salaryRent is lower than in 79% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards. Commutes are short, about 12.3 minutes.
How much money do I need?
To rent here comfortably, you should earn about $45,680 a year. That is $22 an hour at a full-time job.
Is rent cheaper than other New Mexico cities?
Yes. Rent here is cheaper than in most of New Mexico. It is number 19 of 44 cities from cheapest to most expensive.
How much do households earn in Portales?
Share of households by yearly income. 10.7% of households earn $100,000 or more.
Rent by apartment size in Portales
| Size | Portales | U.S. average |
|---|---|---|
| 1 bedroom | $621 | $1,324 |
| 2 bedrooms | $907 | $1,509 |
| 3 bedrooms | $1,354 | $1,698 |
| 4 bedrooms | $1,493 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Portales overall?
Everyday prices in New Mexico overall are 8% below the U.S. average (index 92.2, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Portales, so the New Mexico figure is shown.
Taxes and bills in Portales
Life in Portales
Is it cheaper to rent or buy in Portales?
Buying is cheaper month to month: about $216 a month less than renting.
Owning assumes a typical $133,400 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $13,340 for the down payment.
Frequently asked questions
What is the average rent in Portales, NM?
Renting in Portales costs a median of about $1,142 a month in 2026, including utilities. The New Mexico median is $1,181.
How much do I need to make to live in Portales?
To keep rent under 30% of income, you need about $45,680 a year, or $22 an hour at a full-time job.
Is Portales cheap or expensive?
Portales is rated OK: rent takes 25.1% of the typical household income of $54,524. It ranks 19th cheapest of 44 New Mexico cities we track.
How much are property taxes in Portales?
The median homeowner in Portales pays $728 a year in property taxes, about 0.55% of the median home value.
Is Portales more expensive than the national average?
Overall prices in New Mexico are 8% below the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Portales?
The median home value in Portales is $133,400, about 2.4 times the typical yearly household income.
11,968 people live in Portales. Numbers are typical (middle) values.