Porous polymer-based nanocomposites have been used for various applications due to their advantages, including multi-functionalities, easy and known manufacturability, and low cost. Understanding of their mechanical properties has become essential to expand the nanocomposites’ applications and efficiency, including service-life, resistance to different loads, and reliability. In this review paper, the focus is on the modeling of the mechanical properties of porous polymer-based nanocomposites, including the effects of loading rates, operational temperatures, and the material’s porosity. First, modeling of the elastic modulus and yield stress for glassy polymers and polymer reinforced by nanofillers are addressed. Then, modeling of porosity effects on these properties for polymers are reviewed, especially via the use of the well-known power-law approach linking porosity to elastic modulus and/or stress. Studies related to extending the mechanical modeling to account for porosity effects on the elastic modulus and yield stress of polymers and polymer-nanocomposites are discussed. Finally, a brief review of the implementation of this modeling into 3D computational methods to predict the large elastic-viscoplastic deformation response of glassy polymers is presented. In addition to the modeling part, the experimental techniques to measure the elastic modulus and the yield stress are discussed, and applications of polymers and polymer composites as membranes for water treatment and scaffolds for bone tissue engineering are addressed. Some modeling results and validation from different studies are presented as well.