23703 Portsmouth, VA is a wonderful place to live. The average two-bedroom rent in the city is $1,310, which is lower than the US average of $1,430. Additionally, the Grocery Cost Index in 23703 Portsmouth, VA is 97 versus 100 in the US which makes it more affordable to shop for groceries here. The local economy of this area boasts several prominent companies such as Norfolk Naval Shipyard, Chrysler Financial Corporation, and Rockwell Collins. These organizations provide jobs for thousands of people living in and around 23703 Portsmouth.
Portsmouth (zip 23703) has an unemployment rate of 8.5%. The US average is 6.0%.
Portsmouth (zip 23703) has seen the job market increase by 1.3% 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 23703)
- The Sales Tax Rate for Portsmouth (zip 23703) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Portsmouth (zip 23703) 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 23703)
- The average income of a Portsmouth (zip 23703) resident is $27,132 a year. The US average is $28,555 a year.
- The Median household income of a Portsmouth (zip 23703) resident is $68,413 a year. The US average is $69,021 a year.