77 Cheap Apartments for rent in Portsmouth, VA

Last updated November 21 at 2:23am UTC
634 Virginia AVE
Port Norfolk
Portsmouth, VA
Updated November 2 at 6:42pm UTC
1 Bedroom
$775
454 Florida AVE
Port Norfolk
Portsmouth, VA
Updated October 29 at 5:51pm UTC
1 Bedroom
$695
717 South Street A
Downtown Portsmouth
Portsmouth, VA
Updated November 17 at 5:15am UTC
2 Bedrooms
$695
710 Dinwiddie ST
Downtown Portsmouth
Portsmouth, VA
Updated November 16 at 1:40am UTC
1 Bedroom
$750
105 Afton Pkwy 5
Cradock
Portsmouth, VA
Updated November 16 at 12:22pm UTC
1 Bedroom
$650
38 Hobson ST
Truxton
Portsmouth, VA
Updated October 7 at 10:46am UTC
2 Bedrooms
$777
516 South ST
Downtown Portsmouth
Portsmouth, VA
Updated November 15 at 10:18am UTC
1 Bedroom
$750
3823 Caroline AVE
Portsmouth
Portsmouth, VA
Updated October 10 at 10:18am UTC
1 Bedroom
$695
3718 Towne Point RD
Stone Ridge Apartments
Portsmouth, VA
Updated November 17 at 10:23am UTC
2 Bedrooms
$750
1320 Prentis AVE
Prentis Park
Portsmouth, VA
Updated November 18 at 1:48am UTC
2 Bedrooms
$675
348 Washington ST
Olde Towne
Portsmouth, VA
Updated September 14 at 10:12pm UTC
2 Bedrooms
$750
3732 DEEP CREEK BLVD
Portsmouth
Portsmouth, VA
Updated October 16 at 10:38am UTC
2 Bedrooms
$725
10 Aylwin CRES
Cradock
Portsmouth, VA
Updated November 1 at 2:00am UTC
2 Bedrooms
$745
Results within 5 miles of Portsmouth, VA
1217 23rd ST
Magruder
Newport News, VA
Updated November 13 at 9:48am UTC
2 Bedrooms
$650
237 OCEAN VIEW AVE
West Ocean View
Norfolk, VA
Updated October 25 at 9:43am UTC
1 Bedroom
$650
2908 Marshall AVE
Huntington
Newport News, VA
Updated October 12 at 6:48pm UTC
3 Bedrooms
$675
3 Maynard ST
Wythe
Hampton, VA
Updated November 16 at 11:10am UTC
2 Bedrooms
$750
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November 2017 Portsmouth Rent Report

Welcome to the November 2017 Portsmouth Rent Report. Portsmouth rents remained steady 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

November 2017 Portsmouth Rent Report

Welcome to the November 2017 Portsmouth Rent Report. Portsmouth rents remained steady 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 held steady over the past month

Portsmouth rents have remained flat over the past month, however, they are up moderately by 2.0% year-over-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 1.0%, but trails the national average of 2.7%.

Rents rising across cities in Virginia

Throughout the past year, rent increases have been occurring not just in the city of Portsmouth, but across the entire state. Of the largest 10 cities that we have data for in Virginia, all of them have seen prices rise. The state as a whole logged rent growth of 1.0% 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 $2,030; of the 10 largest Virginia cities that we have data for, all have seen rents rise year-over-year, with Newport News experiencing the fastest growth (+3.4%).
  • Chesapeake, Portsmouth, and Virginia Beach have all experienced year-over-year growth above the state average (2.3%, 2.0%, and 1.8%, respectively).

Portsmouth rents more affordable than many large cities nationwide

As rents have increased moderately in Portsmouth, large cities nationwide have seen rents grow more modestly, or in some cases, even decline. Portsmouth is still more affordable than most large cities across the country.

  • Portsmouth's median two-bedroom rent of $930 is below the national average of $1,160. Nationwide, rents have grown by 2.7% over the past year compared to the 2.0% rise in Portsmouth.
  • While Portsmouth's rents rose moderately over the past year, some cities nationwide saw decreases, including New York (-0.2%) and Miami (-0.2%).
  • 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 -0.1% 1.8%
Norfolk $790 $950 -0.4% 1.6%
Chesapeake $980 $1,180 2.3%
Newport News $840 $1,010 0.6% 3.4%
Hampton $860 $1,040 0.3% 1.6%
Portsmouth $770 $930 0.1% 2.0%
Williamsburg $990 $1,170 0.8% -0.3%

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.