Foreclosure Homes in Portsmouth, VA 23701

Current Market Conditions in Portsmouth, VA

The real estate market in Portsmouth is currently experiencing a steady demand for homes, driven by its desirable location and growing job opportunities. As more people seek affordable housing in well-connected cities, Portsmouth has become an attractive alternative to larger metropolitan areas.

Home prices have shown a moderate increase over the past year, indicating a stable market with plenty of potential for growth. Investors can find opportunities across a range of price points, making it an appealing location for both residential buyers and rental property investors.

Rent Prices In Portsmouth, VA

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Portsmouth, VA, is on a rollercoaster ride. The average rent price in Portsmouth, VA, is $1,376.00. Indeed, when looking to rent in Portsmouth, VA, you can expect to pay as little as $690.00 or as much as $4,620.00, with the average rent median estimated to be $1,340.00. The good news is that finding an affordable and desirable property to rent in Portsmouth, VA -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.