Portsmouth city, Virginia
Income Data
At a Glance
How Portsmouth city Compares
Detailed Income Statistics
Data Story
About Household Income in Portsmouth city, Virginia
Portsmouth's income lags national average
Portsmouth's median household income of $58,972 falls 21% below the U.S. median of $74,755, placing the city among lower-income areas nationally. While this reflects economic challenges, it also signals opportunities for wage growth and economic development in the region.
Below Virginia's income benchmark
Portsmouth's median household income trails Virginia's state average of $74,957 by $15,985, ranking the city in the lower portion of Virginia's 133 counties and cities. The income gap underscores distinct economic conditions between Portsmouth and wealthier Northern Virginia and Suburban communities.
Portsmouth earns less than nearby cities
Portsmouth ($58,972) earns 11% less than Radford ($52,791) and significantly less than regional hub Prince George County ($88,225). The variation reflects different economic bases—Portsmouth's maritime and port economy differs from nearby manufacturing and government-anchored areas.
Housing costs remain manageable here
Portsmouth residents spend 25.8% of income on rent, slightly above the national ideal of 25%, while median home values of $229,400 are accessible relative to local incomes. This balance suggests housing is neither a severe burden nor an obstacle for most households.
Build wealth despite modest income
Portsmouth households earning $58,972 annually have room to invest 10–15% in retirement accounts and savings plans—totaling $5,900–$8,800 yearly. Starting early with employer matches and low-cost index funds compounds significantly over decades, even on moderate incomes.
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Compare RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.