Portsmouth city, Virginia: commercial real estate data.
Portsmouth city, Virginia had an estimated 96,482 residents on July 1, 2024, down 1.5 percent since the 2020 census base of 97,945, across 34 square miles. County output reached $7.78 bn in 2024, 1,597 establishments operate here, and the SBA record carries 36 7(a) approvals worth $16.1 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Portsmouth city
How many people live in Portsmouth city
- Population, American Community Survey 2020-202497,190
- Households40,288
- Average household size2.41
- Median household income$60,491
- Median age35.9
- Median gross rent$1,300 per month
- Median owner-occupied home value$246,900
- Home value to household income4.1 times
- Annual rent as a share of median income25.8 percent
- Adults 25 and over with a bachelor degree or higher24.3 percent
- Adults 25 and over with a graduate degree8.9 percent
- Adults 25 and over65,901
- Population under 1822,392
- Share under 1823.0 percent
- Population 65 and over15,037
- Share 65 and over15.5 percent
- Working age population, 18 to 6459,761
- Civilian labor force45,096
- Unemployment rate6.6 percent
- Labor force participation, adults 18 and over60.3 percent
- Rank by population among Virginia independent cities21st of 133
- Rank by population among US county-equivalents, Puerto Rico included635th of 3,222
Portsmouth city is the 21st largest of 133 Virginia independent cities by population. A median home costs 4.1 times median household income, which is seriously unaffordable by national standards. Residents under 18 outnumber those 65 and over, at 23.0 percent against 15.5 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Portsmouth city
Is Portsmouth city's population growing?
- Population, July 1, 202496,482
- Census 2020 base population97,945
- Population change since the 2020 census base-1.49 percent
- Population change, 2023 to 2024-300
- Births, 20241,300
- Deaths, 20241,147
- Natural change, 2024153
- Net domestic migration, 2024-526
- Net international migration, 202479
- Total net migration, 2024-447
- Cumulative net domestic migration, 2021 to 2024-2,044
- Rank by growth among US county-equivalents2358th of 3,144
The county has lost 1.49 percent of its population since the 2020 census base. More people left than moved in during 2024 and births over deaths did not make up the difference, so the population fell.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Portsmouth city
Where are people moving to Portsmouth city from?
- Tax returns filed by households arriving4,567
- People arriving, from those returns7,978
- Tax returns filed by households leaving4,528
- Net household movement39
- Adjusted gross income arriving$194.0 m
- Net adjusted gross income movement$-26.7 m
- Average income of an arriving household$42,483
- Average income of a leaving household$48,748
- Largest single originChesapeake city (842 households)
- Largest single destinationChesapeake city (880 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Chesapeake city | 842 | 1,546 | $34.1 m |
| Norfolk city | 606 | 1,060 | $22.0 m |
| Virginia Beach city | 564 | 994 | $22.1 m |
| Suffolk city | 432 | 802 | $19.7 m |
| Hampton city | 137 | 224 | $5.7 m |
| Newport News city | 134 | 223 | $5.4 m |
| Foreign - APO/FPO ZIPs | 56 | 93 | $2.9 m |
| San Diego County | 52 | 116 | $2.6 m |
Households arriving report $6,265 less average income than households leaving, which drains spending power even where headcount holds up. The largest single source of arrivals is Chesapeake city, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Portsmouth city
What is the Portsmouth city economy?
- County GDP, 2024$7.78 bn
- County GDP, 2023$7.56 bn
- GDP change, 2023 to 20242.9 percent
- GDP change over five years19.4 percent
- Rank by GDP among the Virginia areas BEA publishes24th of 105
- Rank by GDP among the US county areas BEA publishes542nd of 3,127
- GDP per resident$80,022
Output grew 2.9 percent in the latest year and 19.4 percent over five, which is the trend line a lender will read behind any single year figure.
US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024.
