New Mexico, known as the "Land of Enchantment," boasts a rich cultural heritage, stunning desert landscapes, and thriving arts and outdoor recreation. Learn about the state's fascinating history by visiting ancient Native American ruins, such as the remarkable Chaco Canyon and Aztec Ruins, or experience modern art museums, including the world-renowned Harwood Museum of Art and the Museum of International Folk Art. The state is also home to several prestigious universities, including New Mexico State University and the University of New Mexico.

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Rental Market Trends

Portales, NM

As of August 2025, Portales's rental market is competitive, with strong renter demand causing quick leasing times for well-priced units. Portales's average rent is 46.6% ($692) lower than the New Mexico average of $1,485 and 55.7% ($997) lower than the U.S. average of $1,790.

Average Rent

$793

Monthly ChangeMonth Over Month Change

4.1% ($34)

Yearly ChangeYear Over Year Change

0.3% ($2)

Avg. Days on MarketAverage Days on Market

Unit Type	Average Rent	Monthly ChangeMonth Over Month Change	Yearly ChangeYear Over Year Change
1 Bed	$709	12.4% ($78)	31.8% ($171)
2 Beds	$792	3.2% ($26)	5.9% ($44)
3 Beds	$978	3.5% ($35)	6.9% ($63)

Rental market trends are calculated using listing data from RentalSource.

Frequently Asked Questions

Portales Rental Market FAQs

Explore rental prices, market trends, and availability in Portales, NM.

What is the average rent in Portales, NM?

The average rent in Portales, NM is $793 per month.

What is the rental price range for houses in Portales, NM?

Houses in Portales typically rent for between $600 and $1,271 per month, with an average of $793 per month.

What is the average rent for different bedroom sizes in Portales, NM?

In Portales, the average rent for a 1-bedroom house is $709 per month, for a 2-bedroom house, $792 per month, and a 3-bedroom house is $978 per month.

How do rent prices in Portales, NM compare with the national average?

The average rent in Portales is 55.7% ($997) lower than the national average of $1,790 per month.

How have rent prices in Portales, NM changed recently?

The average rent in Portales has decreased by 4.1% ($34) in the last month and increased by 0.3% ($2) over the past year.

How competitive is the rental market in Portales, NM?

The rental market in Portales, NM, is currently competitive, with strong renter demand causing quick leasing times for well-priced units.

How long do rentals stay on the market in Portales, NM?

In Portales, NM, the average rental stays on the market for approximately 30 days. While most properties are rented within this timeframe, factors like seasonality, demand, and property type can affect how quickly a rental leases.

How many rental properties are available in Portales, NM?

There are currently 38 rental properties available in Portales, NM.

Can I afford to rent a house in Portales, NM?

Based on the current averages, a household would need an annual income of $31,680 to comfortably afford a 2-bedroom house in Portales.