RANK #467 / 996 · POP 97,384 · VA
PROJECTED GROWTH: +0.9%
Portsmouth, Virginia, a historic seaport founded in 1752, distinguishes itself with its Olde Towne district, featuring cobblestone streets and a collection of 18th and 19th-century homes. Located across the Elizabeth River from Norfolk, Portsmouth is part of the Hampton Roads metropolitan area. Commuting to Norfolk is possible via tunnels and bridges, though traffic can be a factor, or by taking the Elizabeth River Ferry, which offers a scenic and practical alternative for pedestrians and cyclists. The city offers waterfront parks, marinas, and views of the Elizabeth River, providing a coastal feel. Notable outdoor spaces include Portsmouth City Park and Hoffler Creek Wildlife Preserve, offering opportunities for hiking, bird watching, and water sports.
Life in Portsmouth offers a blend of historic charm and community, with neighborhoods like Olde Towne and Churchland fostering social connections. The city's economy is closely tied to its maritime and defense sectors, with the Norfolk Naval Shipyard being a major employer. Recent economic developments include investments in maritime, logistics, and offshore wind industries, as well as residential projects. Portsmouth Public Schools serve the city with a number of elementary, middle, and high schools. The city's central location and comparatively lower cost of living attract a range of residents, including families and those commuting to nearby cities.
Contracting economy
Prices declining
Moderate climate & terrain
Housing looks undervalued at 3.5x — home prices are low relative to local economic output. The typical U.S. county is 4–6x.
| PROJECT | AMOUNT | STATUS |
|---|---|---|
|
Coastal Virginia Offshore Wind (CVOW) Project
Dominion Energy, Siemens Gamesa, Ørsted North America
|
$10,700M | Under Construction |
|
Globalinx VA Data Center
Globalinx Data Centers
|
$500M | Planned |
|
Rivers Casino Portsmouth & Entertainment District
Rush Street Gaming
|
$340M | Operating |
|
New Port Subdivision (Residential Development)
Canopy Development
|
$150M | Under Construction |
|
Lineage Logistics Cold Storage Facility
Lineage Logistics (formerly Preferred Freezer)
|
$84M | Operating |
|
SimIS Holdings Hyperscale Data Center
SimIS Holdings
|
$50M | Planned |
Source: public records, news, corporate announcements. Amounts are estimates where noted.
Bars show percentile rank among all 996 counties.
Portsmouth city has a Boom Town Index score of 53/100, ranking #467 among 996 U.S. counties. With job growth at +0.6% and a median household income of $57,154, it's an above-average county on economic indicators.
The median home value in Portsmouth city is $213,300 with median rent at $1,225/month. The income-to-home-value ratio is 0.268, which is more affordable than the national average.
Population growth: -0.1% year-over-year. Job growth: +0.6%. Home values changed -0.7% in the past 12 months.
Yes — 6.22% of Portsmouth city's population moved from another state, which is above the national average and indicates strong in-migration.