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City Report · NM

Portales

Pop. 11,968·15th most expensive in New Mexico·Portales rents are up 7.4% over the past year
Median rent (all units)
$975/mo
Year-over-Year
+7.4%
Month-over-Month
+13.1%
vs US Median
-$987
Rising (Monthly)
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Most AffordableMost Expensive
Portales · $975
More affordable than 98% of US cities · National median $1,962/mo
Rent Reality Score
48/100
Fairly priced
OverheatedFairGreat value

Rents are right about where Portales's 10-year trend predicts.

Actual rent
$975/mo
Expected by trend
$965/mo
The Rent Reality Score compares today's median rent to where Portales's own long-run trajectory projects it should be. See the full rankings →
Medians by bedroom

Rent by unit size

Studio
$680
1 BR
$720
2 BR
$930
3 BR
$1,310
4 BR+
$1,580
Fair Market Rent (HUD)
$930/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $975 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 →

Rent trends

12-month history

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Last updated: August 17, 2026

Annual cost
$11,700/yr
At $975/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 7.4% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+7.4% YoY, +13.1% MoM), not inventory.
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Demographics

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.

Population
11,968
Median income
$50,555
Median age
27.1
Renters
52.4%
Age distribution
29%
31.7%
19.7%
12.2%
Under 1829%
18–3431.7%
35–5419.7%
55–647.4%
65+12.2%
Gender
50.6%
49.4%
Male50.6%
Female49.4%
Race & ethnicity
60.2%
49.8%
White60.2%
Black0.9%
Hispanic49.8%
Asian0.9%
Education (25+)
13.4%
24.1%
37.1%
25.4%
No HS diploma13.4%
HS diploma24.1%
Some college37.1%
Bachelor's+25.4%
Housing tenure
47.6%
52.4%
Owner47.6%
Renter52.4%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Portales, NM has changed in 5 years

Income
$44,101 → $50,555
up 14.6%
Population
12,151 → 11,968
down 1.5%
Renter share
49.7% → 52.4%
+2.7 pts
Bachelor's+
25.5% → 25.4%
-0.1 pts

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.

Community

Discussions about Portales

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View Portales rent history (2015–2026) →
Salary vs rent

Can you afford rent in Portales on your salary?

At $975/mo, how Portales rent compares to typical pay (30% rule).

By apartment size

Portales rent by bedroom count

Median rent for each apartment size in Portales. Click any size for full breakdown.

Local insights

Tips for renters in Portales

About renting in Portales, NM

Last updated: August 17, 2026

The median rent in Portales is $975/mo as of August 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 23% of local median household income ($50,555/yr), Portales ranks as affordable compared to the national benchmark of 30%. Rents have increased 7.4% over the past year.

FAQ

Frequently asked questions

Is Portales an affordable city for renters?

Portales is considered very affordable for renters. At $975/mo, rent takes approximately 23% of the local median household income ($50,555/yr). The standard benchmark is 30%. Portales falls comfortably within that range.

How much income do you need to rent in Portales?

To keep rent at or below 30% of gross income, you would need to earn at least $39,000/year (~$19/hour full-time) to afford the median rent of $975/mo in Portales. The local median household income is $50,555/yr, meaning the typical Portales household meets that threshold.

Is rent going up or down in Portales?

Rent in Portales has increased 7.4% over the past year as of August 2026, putting upward pressure on renter budgets.

How does Portales rent compare to other cities in New Mexico?

Portales is one of the more affordable cities in New Mexico for rent, ranking #15 out of 15 tracked cities at $975/mo.

What percentage of Portales residents rent vs. own?

According to Census data, approximately 52.4% of Portales households are renters, while 47.6% are owner-occupied. With a majority renter population, Portales has a strong rental market.

How does Portales rent compare to the national average?

Portales's median rent of $975/mo is $987 (50%) below the US national median of $1,962/mo. Within New Mexico, it ranks #15 out of 15 tracked cities.
Income Affordability
23%
VERY AFFORDABLE

At $975/mo, rent takes ~23% of Portales's median household income ($50,555/yr). The standard benchmark is 30%.

Portales 23%Benchmark 30%
State income tax1.7–5.9%
Run the Portales affordability calculator →
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Neighborhoods

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Schools nearby

Public schools near Portales, NM

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