Lija Arustamova, 52, who is understood to be from Lithuania, was found in a house in the fishing village in the early hours of Saturday morning.
It is believed she had been living in Portavogie for some time.
The man is due to appear at Downpatrick Magistrates' Court on Monday.
A 25-year-old man has been charged with murder following the death of a woman in Portavogie, County Down.