Portsmouth, VA

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Portsmouth, VA Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2018. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2016 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Portsmouth Housing Market Information

With 95,252 people, 36,840 houses or apartments, and a median cost of homes of $177,653, Portsmouth real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Portsmouth, accounting for 61.58% of the city's housing units. Other types of housing that are prevalent in Portsmouth include large apartment complexes or high rise apartments ( 20.06%), duplexes, homes converted to apartments or other small apartment buildings ( 10.57%), and a few row houses and other attached homes ( 7.05%).

The most prevalent building size and type in Portsmouth are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 52.20% owning and 47.80% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Portsmouth's housing was primarily built during this period, from the '40s through the '60s. A full 45.57% of the city's housing hails from this era. Other housing ages represented in Portsmouth include homes built between 1970-1999 ( 34.15%) and housing constructed before 1939 ( 12.21%). There's also some housing in Portsmouth built between 2000 and later ( 8.07%).

Vacant housing appears to be an issue in Portsmouth. Fully 10.25% of the housing stock is classified as vacant. Left unchecked, vacant Portsmouth homes and apartments can be a drag on the real estate market, holding Portsmouth real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Portsmouth Home Appreciation Rates

Homes have actually lost value in Portsmouth over the last then years, as home values have seen a decline of 17.72% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Portsmouth home appreciation rates at -0.61%, which equates to an annual appreciation rate of -2.41%.

Over the last year, Portsmouth appreciation rates have trailed the rest of the nation. In the last twelve months, Portsmouth's appreciation rate has been 2.78%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Portsmouth were at -0.61%, which equates to an annual appreciation rate of -2.41%.

Notably, Portsmouth's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Virginia, our data show that Portsmouth's latest annual appreciation rate is higher than 50% of the other cities and towns in Virginia.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Portsmouth differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Portsmouth - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Portsmouth real estate investment or home purchase decisions.

Average Home Values


Median Home Value:

Portsmouth, VA HOME PRICES

Value Range
> $1,109,000 0.4
$832,001 - $1,109,000 0.2
$554,001 - $832,000 1.3
$443,001 - $554,000 1.5
$333,001 - $443,000 4.6
$222,001 - $333,000 20.8
$111,001 - $222,000 56.9
$55,001 - $111,000 10.2
$0 - $55,000 4.1

Average for VA
Average for Nation

Value Relative to Nation Value Relative to State
43.1416058394161 57.8512396694215

Number Of Homes And Apartments:

Portsmouth Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
Latest Quarter:
2018 Q1 - 2018 Q2
Last 12 Months:
2017 Q2 - 2018 Q2
Last 2 Years:
2016 Q2 - 2018 Q2
Last 5 Years:
2013 Q2 - 2018 Q2
Last 10 Years:
2008 Q2 - 2018 Q2
Since 2000:
2000 Q1 - 2018 Q2
67.57% 2.83%
* 10 is highest

Rent & Ownership


Average Market Rent:
$1,329 / per month

Homeownership Rate

Owners 52.20
Renters 47.80
Vacant 10.25

Housing Market Details


Age of Homes

AGE OF Portsmouth HOMES
2000 or Newer 8.1
1970 - 1999 34.2
1940 - 1969 45.6
1939 or Older 12.2

Types of Homes

TYPE OF Portsmouth HOMES
Single-Family 61.6
Townhomes 7.1
Small Apt. Buildings 10.6
Apt. Complexes 20.1
Mobile Homes 0.7
Other 0.0

Home Size

SIZE OF Portsmouth HOMES
No Bedroom 1.95
1 Bedroom 8.26
2 Bedrooms 30.84
3 Bedrooms 42.79
4 Bedrooms 14.15
5 or more bedrooms 2.01