Cheap Apartments for Rent in Albuquerque, NM from $400 (337 Rentals)

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

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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Tesota Four Hills
Rent Specials
$772 - $2,488
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$772 - $2,488
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1 to 3 Bedroom Apartments Available Now

Tesota Four Hills

301 Western Skies Dr SEAlbuquerque, NM 87123
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Comanche Wells
Rent Specials
$786 - $2,849
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$786 - $2,849
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Studio to 2 Bedroom Apartments Available Now

Comanche Wells

3400 Comanche Rd NEAlbuquerque, NM 87107
Corporate Housing
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  • Low Income

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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property at 401 14th St NW

$760 - $825

Studio Rentals

Available Now

401 14th St NW

AlbuquerqueNM87104
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Union 505
Rent Specials
$838 - $2,243
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$838 - $2,243
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Studio to 2 Bedroom Apartments Available Now

Union 505

801 Locust Pl NEAlbuquerque, NM 87102
Active Lifestyle
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  • 3D Tour

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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Tesota Midtown
Rent Specials
$857 - $1,642
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Total Monthly Price

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$857 - $1,642
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1 to 3 Bedroom Apartments Available Now

Tesota Midtown

200 Figueroa St NEAlbuquerque, NM 87123
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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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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: 04/17/2026

Current apartment rentals in the Albuquerque, NM area range in price from $500 to $5,442 with an overall median price of $2,130. The three Albuquerque neighborhoods with the lowest median rent pricing are La Mesa at $674, Sycamore at $825, and Silver Hill at $825. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Albuquerque Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
La Mesa$1,200$6747
Sycamore$1,200$8253
Silver Hill$1,225$8253
Southeast Heights$1,250$8005
Southeast Quadrant$1,250$69515
Merritt Acres$1,275$79542
Los Alamos$1,276$79533
University Heights$1,297$1,1007
Las Lomita$1,300$73019
Guadalupe Village$1,332$79526

Cheapest Available Albuquerque Apartments for Rent

 

The cheapest available apartment rental in Albuquerque, NM is a 1 Bed unit found at Diamond Elite Luxury Townhomes in the Southwest Quadrant neighborhood priced from $599. 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
Diamond Elite Luxury Townhomes1 Bed/1 Bath1BR,1BA$599
The Loop @9500x1 - 280Studio,1BA$645
White Oak Apartments1x11BR,1BA$716
Nova RidgeS1Studio,1BA$725
210 High St NE0 Beds, 1 BathsStudio,1BA$735
The Twelve 6011BR/1.0BA1BR,1BA$745
Nova Point Gated Community0BR/1.0BAStudio,1BA$750
Villa De San Felipe1x1D1BR,1BA$784
Comanche WellsS1Studio,1BA$786
Millennium FlatsUnit Type AStudio,1BA$790

Best Value Apartments for Rent in Albuquerque, NM

As of April 18, 2026 the best value apartment in the Albuquerque area is the $0.98 price per square foot Four Bedroom Two Bath Model at Aspen Ridge in the in the South San Pedro neighborhood starting from $1,190. The second greatest value Albuquerque apartment is the Two Bedroom - Fully Remodeled Model at Pinon Terrace starting at $1,245 with a $1.13 price per square foot in the Northeast Quadrant 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.
Aspen RidgeFour Bedroom Two Bath4BR,2BA$0.98
Pinon TerraceTwo Bedroom - Fully Remodeled2BR,1BA$1.13
Four Seasons2br apartment corner unit2BR,1BA$1.10
The Portals ApartmentsB12BR,1BA$1.09
Home @ Valencia2bd/1ba2BR,1BA$1.10
The Ridge2 Bedroom 1 Bathroom2BR,1BA$1.02
The Twelve 6012BR/1.0BA2BR,1BA$1.09
147 General Arnold St NE, Unit 4147 General Arnold St NE1BR,1BA$1.15
Tesota Four HillsB1R2BR,1BA$1.17
White Oak Apartments1x11BR,1BA$1.03

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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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How much rent can you afford?

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 $790.

What is the price of a cheap apartment in Albuquerque?

The cheapest apartment in Albuquerque is Diamond Elite Luxury Townhomes which is listed at $599, while the average apartment in Albuquerque costs $2,130.

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 4,856 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 $349 which is $1,781 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

decorative image for A Local Experts Guide To The Best Budget-Friendly Neighborhoods to Rent in Albuquerque article

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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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.