RANK #390 / 996 NAT · #4 / 37 VA · POP 97,384
1YR FORECAST: +1.2%
5YR OUTLOOK: +26%
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.
Estimated local headcount ranges. Larger employers shown as floor + "+"; smaller employers show exact counts where reported.
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 996 counties.
With a Boom Town Index score of 60/100, Portsmouth city sits in the upper half of all 996 ranked counties. Employment is expanding at +0.6%, and median household income stands at $57,154 — indicators that suggest solid fundamentals even if it's not among the fastest-growing counties in VA.
Housing in Portsmouth city is roughly in line with national affordability norms. The median home costs $213,300 and the income-to-home-value ratio sits at 0.27, with rents averaging $1,225/month. Not a bargain, but not a stretch for most local earners either.
Population and employment in Portsmouth city are both close to flat — population -0.1% YoY and jobs +0.6%. Home values shifted -0.7% over the past 12 months. A steady-state county, neither expanding quickly nor shrinking.
In significant numbers — 6.22% 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.