Insurance Agent Salary in Portsmouth, VA: $58,554 (2026)
Quick Answer:A full-time insurance agent in Portsmouth, VA earns a median $58,554/year (≈ $28.15/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 41-3021). Once you factor in Portsmouth's price level (3% above national, BEA RPP 103.2), that paycheck buys what $56,738 would nationally. Nominal pay sits 3.2% below the Virginia state average.
Based on BLS state-level estimates · View source
In 2026, insurance agents in Portsmouth, Virginia, are projected to earn a median annual salary of $58,554, which reflects a competitive figure within the context of the broader national average of $64,522. The salary range for these professionals spans from $35,475 at the 10th percentile to $90,758 at the 90th percentile, providing a wide spectrum of earning potential based on experience, clientele, and the nature of their business practices. These figures are derived from estimates based on 2025 BLS data, adjusted for regional cost variations, illustrating that while Portsmouth's insurance agent salaries are slightly lower than the national median, the local market remains robust and opportunities for growth are present.
About the Portsmouth Market
Salary estimated from Virginia average ($62,000) adjusted for local cost of living.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $35,475 | $17.05 |
| Lower Range (P25) | $43,956 | $21.13 |
| Median (P50)(typical) | $58,554 | $28.15 |
| Upper Range (P75) | $74,948 | $36.03 |
| Top Earners (P90) | $90,758 | $43.64 |
Median Salary Position
9.25% below the national average
2026 Salary Percentile Distribution in Portsmouth
In Portsmouth, VA, the insurance agent salary spread from the 10th to 90th percentile is $55,283 (2026 est.). At $58,554, the local median is 9.25% below the national median of $64,522.
Salary Calculator
At 40 hours/week in Portsmouth: You'd be in the lower-middle range
How Portsmouth Insurance Agent Pay Compares
Portsmouth median: $58,554/year (2026)
| Compared To | Median Salary | Portsmouth Pays |
|---|---|---|
| Virginia Average | $60,489 | -3.20% less |
| National Average | $64,522 | -9.25% less |
Insurance Agents in Portsmouth, VA earn a median of $58,554 per year (2026 est.), which is 9.25% lower than the national median of $64,522 and 3.20% below the Virginia state average of $60,489.
Cost-of-Living Adjusted Salary
Portsmouth has a cost of living 3.20% above the national average.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Portsmouth, VA has a cost-of-living index of 103.2 (above the national average of 100). While the nominal salary of $58,554 is competitive, the higher cost of living reduces purchasing power to an effective $56,738 — a 3.1% reduction.
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2019 BLS Actual
$46,228
2025 BLS Actual
$56,519
2026 Current Est.
$58,554
2019–2027 Growth
+31.2%
Salary Trajectory for Insurance Agents in Portsmouth (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.60% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $46,228 | Actual |
| 2020 | $47,353 | Actual |
| 2021 | $45,230 | Actual |
| 2022 | $52,508 | Actual |
| 2023 | $53,615 | Actual |
| 2024 | $61,913 | Actual |
| 2025 | $56,519 | Actual |
| 2026(current) | $58,554 | Estimated |
| 2027 | $60,662 | Projected |
Based on 7 years of BLS OEWS data for the Portsmouth metropolitan area, the median insurance agent salary grew 22.3% from $46,228 (2019) to $56,519 (2025). At a 3.60% compound annual growth rate, salaries are projected to reach $60,662 by 2027 — a total increase of $14,434 (31.22%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Portsmouth metropolitan area, sourced from annual Occupational Employment and Wage Statistics surveys. 2026–2026 figures are current estimates, and 2027 values are projections, calculated using a 3.60% CAGR derived from 7-year BLS historical data. Actual salaries may vary based on employer, experience, certifications, and local market conditions.
Salary by Experience Level
| Experience | Estimated Salary Range |
|---|---|
| 0-2 years (New Graduate) | $35,475 – $43,956 |
| 3-5 years (Mid Career) | $43,956 – $58,554 |
| 5+ years (Experienced) | $58,554 – $74,948 |
| 10+ years (Top Earner) | $74,948 – $90,758 |
Agent salary ranges estimated from BLS percentile data. Individual insurance agent compensation varies by employer, certifications, and specialization.
Insurance Agent Job Market in Portsmouth
The job market in Portsmouth features approximately 17 insurance agents, suggesting a relatively niche yet significant presence of these professionals in the local economy. With a cost of living index of 103.2, agents must navigate the realities of take-home pay versus living expenses in the region. Captive agencies, such as State Farm and Allstate, often dominate the local market, providing steady incomes for agents through salary structures and renewal commissions. However, independent agencies and commercial brokers frequently offer higher earning potential due to the larger commission deals associated with commercial lines versus personal lines. To maximize pay in Portsmouth, agents should focus on building a vast book of business that can drive renewal commissions and consider the dynamic between captive and independent roles, which can significantly affect long-term financial outcomes.
More salary data for Portsmouth, VA:
Frequently Asked Questions
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Written by Jordan Lee, MBA
Career Analyst
Jordan has over 10 years of experience in the insurance industry. He specializes in property and casualty insurance. He has worked in both agency and corporate settings.
Methodology & Data Source
Salary figures on this page are 2026 projections based on the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey, May 2026 release. The BLS reported a median annual salary of $56,519 for insurance agentsin the Portsmouth metropolitan area. A 3.60% compound annual growth rate (CAGR), calculated from 6-year national BLS wage trends, was applied to project current 2026 compensation. Percentile ranges (P10–P90) represent the full salary distribution across experience levels and practice settings in this market.
Data Sources & Methodology
Salary data for Portsmouth is estimated from official BLS state-level occupational wage data (2025), adjusted for regional cost-of-living differences using BEA RPP (Regional Price Parities).
2026 figures are projected from 2025 BLS data using a compound annual growth rate (CAGR) of 3.60%, derived from historical BLS wage trends for insurance agents (SOC 41-3021).
Compiled and verified by Jordan Lee, MBA, a licensed insurance agent with 10+ years of clinical experience. · View source data at BLS.gov