506 E 1st St
506 E 1st St,
Portales, NM 88130
3 Beds | $675
Rental Market Trends in Portales, NM
Updated July 2026
The average rent in Portales, NM is $594/month.
Rent in Portales is 64% lower than the national average rent of $1,663/month, making this one of the less expensive cities statewide.
$594/month
Average Rent
550 Sq Ft
Average Size
+1%
Change / Year
20
Available Apartments
Portales rent varies by unit size and layout:
- Studio apartments in Portales average per month.
- One-bedroom apartments in Portales average $594 per month.
- Two-bedroom apartments in Portales average $1,209 per month.
- Three-bedroom apartments in Portales average $1,266 or more per month.
Average Rent by Home Type
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
How much has average rent changed in Portales, NM?
In the past year, rent has increased by 1%, which averages out to $6 more per month.
Market Trends Over Time
July 2026
2025
2026
Rent Ranges in Portales, NM
July 2026
Below $701
Most rental prices fall within this range
Percentage*
Rent Range
33%
Below $700/month
33%
$700 - $1,000/month
33%
$1,001 - $1,500/month
0%
$1,501 - $2,000/month
0%
Above $2,000/month
What salary do I need to live comfortably in Portales, NM?
Because the average rent in Portales is $594, you’ll want to make about $1,980 per month or $23,760 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Portales, NM compare to other nearby cities and neighborhoods?
Use the tool below to compare Portales, NM to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
View the Portales Area GuideCompare Rent Trends Nearby
Get a clearer picture of the area by viewing rent trends in nearby cities.
Apartment Communities in Portales We Think You'll Love
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Frequently Asked Questions
What is the average rent in Portales?
The average rent in Portales is $594 per month, which is 64.3% lower than the national average of $1,663.
What is the average rent for a house in Portales?
The average rent for a house in Portales, NM is $1,333 per month.
Are rents going up or down in Portales?
Rents in Portales, NM are increasing, with prices up 1.0% year-over-year and $6 more per month.
What rent range is most common in Portales?
In Portales, NM, 33% of apartments fall below $700/month, though prices may vary depending on location and other factors.
Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in June 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.
* Percentages may not total 100 due to rounding.