Portsmouth, VA 23704 is an attractive place to live with a variety of amenities. The 2 bedroom rent in the area is $1,200 which is significantly lower than the US National Average of $1,430. This makes Portsmouth a great choice for those who want to save money on their housing costs. Additionally, the grocery cost index in Portsmouth is 95 compared to 100 in the US, meaning groceries are also cheaper in this part of Virginia. To further benefit from living in this area there are plenty of local businesses such as Paddy's Pub & Grille, The Railroad Bar & Grille and Mango's Bar & Grill that offer residents a variety of dining options. Thus, Portsmouth provides an excellent combination of affordability and amenities to its residents.
Portsmouth (zip 23704) has an unemployment rate of 8.5%. The US average is 6.0%.
Portsmouth (zip 23704) 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 23704)
- The Sales Tax Rate for Portsmouth (zip 23704) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Portsmouth (zip 23704) 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 23704)
- The average income of a Portsmouth (zip 23704) resident is $20,592 a year. The US average is $28,555 a year.
- The Median household income of a Portsmouth (zip 23704) resident is $42,831 a year. The US average is $69,021 a year.