88130, Portales, NM

The 88130 zip code of Portales, NM is located in the southwestern corner of the state and includes the city of Portales as well as a number of rural communities. As of 2016, the median home value in this zip code was $101,000. This is significantly higher than the statewide median home value of $157,500 and indicates that there are a number of homes in this area that are worth a significant amount more than average.

One factor that may contribute to this high home value is the fact that Portales is a relatively affluent community. According to data from NeighborhoodScout, as of 2016, approximately 60% of residents in this zip code had incomes above $75,000 per year. Additionally, nearly one-third of households here have incomes above $100,000 annually. These high levels of income likely translate into high levels of wealth and asset ownership, which can lead to increased demand for property in areas like 88130.

Another potential contributor to the high home values in 88130 is the fact that there are a number of luxury homes available here. In 2016, NeighborhoodScout found that approximately 10%of homes in this zip code were classified as “luxury” dwellings – meaning they had prices above $300,000 per year. Given that many people who live in 88130 are able to afford luxury properties – and those properties tend to be more expensive than average – it's likely that some homeowners have been able to increase their home values by investing in real estate here.