Cheap Apartments for Rent in Albuquerque, NM from $400 (338 Rentals)

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Search the lowest-cost Apartments available for rent right now in Albuquerque.

The Student's Guide to Albuquerque: Top Neighborhoods That Put CNM and UNM Life Within Reach

Find your perfect place in ABQ! Explore the best neighborhoods near CNM and UNM that support a vibrant student life, from study spots to family-friendly resources.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Check Out Albuquerque’s Best Affordable Neighborhoods

Learn about Albuquerque and the best places to live with original content written by our Local Expert Esther Lombardi

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Albuquerque, NM Local Guide

Photo of Justin Habersaat - Editing Staff
Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Albuquerque, NM

Pricing Updated: 01/07/2026

Current apartment rentals in the Albuquerque, NM area range in price from $559 to $4,121 with an overall median price of $2,115. The three Albuquerque neighborhoods with the lowest median rent pricing are Southeast Heights at $745, Silver Hill at $775, and Trumbull Village at $674. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Albuquerque Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Southeast Heights$745$7451
Silver Hill$825$7753
Trumbull Village$900$6747
La Mesa$950$6747
Executive Hills$1,303$73071
Four Hills Village$1,303$73068
Juan Tabo Hills$1,303$73069
Juan Tabo Hills West$1,303$73074
Tijeras Arroyo$1,303$73069
Willow Wood$1,303$73075

Cheapest Available Albuquerque Apartments for Rent

 

The cheapest available apartment rental in Albuquerque, NM is a Studio unit found at Desert Creek Apartments in the Northwest Quadrant neighborhood priced from $559. The Loop @950 in the South San Pedro neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $645. Here is today’s list of the most affordable Albuquerque apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Desert Creek ApartmentsSRO-Sleeping room onlyStudio,1BA$559
The Loop @9500x1 - 280Studio,1BA$645
Home @ Valencia1bd/1ba1BR,1BA$695
FREE UTILITIES!! GREAT VIBES!!Sailor Interior UnitsStudio,1BA$699
Nova Peak0BR/1.0BAStudio,1BA$700
White Oak Apartments1x11BR,1BA$716
Encanto Lofts ApartmentsYucca - StudioStudio,1BA$725
Silver Gardens Apartments1 Bedroom (50%)1BR,1BA$740
Madeira CourtStudioStudio,1BA$749

Best Value Apartments for Rent in Albuquerque, NM

As of January 07, 2026 the best value apartment in the Albuquerque area is the $1.00 price per square foot Two Bedroom One Bath Model at Taylor Ridge Apartments in the in the Southwest Quadrant neighborhood starting from $1,200. The second greatest value Albuquerque apartment is the 3 Bedroom 2 Bathroom Model at The Ridge starting at $1,330 with a $1.18 price per square foot in the South Los Altos neighborhood. Here is today’s list of the best values for Albuquerque apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Taylor Ridge ApartmentsTwo Bedroom One Bath2BR,1BA$1.00
The Ridge3 Bedroom 2 Bathroom3BR,2BA$1.18
Four Seasons2br apartment corner unit2BR,1BA$1.10
Pine Lane ApartmentsKaloDuo-Premium2BR,1BA$1.14
Theta ApartmentsKaloDuo-Premium2BR,2BA$1.17
Aspen RidgeTwo Bedroom Two Bath2BR,2BA$1.09
544 Chama St SE, Unit C544 Chama St SE2BR,1BA$1.11
147 General Arnold St NE, Unit 4147 General Arnold St NE1BR,1BA$1.15
Lomas Gardens1BR/1.0BA1BR,1BA$1.16
White Oak Apartments1x11BR,1BA$1.03

The Student's Guide to Albuquerque: Top Neighborhoods That Put CNM and UNM Life Within Reach

Find your perfect place in ABQ! Explore the best neighborhoods near CNM and UNM that support a vibrant student life, from study spots to family-friendly resources.

Read Article
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Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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Quick Rent Budget Calculator

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The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Albuquerque Overview

Boasting its status as the most populous city in all of New Mexico, Albuquerque is a historic city known for its universities, beautiful mountains, and for the gorgeous Rio Grande, which it straddles. This city has decades of growth under its belt, and only continues to draw in more settlers as time goes on. This metropolis is also incredibly diverse and continues to make its case as to why finding apartments in Albuquerque are such a great place to settle down.

Why live in Albuquerque, NM?

What makes Albuquerque special is the fact that it's situated right next to the Rio Grande and contains the Sandia Mountains. The city also boasts a large number of museums, galleries, as well as shops and other points of interest. The city has a very diverse population and puts on an annual major art event known as the New Mexico Arts and Crafts Fair. Foodies take heed: Albuquerque has a thriving restaurant scene, with many of its eats featuring in statewide lists of note. And those who love to exercise will be happy to hear that Albuquerque came out as the number one fittest city in the US. Living here is a breeze with many top options for Albuquerque apartments available to residents who move here.

Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Albuquerque, NM Rentals by Map

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Albuquerque, NM Area Reviews

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Frequently Asked Questions about Cheap Albuquerque Apartments

What is a cheap apartment in Albuquerque?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Albuquerque is under $749.

What is the price of a cheap apartment in Albuquerque?

The cheapest apartment in Albuquerque is Home @ Valencia which is listed at $695, while the average apartment in Albuquerque costs $2,115.

What types of apartments are the cheapest in Albuquerque?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 5,528 regular apartments in Albuquerque that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Albuquerque?

Cheap apartments in Albuquerque have an average cost of $335 which is $1,780 cheaper than the average rent for all rentals in Albuquerque.

Expert Rental Resources

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

Articles, How-To's, and Tips

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A Local Experts Guide To The Best Budget-Friendly Neighborhoods to Rent in Albuquerque

Written by: Esther Lombardi

Albuquerque, New Mexico, offers culture, diversity, and beautiful landscapes. Each neighborhood blends historic charm with nature, education, and entertainment.

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How to Make Your Apartment Holiday-Ready: Renter-Friendly Tips

Written by: Justin Habersaat

Getting your apartment ready for the holidays can be exciting but sometimes challenging in a smaller space. Here are some modern tips to keep things festive, safe, and inviting this season.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.