Market Overview
Home Prices in Portales, NM
The median home value in Portales, NM is $136,565 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 0.1% compared to a year ago and down 2% from two years prior.
Compared to the U.S. national median of $410,000, homes in Portales are priced67% below average. Portales is part of the Portales, NM metro area.
Over the past five years, Portales home values have risen by approximately4.4%, reflecting modest growth in this market.
Price History
Portales Home Price Trend
2020
$131,442
$131K
—
2021
$130,771
$131K
-0.5%
2022
$133,855
$134K
+2.4%
2023
$136,723
$137K
+2.1%
2024
$139,540
$140K
+2.1%
2025
$136,725
$137K
-2.0%
2026
$136,565
$137K
-0.1%
City Comparison
Portales vs. National Median
🏠 Portales
$136,565
National Median
$410,000
At $136,565, homes in Portales cost 67% below the national median of $410,000. This makes Portales a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Portales?
20% Down Payment
$27,313
on $136,565
Monthly P&I
$712/mo
30-yr @ 6.8%
Total Monthly Est.
~$904/mo
incl. taxes & insurance
Income Needed
$36,160
gross annual (30% rule)
10% Down Option
$13,657
+ PMI applies
Loan Amount (20% dn)
$109,252
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Portales, NM?
The median home value in Portales is $136,565 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 0.1% year-over-year.
How much have home prices changed in Portales?
Over the past year, home values in Portales have decreased by 0.1%. Over five years, prices have risen approximately 4.4%.
How much do I need to earn to buy a home in Portales?
To comfortably afford the median home price of $136,565 with a 20% down payment ($27,313) at today's rates (6.8%), you'd need a gross annual income of approximately $36,160. This assumes keeping total housing costs at or below 30% of gross income.
How does Portales compare to the national average home price?
The national median home value is approximately $410,000. At $136,565, homes in Portales are 67% below the national average.
What metro area is Portales part of?
Portales is part of the Portales, NM metropolitan area. Home prices and market conditions can vary across the broader metro region.