diff --git a/docs/release-notes/version-3.0.md b/docs/release-notes/version-3.0.md
index f73d43c9e..c68b9a493 100644
--- a/docs/release-notes/version-3.0.md
+++ b/docs/release-notes/version-3.0.md
@@ -20,7 +20,8 @@
 * [#7851](https://github.com/netbox-community/netbox/issues/7851) - Add missing cluster name filter for virtual machines
 * [#7857](https://github.com/netbox-community/netbox/issues/7857) - Fix ordering IP addresses by assignment status
 * [#7859](https://github.com/netbox-community/netbox/issues/7859) - Fix styling of form widgets under cable connection views
-* [#7864](https://github.com/netbox-community/netbox/issues/7864) - `power_port` can be null when creating power outlets
+* [#7864](https://github.com/netbox-community/netbox/issues/7864) - `power_port` can be null when creating power outlets via REST API
+* [#7865](https://github.com/netbox-community/netbox/issues/7865) - REST API should support null values for console port speeds
 
 ---
 
diff --git a/netbox/dcim/api/serializers.py b/netbox/dcim/api/serializers.py
index 0872cce6d..a731860fe 100644
--- a/netbox/dcim/api/serializers.py
+++ b/netbox/dcim/api/serializers.py
@@ -539,7 +539,7 @@ class ConsoleServerPortSerializer(PrimaryModelSerializer, CableTerminationSerial
     )
     speed = ChoiceField(
         choices=ConsolePortSpeedChoices,
-        allow_blank=True,
+        allow_null=True,
         required=False
     )
     cable = NestedCableSerializer(read_only=True)
@@ -563,7 +563,7 @@ class ConsolePortSerializer(PrimaryModelSerializer, CableTerminationSerializer,
     )
     speed = ChoiceField(
         choices=ConsolePortSpeedChoices,
-        allow_blank=True,
+        allow_null=True,
         required=False
     )
     cable = NestedCableSerializer(read_only=True)
diff --git a/netbox/dcim/tests/test_api.py b/netbox/dcim/tests/test_api.py
index 181d659d2..f6885806a 100644
--- a/netbox/dcim/tests/test_api.py
+++ b/netbox/dcim/tests/test_api.py
@@ -1042,14 +1042,17 @@ class ConsolePortTest(Mixins.ComponentTraceMixin, APIViewTestCases.APIViewTestCa
             {
                 'device': device.pk,
                 'name': 'Console Port 4',
+                'speed': 9600,
             },
             {
                 'device': device.pk,
                 'name': 'Console Port 5',
+                'speed': 115200,
             },
             {
                 'device': device.pk,
                 'name': 'Console Port 6',
+                'speed': None,
             },
         ]
 
@@ -1081,14 +1084,17 @@ class ConsoleServerPortTest(Mixins.ComponentTraceMixin, APIViewTestCases.APIView
             {
                 'device': device.pk,
                 'name': 'Console Server Port 4',
+                'speed': 9600,
             },
             {
                 'device': device.pk,
                 'name': 'Console Server Port 5',
+                'speed': 115200,
             },
             {
                 'device': device.pk,
                 'name': 'Console Server Port 6',
+                'speed': None,
             },
         ]