Average Rent in Portsmouth, NH↓ Rents falling 4.6% YoY

Portsmouth, NH has rental prices ranging from $1,489/month to $2,813/month in 2027, depending on unit size. The typical 1-bedroom apartment rents for $1,600/month — 14% above the national average of $1,400/month. With a median household income of $112,484/year, spending $1,600/month on a 1-bedroom represents 17% of gross income — within the recommended 30% threshold.

How Portsmouth Compares

With an average 2-bedroom rent of $2,093/month, Portsmouth ranks #4 most expensive of the 12 cities tracked in New Hampshire — pricier than 98% of all US cities in our data.

The Portsmouth Rental Market

The Portsmouth, NH area has a population of about 4,917,661 and 38% of households renting rather than owning. That is close to the US average renter share of ~34%.

Rent Trends

2-bedroom rents in Portsmouth, NH have fallen by $101/month (4.6%) over the past year, from $2,194 to $2,093. This slight decline is consistent with broader market corrections seen across US rental markets.

Affordability

To afford a 1-bedroom apartment in Portsmouth, NH without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $64,000. The local median household income of $112,484 exceeds that threshold by $48,484, making Portsmouth relatively accessible compared to local wages.

Rent vs. Buy

The median home value in Portsmouth, NH is $790,971, giving a price-to-rent ratio of 31.5. With a break-even horizon of approximately 31 years, renting is likely the more financially prudent option for most residents unless they plan to stay long-term.

Is Portsmouth, NH Affordable?

Income needed to rent or buy, price history, and how this city compares to nearby metros.

Rent or Buy in Portsmouth?

Break-even analysis and mortgage estimates based on local market data.

Living in Portsmouth

Cost of living, job market, crime rates, and moving cost estimates.