Rents are 3% above what Portales's 10-year trend predicts — running hotter than its own history.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,008 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
Rent in Portales is at its highest level since Zillow's records here began in May 2023.
Rent in Portales changed +6.9% over the year to September 2026. Across the 12 New Mexico cities Zillow tracks, the typical change was +4.1%.
Rent has risen 3 months in a row, and rose in 7 of the last 12 months.
30% of the median household income ($50,555) is $1,264 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($930); a 3-bedroom is $1,310.
From Zillow's monthly rent index (ZORI) for Portales. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Portales, NM is roughly split between renters and owners, skews toward younger working-age adults, has a median income below the national average, 25.4% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Portales, NM has changed in 5 years
Household income in the area moved from $44,101 to $50,555 across the same window, up 14.6% versus 2021. Headcount in the area went from 12,151 to 11,968 between 2021 and 2024, a 1.5% change. About 52.4% of households rent today, against 49.7% in 2021.
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Can you afford rent in Portales on your salary?
At $1,008/mo, how Portales rent compares to typical pay (30% rule).
Portales rent by bedroom count
Median rent for each apartment size in Portales. Click any size for full breakdown.
Tips for renters in Portales
Last updated: October 17, 2026
The median rent in Portales is $1,008/mo as of October 2026. A studio apartment averages $680/mo while a 2-bedroom runs $930/mo. One-bedroom apartments average $720/mo and 3-bedroom units go for $1,310/mo.
At 24% of local median household income ($50,555/yr), Portales ranks as affordable compared to the national benchmark of 30%. Rents have increased 6.9% over the past year.
Frequently asked questions
How much income do you need to rent in Portales?
Is rent going up or down in Portales?
How does Portales rent compare to other cities in New Mexico?
At $1,008/mo, rent takes ~24% of Portales's median household income ($50,555/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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