Portsmouth city
Employment by industry in Portsmouth city
- Covered employment, annual average43,620
- Establishments reporting1,876
- Average annual pay$67,867
- Average weekly wage$1,305
- Health care and social assistance, employment5,926
- Health care and social assistance, average annual pay$56,229
- Administrative and support and waste management services, employment3,125
- Administrative and support and waste management services, average annual pay$52,230
- Retail trade, employment2,741
- Retail trade, average annual pay$32,928
- Accommodation and food services, employment2,335
- Accommodation and food services, average annual pay$22,130
- Construction, employment1,960
- Transportation and warehousing, employment1,794
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Health care and social assistance | 5,926 | 438 | $56,229 |
| Administrative and support and waste management services | 3,125 | 87 | $52,230 |
| Retail trade | 2,741 | 241 | $32,928 |
| Accommodation and food services | 2,335 | 151 | $22,130 |
| Construction | 1,960 | 141 | $73,758 |
| Transportation and warehousing | 1,794 | 86 | $80,531 |
| Arts, entertainment and recreation | 1,343 | 23 | $47,755 |
| Other services, except public administration | 1,224 | 188 | $49,446 |
Health care and social assistance is the largest private sector at 5,926 jobs, 13.6 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Portsmouth city
How many businesses are in Portsmouth city?
- Establishments, all industries1,597
- Employment at those establishments25,089
- Annual payroll$1.38 bn
- Establishments per 1,000 residents16.4
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against. County Business Patterns counts private establishments with paid employees in March 2023, while the Quarterly Census of Employment and Wages above counts every unemployment-insured employer, public ones included, as a 2024 annual average, so the two establishment and employment counts differ.
US Census Bureau, County Business Patterns, 2023.
Portsmouth city
Building permits in Portsmouth city
- Housing units authorized by permit, 2024300
- Declared construction value permitted$32.1 m
- Single family units authorized188
- Multifamily units authorized112
- Multifamily share of units37.3 percent
- Average declared value per unit$106,887
- Units authorized per 1,000 households7.4
Single-family homes are 62.7 percent of units authorized, so the pipeline is predominantly single-family.
US Census Bureau, Building Permits Survey, 2024 annual.
Portsmouth city
SBA loans in Portsmouth city (7(a) and 504)
- 7(a) approvals recorded36
- 7(a) gross approval dollars$16.1 m
- Average 7(a) approval$446,744
- Median 7(a) approval$175,000
- 10th percentile approval$15,000
- 90th percentile approval$1,345,050
- Largest single approval$3,380,000
- Jobs reported supported, 7(a)440
- Jobs per approval12.2
- Distinct 7(a) lenders active17
- Distinct industries receiving approvals26
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer16.7 percent
- Loans on real estate terms6
- Loans on working capital terms, 120 months or shorter30
- Franchise loans1
- Franchise share of approvals2.8 percent
- Leading industry by approval countGeneral Freight Trucking, Local (4)
- Most active lenderWells Fargo Bank National Association (6)
- 504 approvals recorded39
- 504 gross approval dollars$12.2 m
- Average 504 approval$314,026
- Median 504 approval$233,000
- Distinct CDCs active2
- 504 jobs per approval2.8
- 504 jobs per million dollars approved9.0
- Most active CDC504 Capital Corporation (33)
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$28.3 m
The average approval of $446,744 sits well above the median of $175,000, pulled up by a few larger deals, so the median is the better guide to what a typical borrower here gets. Only 16.7 percent of approvals run on real estate terms, so SBA credit here is mostly working capital and equipment rather than property acquisition.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30. US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Portsmouth city
SBA loan default and charge-off rates in Portsmouth city
Do SBA loans in Portsmouth city get paid back?
- Loans with a final outcome recorded4
- Paid in full3
- Charged off1
- Status: Exempt from disclosure26
- Status: Paid in full3
- Status: Charged off1
- Status: Cancelled4
- Status: Committed, not yet disbursed2
Only 4 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published.
