Accountant in Portsmouth, VA

Alright, let's talk about accounting in Portsmouth, Virginia. If you're considering a move here, you're likely looking for a place with a stable job market, a manageable cost of living, and a distinct local character. As a career analyst who’s dug into the data and knows the Hampton Roads area, I’ll give you the unvarnished truth about building an accounting career in this historic port city.

Portsmouth isn’t the biggest city in the region, but it’s a cornerstone of the Hampton Roads economy, with a deep naval history and a growing healthcare sector. The numbers show it’s a solid, if not explosive, market for accountants. Let's break down what that actually means for your wallet, your career, and your daily life.

The Salary Picture: Where Portsmouth Stands

First, the bottom line. For an accountant in the Portsmouth metro area, the median salary is $85,408/year, which translates to an hourly rate of $41.06/hour. This is just slightly below the national average for accountants and auditors, which sits at $86,080/year. In a city where the cost of living index is 97.4 (below the U.S. average of 100), this salary provides a comfortable living.

The job market isn't flooded. There are approximately 193 accounting jobs in the metro area. The 10-year job growth is projected at 4%, which is modest but stable—reflecting the city's established industries rather than a tech boom. You're not coming here for explosive growth, but for a reliable career with a lower financial barrier to entry.

Here’s how salaries typically break down by experience level in this market:

| Experience Level | Estimated Annual Salary | Typical Roles | Notes |
| :--- | :--- | :--- | :--- | :--- |
| Entry-Level | $55,000 - $68,000 | Staff Accountant, AP/AR Clerk, Junior Auditor | Requires a bachelor's degree. Often starts in larger firms or healthcare systems. |
| Mid-Career | $75,000 - $95,000 | Senior Accountant, Tax Specialist, Cost Accountant | Typically with 5-8 years of experience and/or CPA license. |
| Senior/Expert | $95,000 - $120,000+ | Controller, Accounting Manager, Senior Tax Manager | Requires 10+ years, CPA, and often industry specialization (e.g., government contracting). |
| Expert/Partner | $120,000+ | Partner in a CPA firm, CFO, Director of Finance | Top-tier roles in larger local firms or major employers. |

Insider Tip: The $85,408 median is a great benchmark, but it's heavily influenced by stable, mid-level roles in the public sector and healthcare. To hit the higher end of that range, you'll need the CPA license and experience in a high-demand niche like government contracting or healthcare financial management.

When comparing to other Virginia cities, Portsmouth offers a unique value proposition. It’s not the high-salary hub of Northern Virginia (where salaries can be 20-30% higher, but so is the rent), nor is it the ultra-low-cost rural market. It sits in a sweet spot. For example, accountants in the Virginia Beach-Norfolk-Newport News metro (which includes Portsmouth) have a median salary of $85,408, similar to Richmond's metro, but with a significantly lower cost of living than the D.C. suburbs. You trade the highest potential salary for a more affordable lifestyle and a shorter commute within a single city.

The Real Take-Home: After Taxes and Rent

Let's get real about your budget. The median salary of $85,408 is your gross income. After federal taxes, FICA (Social Security and Medicare), and Virginia state taxes (which range from 2% to 5.75%), you can expect to take home approximately $64,000 - $66,000 annually, or about $5,300 - $5,500 per month.

Now, let's factor in housing. The average rent for a one-bedroom apartment in Portsmouth is $1,287/month. This is a key number. In a city where the median rent is below the national average, your housing costs are manageable.

Here’s a sample monthly budget for an accountant earning the median salary:

Category	Estimated Monthly Cost	Notes
Take-Home Pay	$5,400	After taxes (estimate based on median salary and VA tax rates).
Rent (1BR Average)	$1,287	24% of take-home pay. This is within the recommended 30% threshold.
Utilities	$150 - $200	Includes electricity, water, gas, and internet.
Groceries	$350 - $450	For a single person.
Transportation	$300 - $400	Gas, insurance, car maintenance. Public transit is limited.
Health Insurance	$200 - $400	Varies widely by employer.
Retirement/Savings	$500 - $800	Essential for long-term wealth building.
Discretionary Spending	$1,000 - $1,500	Dining out, entertainment, shopping, travel.
Total Expenses	~$3,787 - $4,537	Leaves a healthy buffer of $863 - $1,613 monthly.

Can you afford to buy a home? Absolutely. With a median salary of $85,408, you are in a strong position. The median home price in Portsmouth is around $280,000 - $320,000. With a 20% down payment ($56,000 - $64,000), a 30-year mortgage at current rates would have a monthly payment of approximately $1,200 - $1,500 (including taxes and insurance), which is comparable to the average rent. Many accountants in the area build equity here rather than pouring money into rent.

