$100k in Portsmouth
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📊 Portsmouth Salary Guide
The Portsmouth, VA Salary Guide: What $100,000 Actually Buys You
You saw the offer letter. It reads $100,000. In a major metro like Northern Virginia or DC, that number feels average—survival money. But cross the state line into Portsmouth, Virginia, and the math changes drastically.
This guide breaks down the raw purchasing power of a six-figure salary in this historic port city. We aren’t looking at gross income; we are looking at what hits your bank account.
The Verification Test ($100,000 Analysis)
Let’s run the numbers. The "sticker price" of $100,000 is a vanity metric. The "verification test" looks at the reality of your checkout line.
The $100k Breakdown:
- Gross Income: $100,000
- Federal Tax: -$13,614
- FICA Tax: -$7,650
- State Tax (VA): -$5,750
- Local Tax: $0
- Total Deductions: $27,014
The Bottom Line:
Your Take Home Pay is $72,986.
The Gap Analysis
There is a 27% gap between your gross salary and your net pay. You lose over a quarter of your income to taxes before you pay a single bill. However, compared to high-tax states, Virginia is reasonable. The State Tax of $5,750 is a fixed cost, but the absence of a local tax (unlike the NYC or Philadelphia wage tax) keeps more cash in your pocket.
Monthly Net: $6,082
This is your new baseline. Every financial decision flows from this number.
Smart Budget Breakdown (50/30/20 Rule)
With $6,082 per month in net income, you have significant leverage in Portsmouth. We apply the 50/30/20 rule to maximize wealth without sacrificing quality of life.
1. Needs: $3,041/mo
The Challenge: Rent, utilities, groceries, and insurance.
The Reality: In Portsmouth, this is a generous allocation.
According to current rental market data, the average rent for a 1-bedroom apartment in Portsmouth hovers between $1,100 and $1,400.
- Rent: $1,300
- Utilities/Internet: $200
- Car Insurance/Gas: $400
- Groceries: $500
- Remaining Buffer: $641
You can cover all essential living expenses comfortably with over $600 left over for unexpected costs or a premium gym membership. You do not need to live paycheck to paycheck.
2. Wants: $1,825/mo
This is your "lifestyle" budget. Portsmouth offers a coastal lifestyle without the resort price tag. You can dine out at waterfront restaurants on High Street, visit breweries, and drive a newer vehicle with this budget. This is also the category where you fund travel and hobbies.
3. Savings: $1,216/mo
The Wealth Engine.
Saving $1,216 monthly is the difference between being employed and being wealthy.
- Annual Savings: $14,592
- The Impact: Over 10 years (assuming modest market returns), this savings rate builds a portfolio exceeding $200,000.
In Portsmouth, a $100k salary allows you to save aggressively while living well. Do not waste this advantage.
Portsmouth Taxes vs. The Competition
How does Portsmouth stack up against other tech and business hubs? We compared the tax burden on a $100k salary.
| City | State Tax | Local Tax | Estimated Deductions | Monthly Net Pay |
|---|---|---|---|---|
| Portsmouth, VA | $5,750 | $0 | $27,014 | $6,082 |
| Austin, TX | $0 | $0 | $21,264 | $6,560 |
| New York City, NY | $5,750 | ~$1,200 | $30,500+ | $5,791 |
The Verdict:
Austin, TX wins on raw tax numbers (no state income tax), but the cost of living there is rising faster than inflation. New York City crushes your net pay with local wage taxes and high COL.
Portsmouth sits in the Goldilocks Zone: You pay a moderate state tax, but you avoid the crushing local taxes found in major cities. Your $72,986 goes significantly further here than in NYC or Austin.
Frequently Asked Questions (FAQ)
Q: What is the income tax rate in Portsmouth?
A: Portsmouth has a 0% local income tax. You only pay Virginia State Income Tax (progressive, averaging 5.75% on a $100k salary) and Federal taxes.
Q: Is $100k a good salary in Portsmouth?
A: Yes. With a net monthly income of $6,082, you are well above the area median. You can afford a modern apartment, a financed car, dining out, and still save over $1,200 monthly.
Q: Does Portsmouth have a city tax?
A: No. Unlike cities in Pennsylvania, Ohio, or Maryland that levy local wage taxes, Portsmouth residents pay $0 in local income tax.
Disclaimer: This salary guide is based on estimated 2026 IRS tax brackets, standard FICA rates, and Virginia State Comptroller data. Figures are for informational purposes and do not constitute financial advice. Cost of living estimates are derived from Bureau of Labor Statistics (BLS) CPI data.