norfolk, VA
Updated September 14 at 10:12PM
2 Bedrooms
$750
1023 38th ST W
Park Place
Norfolk, VA
Updated September 21 at 7:33PM
2 Bedrooms
$750
1208 Little Bay AVE
Willoughby
Norfolk, VA
Updated September 14 at 10:13PM
1 Bedroom
$650
417 Beechwood AVE
Glenwood Park
Norfolk, VA
Updated September 16 at 10:57AM
2 Bedrooms
$675
1113 KECOUGHTAN RD
Wythe
Hampton, VA
Updated September 20 at 3:13AM
2 Bedrooms
$750
509 OCEAN VIEW AVE
Willoughby
Norfolk, VA
Updated September 14 at 10:11PM
2 Bedrooms
$725
2716 Jamestown AVE
Wythe
Hampton, VA
Updated September 19 at 2:45AM
2 Bedrooms
$650
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Rent Report
Portsmouth

September 2017 Portsmouth Rent Report

Welcome to the September 2017 Portsmouth Rent Report. In this report, we'll evaluate trends in the Portsmouth rental market, including comparisons to similar cities nationwide.

Portsmouth rents declined moderately over the past month

Portsmouth rents have declined 0.3% over the past month, but are up moderately by 3.3% 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. Portsmouth's year-over-year rent growth leads the state average of 1.6%, as well as the national average of 3.0%.

Portsmouth rents more affordable than many large cities nationwide

As rents have increased in Portsmouth, a few large cities nationwide have seen also rents grow more modestly. Portsmouth is still more affordable than most large cities across the country.

  • Rents also increased in other cities across the state, with Virginia as a whole logging rent growth of 1.6% over the past year.
  • Portsmouth's median two-bedroom rent of $930 is below the national average of $1,160. Nationwide, rents have grown by 3.0% over the past year compared to the 3.3% rise in Portsmouth.
  • While Portsmouth's rents rose over the past year, many cities nationwide also saw increases, including Seattle (+5.4%), Phoenix (+4.9%), and Denver (+3.0%).
  • Renters will find more reasonable prices in Portsmouth than most large cities. For example, San Francisco has a median 2BR rent of $3,070, 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 0.3% 2.6%
Norfolk $800 $960 0.1% 2.2%
Newport News $830 $1,000 0.2% 2.1%
Hampton $860 $1,030 0.8% 2.2%
Portsmouth $770 $930 -0.3% 3.3%
Williamsburg $960 $1,150 -0.9% -4.4%

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.