Housing costs in Portsmouth?
A typical home costs
$207,500, which is 38.6% less expensive than the national average of
$338,100 and 39.5% less expensive than the average Virginia home, at
$343,200. Renting a two-bedroom unit in Portsmouth costs
$1,200 per month, which is 14.3% cheaper than the national average of
$1,400 and 10.0% cheaper than the state average of
$1,320.
Can I afford Portsmouth?
To live comfortably in Portsmouth (zip 23707), Virginia, a minimum annual income of
$39,600 for a family, and
$41,200 for a single person is recommended.
What does A.I. say about Portsmouth?
The cost of living in 23707 Portsmouth, VA is relatively high compared to other parts of the country. Prices for goods and services are elevated due to its proximity to larger cities like Norfolk and Virginia Beach. Housing costs, especially rent, are quite high due to the limited supply of available properties. Groceries, transportation costs, medical care, and other expenses can all be significantly more expensive in this area than in other parts of the state or country. In general, people who live in 23707 Portsmouth should plan on having a higher budget for their everyday expenses.