Cheap Apartments for Rent in Albuquerque, NM from $500 (437 Rentals)

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

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Desert Creek Apartments
Rent Specials
$718 - $2,808
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$718 - $2,808
Total Monthly Price
$718 - $2,808
Studio to 3 Bedroom Apartments Available Now

Desert Creek Apartments

4300 Pan American Fwy NEAlbuquerque, NM 87107
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Your Guide to the Best Neighborhoods to Rent Near Albuquerque’s Top Employers

Moving to Albuquerque? Find the best neighborhoods near Sandia Labs, Presbyterian Healthcare Services, and UNM. Cut your commute, boost your quality of life, and find your perfect apartment or rental home.

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Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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Albuquerque Uncovered: Your Local Expert's Guide to the High Desert City

Find your perfect spot in ABQ. Get a local's breakdown of Albuquerque neighborhoods like Nob Hill and Downtown, plus tips on navigating the city’s unique charm and high-desert lifestyle.

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Union 505
Rent Specials
$821 - $1,905
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$821 - $1,905
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Studio to 2 Bedroom Apartments Available Now

Union 505

801 Locust Pl NEAlbuquerque, NM 87102
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Tesota Four Hills
Rent Specials
$831 - $2,572
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$831 - $2,572
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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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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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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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Albuquerque, NM Local Guide

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Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Albuquerque, NM

Pricing Updated: 08/31/2026

Current apartment rentals in the Albuquerque, NM area range in price from $500 to $4,419 with an overall median price of $1,364. The three Albuquerque neighborhoods with the lowest median rent pricing are Silver Hill at $825, Vecinos Del Bosque at $875, and EDo at $900. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Albuquerque Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Silver Hill$825$8006
Vecinos Del Bosque$875$8751
EDo$900$7757
Trumbull Village$912$64538
Avalon$950$7851
La Mesa$950$70018
Outer Albuquerque Metro$950$9501
Skyview West$950$7003
South San Pedro$953$50066
Siesta Hills$970$500113

Cheapest Available Albuquerque Apartments for Rent

 

The cheapest available apartment rental in Albuquerque, NM is a Studio unit found at The Loop at 950 in the South San Pedro neighborhood priced from $645. 501 Texas Street NE in the Towne Park neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $695. Here is today’s list of the most affordable Albuquerque apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Loop at 9500x1 - 280Studio,1BA$645
501 Texas Street NE1BR/1.0BA1BR,1BA$695
332 Grove St SE1 Beds, 1 Baths1BR,1BA$695
Diamond Elite Luxury TownhomesStudio/1 BathStudio,1BA$699
White Oak Apartments1x11BR,1BA$716
Desert Creek ApartmentsSRO-Sleeping room onlyStudio,1BA$718
Nova RidgeS1Studio,1BA$725
Rock CreekStudioStudio,1BA$750
Central Apartments (4223)Large Studio/1ba - 4223 CentralStudio,1BA$765
Madeira Flats- Utilities Included!STUStudio,1BA$775

Best Value Apartments for Rent in Albuquerque, NM

As of August 31, 2026 the best value apartment in the Albuquerque area is the $0.88 price per square foot 1 Beds, 1 Baths Model at 521-525 Cedar St SE in the in the Southeast Quadrant neighborhood starting from $945. The second greatest value Albuquerque apartment is the 2br apartment corner unit Model at Four Seasons starting at $1,150 with a $1.15 price per square foot in the Southeast 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.
521-525 Cedar St SE1 Beds, 1 Baths1BR,1BA$0.88
Four Seasons2br apartment corner unit2BR,1BA$1.15
La Cantera Senior Apartments2x12BR,1BA$1.21
919-923 Alvarado2BR/1.0BA2BR,1BA$1.13
Theta ApartmentsKaloDuo2BR,2BA$1.18
Aspen RidgeTwo Bedroom Two Bath2BR,2BA$1.20
The Twelve 6012BR/1.0BA2BR,1BA$1.06
White Oak Apartments1x11BR,1BA$1.03
Tennessee Street2 Beds, 1 Baths2BR,1BA$1.19
332 Grove St SE1 Beds, 1 Baths1BR,1BA$1.16

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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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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 $775.

What is the price of a cheap apartment in Albuquerque?

The cheapest apartment in Albuquerque is 501 Texas Street NE which is listed at $695, while the average apartment in Albuquerque costs $1,364.

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 2,601 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 $282 which is $1,082 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.

Helpful Local Expert Guides

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Your Guide to the Best Neighborhoods to Rent Near Albuquerques Top Employers

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Hello from Albuquerque, New Mexico! I’m Esther, your ApartmentHomeLiving.com Local Expert for Albuquerque, and I’m here to give you the inside scoop on this unique city.

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There’s more to Albuquerque than just the breathtaking landscapes and tasty green chilies. As both a student and a parent, I see Albuquerque as a learning hub that nurtures curiosity and encourages growth and enrichment.

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

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