Cheap Homes for Rent in Portsmouth, VA from $700 (23 Rentals)

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Search the lowest-cost Homes available for rent right now in Portsmouth.

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 124 Chautauqua Ave

124 Chautauqua Ave

PortsmouthVA23707

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.

property at 801 Randolph St

801 Randolph St

PortsmouthVA23704
property at 134 Chautauqua Ave

134 Chautauqua Ave

PortsmouthVA23707
property at 1510 Wilson Rd

1510 Wilson Rd

NorfolkVA23523

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.

property at 4109 5th St

4109 5th St

ChesapeakeVA23324

Portsmouth, VA Local Guide

Cheapest Neighborhoods for Apartments in Portsmouth, VA

Pricing Updated: 07/30/2025

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$2,500$90017
Downtown Portsmouth$3,575$80011
Old Towne Portsmouth$3,575$1,3255

Cheapest Available Portsmouth Apartments for Rent

 

The cheapest available apartment rental in Portsmouth, VA is a 2 Beds unit found at Welcome Home to The Grand at New Port! in the Camelot neighborhood priced from $950. Harbor Square Apartments in the South Brambleton neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $1,025. Here is today’s list of the most affordable Portsmouth apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Welcome Home to The Grand at New Port!MLGR2BR2BR,1BA$950
Harbor Square ApartmentsClassic2BR,1BA$1,025
Sunnybrook Apartments2 Beds, 1 bath2BR,1BA$1,025
Victory Square 55+ Senior CommunityThe Commodore1BR,1BA$1,099
Bell Diamond ManorGarden2BR,1BA$1,100

Best Value Apartments for Rent in Portsmouth, VA

As of July 31, 2025 the best value apartment in the Portsmouth area is the $1.27 price per square foot 1520 Prentis Ave Model at 1520 Prentis Ave, Unit 4 in the in the Beacon Light neighborhood starting from $1,750. The second greatest value Portsmouth apartment is the MC.3B1.5B Model at Welcome Home to The Grand at Mallard Manor! starting at $1,480 with a $1.23 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.
1520 Prentis Ave, Unit 41520 Prentis Ave3BR,1BA$1.27
Welcome Home to The Grand at Mallard Manor!MC.3B1.5B3BR,1.5BA$1.23
Crescent Place2 Bedroom2BR,2BA$1.07
Churchland SquareThree Bedroom Classic3BR,1BA$1.28
Victory Village3BR, 2BA3BR,2BA$1.21
Origin Circle at Kindred2BR2BR,1BA$1.26
Arbour Reach ApartmentsTwo Bedroom2BR,2BA$1.25
Somyrr Properties2 BR 1.5 BA2BR,1.5BA$1.25
Bell Diamond ManorGarden2BR,1BA$1.34
Harbor Square ApartmentsClassic2BR,1BA$1.28

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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Frequently Asked Questions about Portsmouth

What type of rentals are currently available in Portsmouth?

There are currently 423 Apartments for Rent in Portsmouth, VA with pricing that ranges from $700 to $4,860. There are also 127 Single Family Homes for rent, Condos, and Townhome rentals currently available in Portsmouth ranging from $750 to $4,050.

What is the current price range for Rental Homes in Portsmouth?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Portsmouth ranges from $750 to $4,050 with an average monthly rent of $2,193.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

decorative image for Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting article

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

decorative image for The Art of the Rental Viewing: What to look for during a property tour article

The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

decorative image for Know Your Budget: Calculating What You Can Realistically Afford When Renting article

Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.