Home Insurance in Portsmouth city, Virginia
The median home value in Portsmouth city is $246,900, 36% lower than the Virginia median.
The typical home in Portsmouth city was built around 1967. About 39% of homes were built before 1960, about 20 points above Virginia's 19%. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing.
In Portsmouth city, the housing stock is 70% single-family homes, 20% apartments in buildings with 5+ units and 1% mobile or manufactured homes.
In Portsmouth city, about 71% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
The vacancy rate is 7%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 58% of occupied homes in Portsmouth city are owner-occupied.
In Portsmouth city, 48% of homes are primarily heated with natural gas.
Per FEMA's National Risk Index, Portsmouth city's top hazards are hurricane (Relatively Moderate), winter weather (Relatively Moderate) and earthquake (Relatively Low). Standard homeowners policies exclude earthquake, so separate coverage is usually needed.
Standard homeowners insurance does not cover flood damage, so flood coverage needs a separate NFIP or private flood policy. As of September 2026, Portsmouth city has 3,632 active NFIP flood policies on file.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in Virginia carries a statewide average premium of $1,537 per year.
Key figures
| Median home value | $246,900 |
|---|---|
| Median year built | 1967 |
| Owner-occupied share | 58% |
| Share of owner-occupied homes with a mortgage | 71% |
| Top hazards (FEMA National Risk Index) | Hurricane (Relatively Moderate), Winter Weather (Relatively Moderate), Earthquake (Relatively Low) |
| Active NFIP flood policies (county) | 3,632 |
| Home insurance premium | $1,537 - statewide average (NAIC, 2023 data) |
Towns and cities
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)