105 Luxury Apartments for rent in Portsmouth, VA

Last updated November 21 at 8:57pm UTC
20 Rodgers Place
Cradock
Portsmouth, VA
Updated November 16 at 12:13pm UTC
3 Bedrooms
$1,050
623 Shenandoah St.
Waterview
Portsmouth, VA
Updated November 16 at 12:03pm UTC
3 Bedrooms
$1,395
5606 Darby Close
Portsmouth
Portsmouth, VA
Updated November 16 at 12:21pm UTC
4 Bedrooms
$1,350
18 CREEKSIDE CT
River Pointe
Portsmouth, VA
Updated November 21 at 1:54am UTC
3 Bedrooms
$1,700
625 South ST
Downtown Portsmouth
Portsmouth, VA
Updated November 2 at 2:57am UTC
2 Bedrooms
$1,050
711 Twine Ave
Uptown
Portsmouth, VA
Updated November 16 at 12:17pm UTC
2 Bedrooms
$1,160
3905 Breakwater DR
Portsmouth
Portsmouth, VA
Updated October 24 at 3:49am UTC
3 Bedrooms
$1,075
523 Normandy ST
Portsmouth
Portsmouth, VA
Updated October 19 at 3:55pm UTC
3 Bedrooms
$1,700
129 Jamestown AVE
Shea Terrace
Portsmouth, VA
Updated November 14 at 9:52am UTC
3 Bedrooms
$1,295
222 Maryland Ave
Port Norfolk
Portsmouth, VA
Updated November 21 at 5:55pm UTC
3 Bedrooms
$1,350
18 Easton St
Portsmouth
Portsmouth, VA
Updated November 11 at 10:37am UTC
3 Bedrooms
$1,200
3764 Lilac Dr
Portsmouth
Portsmouth, VA
Updated November 21 at 6:03pm UTC
4 Bedrooms
$1,595
103 Mimosa RD
Portsmouth
Portsmouth, VA
Updated November 9 at 11:18am UTC
3 Bedrooms
$1,050
5600 High ST W
Portsmouth
Portsmouth, VA
Updated October 19 at 3:51pm UTC
3 Bedrooms
$1,090
133 Sandpiper DR
Shea Terrace
Portsmouth, VA
Updated November 3 at 5:57pm UTC
3 Bedrooms
$1,595
4 Prospect Parkway
Cradock
Portsmouth, VA
Updated November 4 at 1:11pm UTC
4 Bedrooms
$1,295
5920 HAMPSHIRE GREEN
Bishops Green
Portsmouth, VA
Updated November 9 at 12:22pm UTC
4 Bedrooms
$1,795
1821 Maple AVE
Prentis Park
Portsmouth, VA
Updated November 7 at 9:45am UTC
4 Bedrooms
$1,100
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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.