106 Luxury Apartments for rent in Portsmouth, VA

Last updated September 25 at 9:34AM
625 South ST
Downtown Portsmouth
Portsmouth, VA
Updated September 14 at 10:12PM
2 Bedrooms
$1,050
5501 Greenbrook DR
Merrifields
Portsmouth, VA
Updated September 23 at 3:23AM
3 Bedrooms
$1,325
76 Farragut ST
Cradock
Portsmouth, VA
Updated September 14 at 10:12PM
3 Bedrooms
$1,095
39 Manly Street
Truxton
Portsmouth, VA
Updated September 21 at 11:53AM
3 Bedrooms
$1,195
426 Mohican DR
Portsmouth
Portsmouth, VA
Updated September 14 at 10:12PM
4 Bedrooms
$1,395
129 Jamestown AVE
Shea Terrace
Portsmouth, VA
Updated September 16 at 11:00AM
3 Bedrooms
$1,395
18 Easton St
Portsmouth
Portsmouth, VA
Updated September 16 at 10:20AM
3 Bedrooms
$1,200
3402 Lilac DR
Portsmouth
Portsmouth, VA
Updated September 14 at 10:12PM
4 Bedrooms
$1,500
4110R Forresthills DR
Merrifields
Portsmouth, VA
Updated September 22 at 6:30PM
3 Bedrooms
$1,400
3618 Mariner Avenue
Portsmouth
Portsmouth, VA
Updated September 21 at 12:40PM
2 Bedrooms
$1,145
5105 Lake Circle
Sterling Point
Portsmouth, VA
Updated September 21 at 10:41AM
4 Bedrooms
$2,250
136 Nautico Way
River Pointe
Portsmouth, VA
Updated September 21 at 11:49AM
3 Bedrooms
$1,650
314 North ST
Olde Towne
Portsmouth, VA
Updated September 23 at 3:26AM
3 Bedrooms
$1,650
2125 Airline Blvd
Portsmouth
Portsmouth, VA
Updated September 22 at 10:44AM
3 Bedrooms
$1,450
4427 Rivermill CT
Portsmouth
Portsmouth, VA
Updated September 19 at 2:43AM
3 Bedrooms
$1,100
3311 Lilac DR
Portsmouth
Portsmouth, VA
Updated September 25 at 9:34AM
3 Bedrooms
$1,595
818 Fayette Street
Prentis Park
Portsmouth, VA
Updated September 14 at 10:13PM
4 Bedrooms
$1,495
Old Farm Rd
Churchland West
Portsmouth, VA
Updated September 24 at 7:26AM
4 Bedrooms
$1,495
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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.