
Cheap Apartments for Rent in the Old Towne Portsmouth Neighborhood of Portsmouth, VA from $900 (17 Rentals)
Search the lowest-cost Apartments available for rent right now in the Old Towne Portsmouth area of Portsmouth.


Beacon 303

Harbor Tower Apartments

Total Monthly Price
364 Middle St, Unit #5

915 High St
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.

311-315 North Street

424 North St

Moore

The Crawford

Admiral's Landing
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.

Sterling King

Holley Pointe

Tower 507

Crawford House

Five17 King
Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting
Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

Green Street Apartments

Olde Towne Apartments
Old Towne Portsmouth, Portsmouth, VA Local Guide

How much does it cost to rent an apartment in Old Towne Portsmouth?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Old Towne Portsmouth 1 Bedroom Apartments | $1,290 | $900 | $1,757 |
| Old Towne Portsmouth 2 Bedroom Apartments | $1,717 | $1,354 | $2,189 |
| Old Towne Portsmouth 3 Bedroom Apartments | $1,950 | $1,950 | $1,950 |
Browse Apartments in this Neighborhood
There are currently 17 rentals with your search options within a 2 mile radius of the Old Towne Portsmouth Neighborhood of Portsmouth, VA.
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Old Towne Portsmouth, Portsmouth, VA Local Guide
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Cheapest Available Old Towne Portsmouth Apartments for Rent
 The cheapest available apartment rental in the Old Towne Portsmouth area of Portsmouth, VA is a 1 Bed unit found at Beacon 303 priced from $1,050. Victory Square 55+ Senior Community has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,129. Here are the most affordable Old Towne Portsmouth apartments for rent in Portsmouth, VA:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Beacon 303 | A1 | 1BR,1BA | $1,050 |
| Victory Square 55+ Senior Community | The Commodore | 1BR,1BA | $1,129 |
| Montgomery Square Apartments | 1G | 1BR,1BA | $1,499 |
| Nav850 | The Sycamore | 1BR,1BA | $1,574 |
| Holley Pointe | 3 Bdrm | 3BR,2BA | $1,850 |
Best Value Apartments for Rent in Old Towne Portsmouth, VA
As of June 30, 2026 the best value apartment in the Old Towne Portsmouth area is the $1.53 price per square foot 3 Bdrm Model at Holley Pointe in the in the South Brambleton neighborhood starting from $1,850. The second greatest value Old Towne Portsmouth apartment is the 364 Middle St Model at 364 Middle St, Unit #5 starting at $1,525 with a $1.39 price per square foot in the Dnc neighborhood. Here is today’s list of the best values for Old Towne Portsmouth apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Holley Pointe | 3 Bdrm | 3BR,2BA | $1.53 |
| 364 Middle St, Unit #5 | 364 Middle St | 2BR,1BA | $1.39 |
| Nav850 | The Sycamore | 1BR,1BA | $2.10 |
| Victory Square 55+ Senior Community | The Commodore | 1BR,1BA | $1.67 |
| Montgomery Square Apartments | 1G | 1BR,1BA | $2.24 |
| Beacon 303 | Renovated and Spacious 1BR In Downtown Portsmouth | 1BR,1BA | $2.24 |
| 367 Middle St, Unit 3 | 367 Middle St | 1BR,1BA | $3.64 |
Don't Settle: How to Negotiate Your Apartment Lease and Save Money
Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.
Read ArticleReal Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University
From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.
Read ArticleQuick 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.
Pet Friendly LifestyleOld Towne Portsmouth, Portsmouth, VA
Ranked #3
Among cities in Virginia for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
2.5Pet Friendly
Frequently Asked Questions about Cheap Old Towne Portsmouth Apartments
What is the price of a cheap apartment in Old Towne Portsmouth?
The cheapest apartment in Old Towne Portsmouth is Beacon 303 which is listed at $1,050, while the average apartment in Old Towne Portsmouth costs $1,950.
What types of apartments are the cheapest in Old Towne 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 4 regular apartments in Old Towne Portsmouth that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
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

Renters Insurance 101: What It Is, What It Covers, and Why You Need It
Written by: Robin Stewart
Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

Apartment Occupancy Rates: Renter Attraction vs Renter Retention
Written by: Robin Stewart
There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide
Written by: Robin Stewart
Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

Pet-Friendly Renting: Everything You Need to Know Before You Move
Written by: Christine Leonard, Esq.
For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.