Insider Tip: Look into first-time homebuyer programs offered by the Virginia Housing Development Authority (VHDA). Many Portsmouth residents qualify for down payment assistance, making homeownership even more accessible on this salary.

Where the Jobs Are: Portsmouth's Major Employers

Portsmouth’s job market is anchored by a few key sectors: healthcare, naval support, education, and local government. Accounting roles are concentrated in these large, stable organizations.

1. Portsmouth Naval Medical Center (Naval Medical Center Portsmouth - NMCP): As one of the largest naval hospitals in the country, NMCP is a massive employer. They have a dedicated finance and accounting department handling budgets for a major federal facility. Jobs here are stable, come with federal benefits, and often require (or strongly prefer) active security clearance. Hiring is steady but can be slow due to the federal hiring process.

2. Bon Secours Mercy Health (Portsmouth Regional Hospital): The healthcare system is a top employer in the region. Accounting roles here range from hospital staff accountants to corporate financial analysts. Bon Secours is part of a larger national system, so there are opportunities for advancement within the network. They are consistently hiring for audit, payroll, and reimbursement specialists.

3. Portsmouth Public Schools: The school district is a significant public sector employer. Accountants here manage budgets for dozens of schools, handle grants, and ensure compliance with state education funding regulations. These roles offer great job security and public sector benefits (pension, PTO) but salaries may trend slightly below the $85,408 median.

4. City of Portsmouth Government: Working for the city itself is a major pathway. The Department of Finance and Budget employs accountants, budget analysts, and auditors. These roles are critical for managing the city's finances and are deeply tied to the local economy. Knowledge of municipal accounting (GASB standards) is a huge plus.

5. Local & Regional CPA Firms: While not the "Big Four," firms like Rogers, Sammons & Company and Ward, Brown & Co. provide essential services to local businesses, non-profits, and individuals. These firms offer the classic public accounting path—audit, tax, and consulting—with a strong community focus. They are great for getting your CPA hours and building a local client network.

6. Portsmouth Economic Development Authority: A smaller but influential employer. Their accountants manage incentive programs, loans for businesses, and the city's bond finances. This is a niche, high-impact role for someone interested in urban development and public finance.

Hiring Trends: The most consistent demand is for CPA-certified accountants in healthcare and government. There's also a steady need for accounts payable/receivable clerks and bookkeepers in the small business ecosystem. The 4% growth means openings appear through retirement and turnover more than massive expansion.

Getting Licensed in VA

To practice as a CPA in Virginia, you must meet the specific requirements set by the Virginia Board of Accountancy (VBOA). This is non-negotiable for senior roles.

• Education: You need 150 semester hours of college education, including a bachelor’s degree and 30 hours of upper-level accounting courses. Many local candidates complete this through programs at Old Dominion University (in nearby Norfolk) or Tidewater Community College (with campuses in Portsmouth and Chesapeake).
• Exam: Passing all four sections of the Uniform CPA Exam is required. You can take the exam once you have 120 hours of education, but you cannot be licensed until you complete 150 hours.
• Experience: You need one year (2,000 hours) of qualifying experience in accounting, auditing, or tax. This must be supervised by a currently licensed CPA. This is where working for a local firm or the finance department of a large employer (like Bon Secours or the City) is crucial.
• Cost: The total cost for licensing is typically $1,500 - $2,500, covering exam fees ($1,500+), application fees ($125 for Virginia), and review courses (if you choose one).

Timeline to Get Started: If you're starting fresh, it's a 2-3 year journey: 1 year to complete 30 extra college credits, 6-12 months to study for and pass the CPA exam, and 1 year of supervised experience. For those already with a 150-hour bachelor's, the timeline is typically 12-18 months for the exam and experience.

Insider Tip: The Virginia Board of Accountancy website is your bible. Start your application process early, as it can take weeks for transcripts and verified experience to be processed.

Best Neighborhoods for Accountants

Portsmouth is a city of distinct historic neighborhoods. Your choice will affect your commute, lifestyle, and housing budget.

Neighborhood	Vibe & Commute	Rent Estimate (1BR)	Best For
Downtown & Olde Towne	Historic, walkable, cobblestone streets. 5-10 minute drive to most employers. Can be noisy.	$1,100 - $1,400	Young professionals who want nightlife and history at their doorstep.
Crawford Bay	Quiet, residential, and family-oriented. 10-15 minute commute. Mostly single-family homes.	$1,300 - $1,600	Accountants looking to buy a home and settle down in a peaceful area.
Portsmouth Blvd / Western Branch	More modern, commercial area with big-box stores and newer apartments. 15-20 minute commute to downtown.	$1,200 - $1,450	Those who want modern amenities, easy shopping, and a suburban feel.
Glenwood Park	A quiet, wooded neighborhood with a mix of older homes. Central location, 10-minute commute.	$1,250 - $1,550	Professionals seeking a quiet, established neighborhood with character.

