Portsmouth city, VA

2024 Fair Market Rents

Tags: 2024 Virginia Beach-Norfolk-Newport News, VA-NC HUD Metro FMR Area

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Return to the state page to see where Virginia ranks nationally and to view information on other counties. Click on the map to view a different county.

The top one largest cities in Portsmouth city are Portsmouth. Fair Market Rents on this page may apply depending on whether the county uses SAFMRs or county level FMRs. Cities in multiple SAFMR areas will have different SAFMRS based on ZIP code.

What type of FMR does Portsmouth city use?

Small Area Fair Market Rents were created by the HUD for this county/Metro Fmr Area however Portsmouth city is not required to use Small Area FMRs by the HUD. It is at the discretion of the local Housing Authority to determine if SAFMRs or 40th percentile FMRs are used.

To learn more about the criteria the HUD uses to determine if a Metro FMR Area requires Small Area Fair Market Rents click here.

How does Portsmouth city compare?

Portsmouth city ($1,493) has a 17.9% higher FMR for 2-Bedroom housing than the average of Virginia ($1,266) and therefore a higher gross rent.

Portsmouth city is rank 36th out of 133 counties. This means the FMRs, or in other words, the gross rent is higher than 97 other counties. Portsmouth city is the 36th most expensive county in terms of FMRs.

Rent Tables Portsmouth city, VA

Fair Market Rent (40th Percentile)

$1,279
studio
$1,287
1-Bedroom
$1,493
2-Bedroom
$2,079
3-Bedroom
$2,532
4-Bedroom

Median Rent (50th Percentile)

$1,364
studio
$1,373
1-Bedroom
$1,593
2-Bedroom
$2,218
3-Bedroom
$2,702
4-Bedroom

Small Market Areas (By Zip Code)

The 90% and 110% SAFMRs represent the minimum and maximum payment standards that can be set by the local Public Housing Authority under regular conditions. The payment standard is the actual value used in Section 8. For more on payment standards click here.

FMRs and SAFMRs are set by the HUD. The local PHA takes these FMR/SAFMR values and may decide to use any value that is within +-10% of the FMR/SAFMR as the payment standard for the areas under their jurisdiction.

For a more in-depth explaination return to the overview page.

ZipCode Studio 1-Bed 2-Bed 3-Bed 4-Bed
23701 $1,200 $1,210 $1,400 $1,950 $2,370
23704 $1,140 $1,150 $1,330 $1,850 $2,260
23705 $1,160 $1,160 $1,350 $1,880 $2,290
23707 $1,060 $1,070 $1,240 $1,730 $2,100
23708 $1,230 $1,240 $1,430 $2,000 $2,430
23709 $1,140 $1,150 $1,330 $1,850 $2,260
ZipCode Studio 1-Bed 2-Bed 3-Bed 4-Bed
23701 $1,080 $1,089 $1,260 $1,755 $2,133
23704 $1,026 $1,035 $1,197 $1,665 $2,034
23705 $1,044 $1,044 $1,215 $1,692 $2,061
23707 $954 $963 $1,116 $1,557 $1,890
23708 $1,107 $1,116 $1,287 $1,800 $2,187
23709 $1,026 $1,035 $1,197 $1,665 $2,034
ZipCode Studio 1-Bed 2-Bed 3-Bed 4-Bed
23701 $1,320 $1,331 $1,540 $2,145 $2,607
23704 $1,254 $1,265 $1,463 $2,035 $2,486
23705 $1,276 $1,276 $1,485 $2,068 $2,519
23707 $1,166 $1,177 $1,364 $1,903 $2,310
23708 $1,353 $1,364 $1,573 $2,200 $2,673
23709 $1,254 $1,265 $1,463 $2,035 $2,486

Fair Market Rents on this page apply to the following city in Portsmouth city, Virginia: Portsmouth.

These Fair Market Rents also apply to the following ZIP code in Portsmouth city, Virginia: 23701, 23704, 23707, 23705, 23708, and 23709.

Portsmouth city, VA is considered part of the following metro FMR area: VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC HUD METRO FMR AREA.

Other counties in the same metro FMR area are: Gloucester County, VA, Isle of Wight County, VA, James City County, VA, Mathews County, VA, York County, VA, Chesapeake city, VA, Hampton city, VA, Newport News city, VA, Norfolk city, VA, Poquoson city, VA, Suffolk city, VA, Virginia Beach city, VA, and Williamsburg city, VA.

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Fair Market Rents are published by the Department of Housing And Urban Development.