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30 Furnished Apartments for rent in Portsmouth, VA

Last updated January 19 at 2:05am UTC
3016 E Shire Circle
Portsmouth
Portsmouth, VA
Updated January 18 at 10:12am UTC
1 Bedroom
$925
73 Elm Street
Park View
Portsmouth, VA
Updated January 19 at 1:34am UTC
1 Bedroom
$695
Results within 1 miles of Portsmouth, VA
James
345 Granby St
Norfolk, VA
Updated January 19 at 1:18am UTC
Studio
Ask
1 Bedroom
$966
2 Bedrooms
$1,917
The Virginia Building
101 West Plume Street
Norfolk, VA
Updated January 19 at 12:24am UTC
Studio
$975
1 Bedroom
$1,040
The Loraine
245 Granby Street
Norfolk, VA
Updated January 19 at 1:18am UTC
Studio
$1,067
1 Bedroom
$1,120
2 Bedrooms
Ask
241 Granby Street
Downtown Norfolk
Norfolk, VA
Updated January 19 at 1:34am UTC
1 Bedroom
$1,195
309 W Freemason Street
Downtown Norfolk
Norfolk, VA
Updated January 19 at 1:34am UTC
1 Bedroom
$1,400
Results within 5 miles of Portsmouth, VA
Holly Point Apartments
2540 Holly Point Blvd
Chesapeake, VA
Updated January 19 at 1:18am UTC
1 Bedroom
$1,065
2 Bedrooms
$1,120
3 Bedrooms
$1,600
Element at Ghent
111 E 18th St
Norfolk, VA
Updated January 19 at 2:05am UTC
1 Bedroom
$1,189
2 Bedrooms
$1,607
4617 Colley Avenue
Highland Park
Norfolk, VA
Updated January 18 at 10:30pm UTC
1 Bedroom
$650
Results within 10 miles of Portsmouth, VA
Diamond North
1350 Sapphire Dr
Virginia Beach, VA
Updated January 19 at 2:05am UTC
1 Bedroom
$1,238
2 Bedrooms
$1,520
3 Bedrooms
$1,742
East Beach Marina
4921 Pretty Lake Ave
Norfolk, VA
Updated January 19 at 1:18am UTC
1 Bedroom
$1,299
2 Bedrooms
$1,883
Nexus
544 Newtown Road
Virginia Beach, VA
Updated January 19 at 12:19am UTC
1 Bedroom
$1,119
2 Bedrooms
$1,479
9626 13th Bay St
East Ocean View
Norfolk, VA
Updated January 18 at 9:37am UTC
2 Bedrooms
$900
910 Spinnaker Ct
Greenbrier East
Chesapeake, VA
Updated January 18 at 9:37am UTC
2 Bedrooms
$1,995

January 2019 Portsmouth Rent Report

Welcome to the January 2019 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

January 2019 Portsmouth Rent Report

Welcome to the January 2019 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 increased significantly over the past month

Portsmouth rents have increased 0.4% over the past month, but have decreased moderately by 1.0% 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 third 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 1.9%, as well as the national average of 0.9%.

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 1.9% 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 $2,070; of the 10 largest Virginia cities that we have data for, 8 have seen rents rise year-over-year, with Arlington experiencing the fastest growth (+4.3%).
  • Alexandria and Richmond have both experienced year-over-year growth above the state average (2.9% and 2.9%, 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 0.9% over the past year compared to the 1.0% decline in Portsmouth.
  • While rents in Portsmouth fell moderately over the past year, many cities nationwide saw increases, including Phoenix (+3.3%), New York (+2.7%), and Denver (+2.5%).
  • Renters will find more reasonable prices in Portsmouth than most large cities. For example, San Francisco has a median 2BR rent of $3,090, 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% 0.8%
Norfolk $790 $950 0.0% -0.0%
Chesapeake $990 $1,200 0.0% 1.7%
Newport News $840 $1,010 -0.3% 0.3%
Hampton $870 $1,050 0.1% 0.9%
Portsmouth $770 $930 0.4% -1.0%
Suffolk $890 $1,070 -3.7% -2.3%
Williamsburg $1,010 $1,210 0.1% 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.