Compare against the national and state SBA charge-off rates, computed the same way over resolved loans only.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Portsmouth city
SBA lending by place in Portsmouth city
- Borrower cities with recorded lending2
- Portsmouth, approvals35
- Windsor, approvals1
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Portsmouth | 35 | $16,032,800 |
| Windsor | 1 | $50,000 |
Portsmouth accounts for 35 approvals against 1 in Windsor. County level figures average over that gap, which is why a site decision is made at the submarket rather than the county.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Portsmouth city
How large is Portsmouth city?
- Land area34 sq mi
- Rank by land area among Virginia independent cities105th of 133
- Width, east to west7.2 mi
- Height, north to south9.6 mi
- Geographies sharing a boundary3
- Residents per square mile of land2,859
- Establishments per square mile46.97
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023.
Portsmouth city
Flood risk in Portsmouth city
- Participation of the county's own NFIP community Portsmouth, city ofParticipating, community 515529
- Community Rating System class of the county's own communityClass 7
- Communities in the county in the NFIP Community Status Book1
- Of those, participating in the NFIP1
- NFIP participation rate100.0 percent
- Best Community Rating System class in the county A lower CRS class is a larger flood insurance premium discount.Class 7
- Communities carrying a CRS class1
- Radon levels in Portsmouth city, EPA zone predicted average indoor radon screening level less than 2 pCi/LZone 3
The county's own community in the status book, the City of Portsmouth (community 515529), participates in the National Flood Insurance Program and carries Community Rating System class 7, a flood insurance premium discount for policies written there. The EPA places Portsmouth city in radon zone 3, a predicted average indoor radon screening level less than 2 pCi/L. The zone is a screening prediction for the county and does not substitute for a test at an address. The best Community Rating System class among the county's communities is 7, which carries a flood insurance premium discount for policies written in that community. 100.0 percent of the county's listed communities participate in the National Flood Insurance Program, per Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26.
Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26. US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Coverage
What this page does not hold.
Traffic counts, zoning and the flood zone at an address are not on this page; they resolve at the address in the platform. How this page was built →
Feasibility studies
When a Portsmouth city site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a Portsmouth city site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population, American Community Survey 2020-202497,190
- Households40,288
- Average household size2.41
- Median household income$60,491
- Median age35.9
Common questions
Portsmouth city questions, answered from the record.
How many people live in Portsmouth city, Virginia?
The Census Bureau estimates 96,482 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 97,190, in 40,288 households, ranking 21st of 133 Virginia counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Portsmouth city's population growing?
The population has fallen 1.49 percent since the 2020 census base of 97,945, to 96,482 on July 1, 2024. In 2024 there were 1,300 births against 1,147 deaths, with net migration of -447. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Portsmouth city?
$60,491. The median owner-occupied home is valued at $246,900, which is 4.1 times income, and median gross rent is $1,300 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Portsmouth city?
1,597 establishments, employing 25,089 people with an annual payroll of $1.38 bn. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is employment by industry in Portsmouth city?
Health care and social assistance is the largest private sector at 5,926 jobs, 13.6 percent of covered employment. Covered employment averages 43,620 jobs at an average annual pay of $67,867, or $1,305 a week. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Portsmouth city?
36 7(a) approvals totaling $16.1 m since FY2020, across 17 lenders, with a median approval of $175,000, plus 39 504 approvals worth $12.2 m since FY2010. These are approvals recorded in the release, not loans disbursed.
How many building permits were issued in Portsmouth city?
300 housing units were authorized by permit in 2024, with a declared construction value of $32.1 m. Multifamily was 37.3 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Portsmouth city?
Zone 3, a predicted average indoor radon screening level less than 2 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Portsmouth city come from?
The largest single origin is Chesapeake city, with 842 households. Arriving households report an average income of $42,483 against $48,748 for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Portsmouth city on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for Portsmouth city?
No. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame, to be confirmed locally.
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