Rent to Own Homes near Portsmouth, VA

Top Reasons to Live in Portsmouth VA

  • When choosing rent to own homes to buy or invest in, the city of Portsmouth, Virginia, may be an ideal choice for the location. Located in the Hampton Roads Metro area, the city is home to more than 97,450 people. It is known for the Norfolk Naval Shipyard, a historic and still important US Navy location. The Elizabeth River flows through this area and provides access to ample opportunities for everything from fishing to sailing. With its vibrant arts scene and fun nightlife, Portsmouth truly has something for everyone.

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  • Housing Statistics The median sale price of a home in Portsmouth for the second quarter of 2013 was $120,110. This is a significant drop in home values since the previous year. About 699 homes sold in the last year, with about 300 of those homes selling in the previous six months. The average price per square foot for the city is $96. The average listing price here stands at $158,280, which is about the same as it was at the same time in 2012.
  • Transportation and Commutes Commuting to and from work is very important for many people living in Portsmouth. However, the city has a comprehensive road system that is highly efficient. It is important to note that, even since the 1800s, the city has been very water-oriented, with various points providing access to the city. Some of the main thoroughfares running through the city include US Route 58, which is an east to west road, and Interstate 64, which connects Portsmouth to Norfolk. This type of commute generally takes about 30 to 50 minutes.
  • Nightlife Having things to do in the city where you buy property is essential. The good news is there are plenty of options available in terms of nightlife in Portsmouth. Bars, restaurants, and even some bistros offer fun evenings packed with all types of activities. The Barrel, Vanity Night Club and Bistro, and Red Shirt Riot are the most common destinations in the city. Baron's Pub and Restaurant, along with Majestical City and Bugatti's are also popular options. For individuals who want to catch the game while enjoying a few drinks, Baxter's Sports Lounge is a popular destination.
  • Neighborhoods Numerous neighborhoods exist throughout the city of Portsmouth. Choosing a home in this region means knowing where to look. Consider visiting one of these top residential areas.