Virginia Beach-Norfolk-Newport News, VA-NC · Virginia
Portsmouth city
97,299 residents163 permits TTM$58,972 median HHI7 ZIP codesUpdated April 28, 2026
Investor first look
Median home value
$229,400
ACS 5-Year
Cap rate proxy
9.0%
FMR × 0.65 ÷ Home Value
Rent-to-income
25.8%
HUD FMR ÷ ACS HHI
Net migration
+3.05%
IRS SOI
Permits (TTM)
163
Census BPS
Climate risk
54.0
FEMA NRI (0–100)
ZIP code breakdown7 ZIP codes
| ZIP | Median home value | Rent (FMR 2BR) | Gross yield | Cap rate | Rent gap |
|---|---|---|---|---|---|
| 23708 | $229,400county est. | $1,680 | 8.8% | 6.6% | 24.6% |
| 23709 | $229,400county est. | $1,590 | 8.3% | 6.6% | 20.4% |
| 23704 | $228,031 | $1,640 | 8.6% | 8.2% | 3.5% |
| 23702 | $220,997 | $1,480 | 8.0% | 8.7% | -10.0% |
| 23701 | $252,806 | $1,580 | 7.5% | 8.1% | -9.6% |
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Demographics
Owner-occupied
56.9%
Census ACS
Vacancy rate
8.2%
Census ACS
Bachelor's degree +
23.2%
Census ACS
Rent burdened
53.3%
Census ACS (>30% income)
Median age
35.8
Census ACS
U.S. Census Bureau — American Community Survey 5-Year Estimates
U.S. Census Bureau — Building Permits Survey
U.S. Department of Housing and Urban Development — Fair Market Rents / Small Area Fair Market Rents (SAFMR)
Internal Revenue Service — Statistics of Income Migration Data
FEMA — National Risk Index
Last updated: April 28, 2026