Cheap Apartments for Rent in Portsmouth, VA from $400 (138 Rentals)

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2 Axson St, Unit C, Unit C
$950
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$950

Total Monthly Price
$950
1 Bedroom Apartment Available Jun 1

2 Axson St, Unit C, Unit C

2 Axson StPortsmouth, VA 23702
Affordability
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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

property at 146 Florida Ave

$1,100

Total Monthly Price

Total Monthly Price

Base Rent
$1,100

Total Monthly Price
$1,100

1 Bedroom, 1 Bath Home for Rent

Available Now

146 Florida Ave

PortsmouthVA23707
property at 742 Mt Vernon Ave

$1,100

Total Monthly Price

Total Monthly Price

Base Rent
$1,100

Total Monthly Price
$1,100

1 Bedroom, 1 Bath Home for Rent

Available Now

742 Mt Vernon Ave

PortsmouthVA23707

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

property at 5626 Carisbrooke Ln

$1,285

Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$1,285

Total Monthly Price
$1,285

2 Bedroom, 2 Bath Townhome for Rent

Available Now

5626 Carisbrooke Ln

PortsmouthVA23703
property at 2025 Peach St

$1,300

Total Monthly Price

Total Monthly Price

Base Rent
$1,300

Total Monthly Price
$1,300

2 Bedroom, 1 Bath Home for Rent

Available Now

2025 Peach St

PortsmouthVA23704
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Starboard Townhomes
Rent Specials
$1,318 - $1,448
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$1,219 - $1,349
Required Monthly Fees
$99

Total Monthly Price
$1,318 - $1,448
1 to 2 Bedroom Apartments Available Now

Starboard Townhomes

543 Edwards StPortsmouth, VA 23704
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The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Holley Pointe
2 to 3 Bedroom Apartments

Holley Pointe

622 Effingham StPortsmouth, VA 23704
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Shea Terrace
1 to 2 Bedroom Apartments

Shea Terrace

253 Constitution AvePortsmouth, VA 23704
Senior Living
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Whispering Oaks Apts LP
1 to 3 Bedroom Apartments

Whispering Oaks Apts LP

2500 Oak Leaf WayPortsmouth, VA 23707
  • Utilities Included
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Cavalier Gardens
2 Bedroom Apartments

Cavalier Gardens

808-814 Cavalier BlvdPortsmouth, VA 23701
  • Utilities Included
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Cedar Creek Apartments
1 to 2 Bedroom Apartments

Cedar Creek Apartments

5624 High St WPortsmouth, VA 23703
  • Utilities Included
property at 9 Aylwin Rd

$900

Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$900

Total Monthly Price
$900

1 Bedroom, 1 Bath Home for Rent

Available Now

9 Aylwin Rd

PortsmouthVA23702

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

Portsmouth, VA Local Guide

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Local Guide Expert

Cheapest Neighborhoods for Apartments in Portsmouth, VA

Pricing Updated: 04/27/2026

Current apartment rentals in the Portsmouth, VA area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Portsmouth Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Midtown Portsmouth$1,427$70019
Downtown Portsmouth$3,350$1,01029
Old Towne Portsmouth$3,350$1,11517

Cheapest Available Portsmouth Apartments for Rent

 

The cheapest available apartment rental in Portsmouth, VA is a 2 Beds unit found at Holley Pointe in the South Brambleton neighborhood priced from $507. New Port Landing in the Camelot neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $875. Here is today’s list of the most affordable Portsmouth apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Holley PointeTwo Bedroom2BR,1BA$507
New Port Landing1 Bedroom 1 Bath1BR,1BA$875
The Grand at New PortMLGR2BR2BR,1BA$950
Arbor Brook Apartments2BR/1.0BA2BR,1BA$995
Collinswood Lake Apartments1 Bed1BR,1BA$995
Bains Pointe2 Bedroom2BR,1BA$1,010
Harbor Square ApartmentsClassic2BR,1BA$1,025
The Orchards at BellevilleThe Magnolia1BR,1BA$1,073
Victory Square 55+ Senior CommunityThe Commodore1BR,1BA$1,115
Unity Place at KindredA31BR,1BA$1,116

Best Value Apartments for Rent in Portsmouth, VA

As of April 28, 2026 the best value apartment in the Portsmouth area is the $1.17 price per square foot 1267 W 27th St Model at 1267 W 27th St, Unit 2 in the in the Edgewater neighborhood starting from $1,400. The second greatest value Portsmouth apartment is the 3 Beds Model at Collinswood Lake Apartments starting at $1,295 with a $1.14 price per square foot in the Western Branch neighborhood. Here is today’s list of the best values for Portsmouth apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
1267 W 27th St, Unit 21267 W 27th St2BR,1BA$1.17
Collinswood Lake Apartments3 Beds3BR,1BA$1.14
426 London St426 London St2BR,1BA$1.14
Origin Circle at Kindred2BR2BR,1BA$1.26
Welcome Home to The Grand at Mallard Manor!MC.2B1.5B2BR,1.5BA$1.29
Somyrr Properties2 BR 1.5 BA2BR,1.5BA$1.25
Arbor Brook Apartments2BR/1.0BA2BR,1BA$1.11
Victory Village2BR, 1BA2BR,1BA$1.39
Crescent Place1 Bedroom1BR,1BA$1.39
Harbor Square ApartmentsClassic2BR,1BA$1.28

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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Don't Settle: How to Negotiate Your Apartment Lease and Save Money

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Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Portsmouth Overview

Wouldn’t you love living within a few hours of amazing seafood, bustling nightlife, tons of history, and beautiful hiking and outdoor activities? Well if you choose to call Portsmouth, VA home, then you can experience all of these and so much more! Portsmouth is a city that is loved by many, and thousands of tourists flock to this area each and every year. From mild temperatures and delicious food to museums and one-of-a-kind festivals, Portsmouth is a place that we all dream about.

Why live in Portsmouth, VA?

Due to the many historical sites, tons of exciting festivals, and close proximity to just about everything, Portsmouth, VA is the perfect place to live your life to the fullest. And by being right along the edge of the eastern part of the U.S., escaping to the beach and soaking in the view is just minutes away! These are just a few reasons why many people choose to look for homes and apartments in Portsmouth.

Portsmouth, VA
Population: 94,632

Ranked #340

in US Census Population by City

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

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Frequently Asked Questions about Cheap Portsmouth Apartments

What is a cheap apartment in Portsmouth?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Portsmouth is under $1,116.

What is the price of a cheap apartment in Portsmouth?

The cheapest apartment in Portsmouth is New Port Landing which is listed at $875, while the average apartment in Portsmouth costs $2,709.

What types of apartments are the cheapest in Portsmouth?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 27 regular apartments in Portsmouth that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Portsmouth?

Cheap apartments in Portsmouth have an average cost of $351 which is $2,358 cheaper than the average rent for all rentals in Portsmouth.

Expert Rental Resources

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

Articles, How-To's, and Tips

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.