Portsmouth city, VA at a glance
Median household income
$60,491$5,041 per month · U.S. Census Bureau ACS 5-YearHow much rent can you afford in Portsmouth city, VA?
HUD’s fair market rent for each size, against what a typical household here earns. Change the income to see yours.
How much is rent in Portsmouth city, VA? By bedroom, 2026
HUD's fiscal 2026 Fair Market Rents for Virginia Beach-Norfolk-Newport News, VA-NC HUD Metro FMR Area, with the income each one takes if rent stays under 30% of it.
| Unit Size | Monthly Rent | Annual Rent | 30% Rule Min. Income | % of Median Income |
|---|---|---|---|---|
| Studio / Efficiency | $1,492 | $17,904 | $59,680 | 29.6% |
| 1-Bedroom Apartment | $1,512 | $18,144 | $60,480 | 30% |
| 2-Bedroom ApartmentBenchmark | $1,713 | $20,556 | $68,520 | 34% |
| 3-Bedroom Home | $2,376 | $28,512 | $95,040 | 47.1% |
| 4-Bedroom Home | $2,797 | $33,564 | $111,880 | 55.5% |
Rent in Portsmouth city, VA, with the wage each unit needs →
What a typical income covers in Portsmouth city, VA
The 50/30/20 rule applied to the local median of $60,491 a year ($5,041 a month before tax).
What $60,491 leaves after Virginia taxes
Federal income tax, Social Security, Medicare and Virginia tax on the local median income. Change the salary to see yours.
Rent, jobs and pay in Virginia
Living in Portsmouth city, VA: common questions
What is the median household income in Portsmouth city, VA?
According to the latest U.S. Census Bureau ACS 5-Year survey, the median household income in Portsmouth city, VA is $60,491 per year (approximately $5,041 per month).
What is the average rent in Portsmouth city, VA?
The closest official figure is HUD's Fair Market Rent for 2026: $1,492 for a studio, $1,512 for one bedroom, $1,713 for two, $2,376 for three and $2,797 for four, utilities included.
It is not an average of listings. HUD sets it at the rent 40% of recent movers paid or less for a standard unit, so a new lease on a nicer place will usually cost more.
Is Portsmouth city, VA expensive to live in?
Prices there run 2.1% below the U.S. average. BEA's regional price parity for the metro area is 97.9, where the U.S. is 100. Rent moves the number most: housing is where places differ, while goods cost about the same everywhere.
How much do you need to earn to comfortably afford rent in Portsmouth city, VA?
To keep a $1,713 two-bedroom under 30% of gross income, a household needs about $68,520 a year, or $5,710 a month. That is 113% of what the typical household in Portsmouth city, VA earns.
How much do you need to live comfortably in Portsmouth city, VA?
On the local median income of $60,491 ($5,041 a month before tax), the 50/30/20 rule leaves $2,520 a month for needs like rent, utilities and groceries, $1,512 for everything else and $1,008 for savings or debt. A two-bedroom at $1,713 takes 68% of the needs share.
How much is the electric bill in Portsmouth city, VA?
Homes in Virginia paid 17.2¢ per kWh on average (EIA). At 900 kWh a month, a typical use, that is about $155. Your bill depends mostly on heating and cooling.