Home Insurance in Portsmouth, Virginia
The median home value in Portsmouth is $246,900, close to the Portsmouth city median.
Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. The typical home in Portsmouth was built around 1967. About 39% of homes were built before 1960, in line with Portsmouth city (39%).
The housing stock in Portsmouth is 70% single-family homes, 20% apartments in buildings with 5+ units and 1% mobile or manufactured homes.
71% of owner-occupied homes in Portsmouth carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
About 58% of occupied homes in Portsmouth are owner-occupied. The vacancy rate is 7%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
In Portsmouth, 48% of homes are primarily heated with natural gas.
Portsmouth city had 3,632 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is hurricane (Relatively Moderate). See the full Portsmouth city home insurance overview for all FEMA hazard ratings and flood coverage details.
In Virginia, the statewide average premium for a standard HO-3 homeowners policy is $1,537 per year (NAIC, 2023 data).
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 county hazard | Hurricane (Relatively Moderate) |
| Active NFIP policies in Portsmouth city | 3,632 |
| Home insurance premium | $1,537 - statewide average (NAIC, 2023 data) |
Nearby towns
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)