Housing costs in Portsmouth?
A typical home costs
$278,400, which is 17.7% less expensive than the national average of
$338,100 and 18.9% less expensive than the average Virginia home, at
$343,200. Renting a two-bedroom unit in Portsmouth costs
$1,310 per month, which is 6.4% cheaper than the national average of
$1,400 and close to the state average of
$1,320.
Can I afford Portsmouth?
To live comfortably in Portsmouth (zip 23703), Virginia, a minimum annual income of
$53,280 for a family, and
$44,800 for a single person is recommended.
What does A.I. say about Portsmouth?
The cost of living in Portsmouth, VA Zip Code 23703 is relatively high compared to other parts of the country. The median home value is $183,000, which is higher than the national median of $184,700. Additionally, the cost of groceries in Portsmouth is approximately 6% higher than the national average. Renters should expect to pay an average monthly rent of around $1,200 for a one-bedroom apartment and $1,500 for a two-bedroom apartment. Utility costs are also above the national average with electricity costing about 19% more than the average and natural gas costing 11% more. Despite these higher costs however, Portsmouth offers an excellent quality of life with its thriving culture and beautiful views near the Elizabeth River.