Cheap Apartments for Rent in the Old Towne Portsmouth Neighborhood of Portsmouth, VA from $667 (34 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Old Towne Portsmouth area of Portsmouth.

property at 424 London St

$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

424 London St

PortsmouthVA23704

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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Starboard Townhomes
$1,418 - $1,448
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$1,319 - $1,349
Required Monthly Fees
$99

Total Monthly Price
$1,418 - $1,448
2 Bedroom Apartments Available Now

Starboard Townhomes

543 Edwards StPortsmouth, VA 23704
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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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Holley Pointe
2 to 3 Bedroom Apartments

Holley Pointe

622 Effingham StPortsmouth, VA 23704
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Five17 King
1 Bedroom Apartments

Five17 King

517 King StPortsmouth, VA 23704
  • Utilities Included
property at 318 Washington St

$1,250

Total Monthly Price

Total Monthly Price

Base Rent
$1,250

Total Monthly Price
$1,250

1 Bedroom, 1 Bath Home for Rent

Available Now

318 Washington St

PortsmouthVA23704
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Tower 507
1 to 2 Bedroom Apartments

Tower 507

507 High StPortsmouth, VA 23704
  • Utilities Included
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309 North St
2 to 3 Bedroom Apartments

309 North St

309 North StPortsmouth, VA 23704

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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.

Old Towne Portsmouth, Portsmouth, VA Local Guide

Cheapest Available Old Towne Portsmouth Apartments for Rent

 

The cheapest available apartment rental in the Old Towne Portsmouth area of Portsmouth, VA is a 2 Beds unit found at The Grand at New Port priced from $950. Harbor Square Apartments has the second lowest priced unit, which is a 2 Beds apartment currently listed from $1,025. Here are the most affordable Old Towne Portsmouth apartments for rent in Portsmouth, VA:

Apartment ListingModel NameBed/BathPriced From
The Grand at New PortMLGR2BR2BR,1BA$950
Harbor Square ApartmentsClassic2BR,1BA$1,025
Holley Pointe2 Bdrm2BR,1BA$1,055
Unity Place at KindredA31BR,1BA$1,116
Crescent Place1 Bedroom1BR,1BA$1,144
Montgomery Square Apartments1SA1BR,1BA$1,169
Beacon 303A11BR,1BA$1,175
Biltmore Commons ApartmentsGarden-Large-2 Bedroom, 1 Bath, 1st Floor2BR,1BA$1,195

Best Value Apartments for Rent in Old Towne Portsmouth, VA

As of August 22, 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 426 London St Model at 426 London St starting at $1,250 with a $1.14 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 ListingModel NameBed/BathPrice Per Sq.Ft.
Holley Pointe3 Bdrm3BR,2BA$1.53
426 London St426 London St2BR,1BA$1.14
Bains Pointe2 Bedroom 1.5 Bath2BR,1.5BA$1.62
Starboard Townhomes2bd/1ba2BR,1BA$1.58
Victory Square 55+ Senior CommunityThe Admiral2BR,1BA$1.54
Crescent Place1 Bedroom1BR,1BA$1.41
Harbor Square ApartmentsClassic2BR,1BA$1.28
Biltmore Commons ApartmentsGarden-Large-2 Bedroom, 1 Bath, 1st Floor2BR,1BA$1.62
301 Broad St, Unit Apt 3301 Broad St1BR,1BA$1.53
Unity Place at KindredA21BR,1BA$1.59

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.

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Real 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.

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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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Pet Friendly Lifestyle
Old Towne Portsmouth, Portsmouth, VA

Ranked #1

Among cities in Virginia for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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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 Unity Place at Kindred which is listed at $1,116, while the average apartment in Old Towne Portsmouth costs $1,842.

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 3 regular apartments in Old Towne 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 Old Towne Portsmouth?

Cheap apartments in Old Towne Portsmouth have an average cost of $111 which is $1,731 cheaper than the average rent for all rentals in Old Towne 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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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

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.