Insider Tip: If you work at the Naval Medical Center, consider the Crawford Bay or Western Branch areas. They offer a straightforward commute that avoids the downtown tunnel traffic, which can be a significant bottleneck.

The Long Game: Career Growth

The 10-year outlook for accountants in Portsmouth is stable, but advancement requires intentional specialization. The 4% growth means you won't be carried forward by market expansion alone; you must differentiate yourself.

• Specialty Premiums: The CPA license is the single biggest salary booster. Beyond that, specialties that command a premium here are:

  • Government Accounting & Auditing: Essential for roles at NMCP, the City, and schools. Knowledge of federal (FASB) and municipal (GASB) standards is key.
  • Healthcare Revenue Cycle Management: With Bon Secours as a major employer, expertise in medical billing, coding, and reimbursement is highly valuable.
  • Government Contracting: Portsmouth's naval ties mean many supporting businesses are federal contractors. Accountants who understand DCAA (Defense Contract Audit Agency) compliance can earn significantly above the median.

• Advancement Paths: The typical path is from Staff Accountant to Senior, then to Manager. The ceiling in public accounting is Partner. In corporate, you can move into Financial Director or Controller roles. Many local accountants also transition into consulting, helping small businesses in Olde Towne or the waterfront district with their finances.

• 10-Year Outlook: In a decade, Portsmouth's economy will likely remain anchored by its current pillars. The biggest variable is potential growth at the Port of Portsmouth or in adjacent Virginia Beach. However, automation and AI will change entry-level tasks, placing a higher premium on analysis, auditing, and strategic financial planning. The accountant who can interpret data and advise on business decisions will thrive.

The Verdict: Is Portsmouth Right for You?

Portsmouth offers a compelling balance for an accountant who values stability, affordability, and a unique quality of life. It’s not the place for chasing Wall Street salaries, but it’s an excellent place to build a solid, comfortable career and life.

Pros	Cons
Cost of Living: A median salary of $85,408 goes far here. You can afford a home.	Job Market Size: Limited number of employers (193 jobs). Less variety than a major metro.
Stable Employers: Healthcare, government, and naval jobs are recession-resistant.	Salary Ceiling: Top-end salaries are lower than in D.C., NYC, or even Richmond.
Location: Close to Virginia Beach and Norfolk for more dining and entertainment.	Traffic & Infrastructure: The tunnels to Norfolk/Virginia Beach can cause major delays.
Quality of Life: Historic charm, waterfront access, and a slower pace of life.	Limited Growth: 4% job growth is steady but not dynamic. Requires self-driven career advancement.

Final Recommendation: Portsmouth is an ideal choice for mid-career accountants (or those planning to get their CPA) who are looking to buy a home, avoid the stress of a hyper-competitive job market, and enjoy a community with deep history and character. It's perfect for the accountant who wants a good work-life balance and a stable career, rather than a high-stakes, high-burnout environment.

FAQs

1. Do I need a CPA license to get a job in Portsmouth?
No, but it is a significant advantage. You can get a good staff accountant role with a bachelor's degree and some experience. However, for senior, manager, and controller roles—and to reach the upper end of the salary range—the CPA is often a requirement or a strong preference.

2. Is the job market competitive?
Moderately. With only 193 jobs, openings don't appear as frequently as in larger cities. The competition is strongest for roles at major employers like Bon Secours and the City. Having the CPA license and local networking (e.g., through the Hampton Roads Chapter of the VSCPA) can set you apart.

3. What’s the commute like within Portsmouth?
It's manageable. Most major employers (downtown, hospitals, schools) are within a 10-15 minute drive of each other. The main challenge is commuting to neighboring Norfolk or Virginia Beach through the HRBT (Hampton Roads Bridge Tunnel) and MMMBT (Monitor-Merrimac Memorial Bridge Tunnel), which can be congested. Living and working in Portsmouth itself avoids most of this.

4. How important is security clearance for accounting jobs?
It's a major bonus. For any role at the Naval Medical Center or with a defense contractor, an active security clearance (or the ability to obtain one) is a huge asset. It can open doors to stable, well-paying federal jobs that require citizenship. You can often obtain clearance if hired for a position that requires it.

5. Is Portsmouth a good place to start a CPA firm?
Potentially, but with caution. The market is served by established local firms. The opportunity lies in niches—like serving the growing small business sector in Olde Towne or specializing in healthcare audits. It’s a better move for an experienced CPA looking to branch out than for a brand-new firm. The low cost of overhead is a plus.