Portales, NM—88130
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Portales, NM
As of Oct '25, the median home price in Portales, NM is $139,000, with a year-over-year change of -1.4%. This indicates that home prices in Portales, NM are decreasing. According to Zillow, the 1-year price projection is -2.5%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $139,000 | -1.4% |
| Single Family | $139,000 | -1.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $98,000 | 1.0% |
3 Bed | $186,000 | 2.8% |
4 Bed | $226,000 | 1.8% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Portales, NM
As of July '25, Rentcast reports the average rent in Portales, NM is $929, with a year-over-year rent change of -0.1%. Per bedroom, the median rent as of July '25 in Portales, NM is 1-bedrooms: $641, 2-bedrooms: $866, 3-bedrooms: $1,170, 4-bedrooms: $1,680. The most common rental property sizes in Portales, NM are 3-bedroom and 2-bedroom, accounting for 37.2% and 34.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $895 | $929 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $600 | $641 |
| 2 Bed Rent | $800 | $866 |
| 3 Bed Rent | $1,150 | $1,170 |
| 4 Bed Rent | $1,600 | $1,680 |
% of Rental Stock
Property Listings — Portales, NM
As of Oct '25, Realtor.com reports that the median days on market for a home in Portales, NM is 78. This is a decrease of 0.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 20.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $210,000 | 2.0% |
Listing Count | 92 | 14.0% |
| Listings as % of Homes | 0.5% | 14.0% |
Days on Market | 78 | 0.0% |
Demographics — Portales, NM
As of the latest ACS Survey released in 2023, Portales, NM has a population of 17,900, which has remained stable by 1.0% over the past 5 years. Portales, NM is a popular place for families, as children make up 25.6% of the population. The area has a poorly educated workforce, with 21.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 17,900 | 1.0% |
% Under 18 | 25.6% | 5.3% |
% Seniors | 14.0% | 8.5% |
% WFH | 4.0% | 166.7% |
% w/ College Degree | 21.7% | -14.9% |
As of the latest ACS Survey released in 2023, Portales, NM is a predominantly white area, with 47.7% of the population identifying as white. The white population has shrunk by 6.1% in the last 5 years. The second most common race or ethnicity in Portales, NM is hispanic, making up 45.3% of the population. Foreign-born residents account for 6.2% of the population in Portales, NM, and this percentage has decreased by 44.1% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 47.7% | -6.1% |
% Black | 1.1% | -62.1% |
% Hispanic | 45.3% | 5.3% |
% Asian | 0.5% | -16.7% |
% Foreign Born | 6.2% | -44.1% |
Mortgage and Risk — Portales, NM
According to HUD data as of 2023, there were 194 mortgage originations in Portales, NM, of which 44.0% of loans were conventional mortgages. The average loan-to-value was 79.0%, with 55.0% above 90% LTV (very high). This implies large mortgage risk in Portales, NM. Investor activity is low, as 2.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 194 |
% Conventional Loans | 44.0% |
% Government Loans | 56.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Portales, NM
Portales, NM lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 118 |
Total Units Section 8 | 118 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 59.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $120 | $600 | $720 |
| 2 Bedroom | $130 | $800 | $930 |
| 3 Bedroom | $160 | $1,150 | $1,310 |
| 4 Bedroom | -$20 | $1,600 | $1,580 |
Affordability — Portales, NM
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.6 |
| Median Home Price | $139,000 |
| Median Household Income | $52,400 |