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Typical Rent in 23702 — Portsmouth, VA
The typical 1-bedroom rent in 23702 (Portsmouth, VA) is $1,635/month as of 2026, based on 5 data sources. Rents have risen 2.9% year over year, so an increase above 2.9% exceeds the local market trend. Studio: $1,290. 2-bedroom: $1,480.
Rents in Portsmouth have grown approximately +2.9% over the past year based on local market data. A rent increase above 2.9% is above the local market trend.
Estimated Rent · 1-Bedroom
$1,635/mo
Source: HUD Estimated Rent
Data through
Based on 5 independent data sources including local market trends and nearby listings.
The HUD Fair Market Rent for a 1-bedroom in 23702 (Portsmouth, VA) is $1,310 for FY2026.
Rents in 23702 have increased 2.9% year-over-year based on local market data.
The confidence level for this estimate is high based on 5 data sources.
Based on local market data, a fair rent increase in Portsmouth (23702) is approximately 2.9% for 2026. The typical 1-bedroom rent is $1,635/month. Any increase significantly above 2.9% exceeds the local market trend and may be worth negotiating.
Sources: local market data, HUD SAFMR FY2026, Rentcast. Updated February 2026.
What Should Rent Cost in 23702 (Portsmouth)?
Typical rent ranges based on HUD benchmarks and market data. In areas with limited listing data, ranges reflect federal benchmarks and may be wider than actual market conditions.
A studio in 23702 (Portsmouth) typically rents for $1,290 – $1,613.
Rents above $1,855 are in the top 25% for this area.
A 1-bedroom in 23702 (Portsmouth) typically rents for $1,310 – $1,635.
Rents above $1,880 are in the top 25% for this area.
A 2-bedroom in 23702 (Portsmouth) typically rents for $1,480 – $1,852.
Rents above $2,130 are in the top 25% for this area.
A 3-bedroom in 23702 (Portsmouth) typically rents for $2,050 – $2,569.
Rents above $2,954 are in the top 25% for this area.
A 4-bedroom in 23702 (Portsmouth) typically rents for $2,420 – $3,024.
Rents above $3,478 are in the top 25% for this area.
Current Asking Rents in 23702
What are apartments actually renting for near 23702? Click below to see live asking rents from current listings.
Live market data · Updated daily
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Rent Trends in Portsmouth, VA
+2.9%
Rents in 23702 (Portsmouth) are rising at +2.9% year-over-year.
✓ Verified trend
Market sources range from +2.6% to +3.4%
Sources: Apartment List, Zillow ZORI, HUD Fair Market Rent
Federal Rent Benchmarks for 23702
HUD Fair Market Rents are federal rent benchmarks used for housing programs, published annually by HUD.Note: These values represent the HUD metro-area benchmark for the Virginia Beach-Norfolk-Newport News, VA-NC HUD Metro FMR Area area, not zip-specific rates.
| Bedroom Size | Fair Market Rent | Estimated Rent |
|---|---|---|
| Studio | $1,290 | $1,613 |
| 1-Bedroom | $1,310 | $1,635 |
| 2-Bedroom | $1,480 | $1,852 |
| 3-Bedroom | $2,050 | $2,569 |
| 4-Bedroom | $2,420 | $3,024 |
Source: HUD SAFMR FY2026 · Updated
Questions about rent in 23702
What is the average 1-bedroom rent in 23702?
The typical 1-bedroom rent in 23702 (Portsmouth, VA) is $1,635/month as of 2026. This page also shows nearby bedroom benchmarks, including studio rent at $1,290 and 2-bedroom rent at $1,480.
What is a fair rent increase in 23702?
A rent increase up to about 2.9% is in line with the recent local market trend in 23702. An increase above that level is above trend and may justify a closer review against local pricing and comparable apartments.
Are rents going up or down in 23702?
Rents in 23702 have risen 2.9% year over year based on the local trend data used on this page.
How much do studios and 2-bedrooms cost in 23702?
On this page, studio rent in 23702 is $1,290/month and 2-bedroom rent is $1,480/month. These figures help show whether your current or proposed rent fits the broader local bedroom mix.
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Similar Rents in Other Areas
These zip codes have similar 1-bedroom rents to 23702 ($1,310/mo) — useful for comparing what your rent gets you in other markets.
Other Zip Codes in Portsmouth, VA
Nearby Areas
Market data updated monthly from public and third-party sources. Actual rents vary by unit, building, and lease terms. For informational purposes only — not legal or financial advice. See methodology →