RANK #704 / 1001 NAT · #21 / 37 VA · POP 97,190
1YR FORECAST: +0.2%
5YR OUTLOOK: +25%
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.
Portsmouth city's data profile doesn't fit any single market profile cleanly — its housing, labor, and demographic signals pull in different directions (home prices +0.1% YoY, population -0.1%, wages +3.5%). About 414 U.S. counties show this kind of mixed-signal pattern.
See all 414 Idiosyncratic Markets counties →Overvalued relative to economy
Well below national median
Moderate climate & terrain
Below national median (15x)
Housing looks overvalued at 7.9x — home prices are high relative to local economic output. The typical U.S. county is 4–6x.
Estimated local headcount ranges. Larger employers shown as floor + "+"; smaller employers show exact counts where reported.
Bars show trailing 12-month growth. The dashed Forecast bars are the model's next-12-month projection; the whisker marks the ±1% range (cooling–accelerating).
Source: CDC/NCHS vital statistics via County Health Rankings (2020–2022 avg). Rates per 100,000 population. Grade based on homicide rate relative to national average (~6.3). Learn more →
| 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 1001 counties.
At 29/100, Portsmouth city faces headwinds that place it in the lower third of the 1001 counties we track. Median income of $60,491 combined with job growth of -1.5% suggests the local economy is struggling to keep pace with national trends.
Portsmouth city leans toward the expensive side. A median home value of $246,900 against an income-to-home-value ratio of 0.24 means housing eats a bigger share of local earnings than the national norm. Renters face $1,300/month on average.
Portsmouth city's job market is contracting (-1.5% YoY) while population is roughly stable (-0.1% change). Home values are +0.1% over the past 12 months. Hiring headwinds without an offsetting exodus — residents are staying, but local employers are shedding payroll.
In significant numbers — 6.28% of Portsmouth city's current population relocated from another state, well above the national norm. That level of in-migration usually signals a county where jobs, affordability, or quality of life are pulling people in from elsewhere.