There are currently 31,139 real estate properties in Portsmouth, VA, with a median automated valuation model (AVM) price of $193,400.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Portsmouth, VA, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Portsmouth, VA, is $204,506.00, with the most expensive house in Portsmouth, VA, topping out at $2,378,000.00 and the cheapest home in Portsmouth, VA, clocking in at $42,500.00. In other words, there’s something for every potential homebuyer or savvy investor in Portsmouth, VA!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Portsmouth, VA, is on a rollercoaster ride. The average rent price in Portsmouth, VA, is $1,373.00. Indeed, when looking to rent in Portsmouth, VA, you can expect to pay as little as $690.00 or as much as $4,040.00, with the average rent median estimated to be $1,350.00. The good news is that finding an affordable and desirable property to rent in Portsmouth, VA -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the Portsmouth, VA area at Foreclosure.com. Get information on foreclosure homes for rent, how to buy foreclosures in Portsmouth, VA and much more. Save thousands at closing with home foreclosure listings in Portsmouth, VA — up to 75% off market value!
Portsmouth is located in Portsmouth, Virginia, with an estimated municipal population of 94,398 residents. All of the best foreclosed homes for sale in Portsmouth are located in the following zip code areas on Foreclosure.com: 23709 23708 23704 23707 23701 23703 23702 23705. The estimated population per square kilometer (.62 miles) in Portsmouth is 1,094.
So, about how much do homes cost in Portsmouth? The most recent median value of resident-owned homes in Portsmouth is 170,897. An estimated 55 percent of households in Portsmouth own their homes, with an average family size of 3.29. The median household income in Portsmouth is 52,175, with17.2 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Portsmouth, the median commute time of resident workers (in minutes) is 23.1. And last, but certainly not least, are you looking for homes to rent in Portsmouth? If so, the average rent price paid by renters in Portsmouth is 1,048, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Portsmouth, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Portsmouth is 35.3, split between 48.1 percent male versus 51.9 female. The percentage of residents who report being married in Portsmouth is 36.5, with an average family size of 3.29.
The percentage of residents who report their race in Portsmouth is as follows:
|Black / African American||52.9%|
|American Indian / Alaskan Native||0.4%|
|Native Hawaiian / Other Pacifc Islander||0.3%|
Looking for family-friendly neighborhoods in and/or near Portsmouth? Or maybe you are searching for 55+ active adult communities in and/or near Portsmouth?
The percentage of residents who report their age in Portsmouth is as follows:
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Portsmouth with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Portsmouth.
How do you know that living in -- or moving to -- Portsmouth is right where you need to be? Perhaps you grew up in Portsmouth or already live nearby; therefore, the decision to buy a home in Portsmouth is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Portsmouth for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Portsmouth:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Portsmouth.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Portsmouth can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Portsmouth, meanwhile, can field multiple offers from more qualified buyers.
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