Portsmouth City's January First-Time Homebuyer Report

Portsmouth City is a county in Virginia. It's less affluent than average and the cost of living is average compared to the rest of the state, with a median income of $43,722 per household and cost of living adjustment score of 96.9. 23703, 23701, and 23704 are the three largest zip codes in terms of population. Portsmouth City is made up of homes that are considered older than most with a median of 47 years. Heading the list of top schools in the county is Moyock Elementary School.

Culture

According to Foursquare, Tortilla West, Orapax Greek Inn, and Stove the Restaurant are the most popular spots to eat in Portsmouth City. If you'd like to grab a drink, a popular spot is The Birch. And a good place to get a cup of coffee is Starbucks.

Price Range

The median value of homes in Portsmouth City is $134,500, making the area almost identical to others in Virginia. At the same time, the average list price of available homes is presently $143,345. With home sales in the Portsmouth City market already below average, in this week's report they fell 18.9% to 99 homes sold over the last 30 days.

Make sure you take a look at these eye-catching homes in Portsmouth City that generated the most views from potential buyers:

$170K   $259K   $119K  

Typical Dwelling

A three-bedroom detached home valued around $136,910 is considered a typical dwelling in Portsmouth City. If a buyer was looking for a similar home, they would need good credit and a $27,382 cash down payment to get a mortgage with a 3.95% interest rate. The monthly payments would be $737 and the property tax rate is $12.48 per $1,000 of taxable assessed value.

Get started right now by checking out Portsmouth City homes for sale or reviewing Portsmouth City real estate trends.


Data reported through 1/12/2017

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