Portsmouth, VA (zip code 23701) is a great place to consider calling home. It provides a great balance of affordability and convenience. The median 2 bedroom rent is $1,270, which is substantially lower than the average cost around the US ($1,430). Additionally, food costs are also relatively low with an index score of 96 compared to the US average of 100.
The city also offers a range of amenities making it an ideal location for families and professionals alike. The area boasts some of the best restaurants in town such as Shoney's Restaurant & Barbecue, Quiznos Subs, Denny's Restaurant & Barbecue and many more. These eateries provide great sustenance at affordable prices. Shopping opportunities are diverse too with retailers like Walmart Supercenter, Marshalls Department Store and Kohl’s Department Store in abundance. With its mild climate and wide range of activities available year-round – from outdoor recreation to cultural attractions – Portsmouth has something for everyone.
Portsmouth (zip 23701) has an unemployment rate of 8.5%. The US average is 6.0%.
Portsmouth (zip 23701) has seen the job market decrease by -5.8% over the last year. Future job growth over the next ten years is predicted to be 29.6%, which is lower than the US average of 33.5%.
Tax Rates for Portsmouth (zip 23701)
- The Sales Tax Rate for Portsmouth (zip 23701) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Portsmouth (zip 23701) is 5.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Portsmouth (zip 23701)
- The average income of a Portsmouth (zip 23701) resident is $27,030 a year. The US average is $37,638 a year.
- The Median household income of a Portsmouth (zip 23701) resident is $57,082 a year. The US average is $69,021 a year.