Cheap Apartments for Rent in Albuquerque, NM from $400 (330 Rentals)

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

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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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

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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: 07/02/2025

Current apartment rentals in the Albuquerque, NM area range in price from $578 to $8,500 with an overall median price of $2,310. The three Albuquerque neighborhoods with the lowest median rent pricing are Silver Hill at $750, La Mesa at $707, and Southeast Heights at $775. 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$985$7508
La Mesa$1,010$7074
Southeast Heights$1,110$7752
University Heights$1,200$7554
South San Pedro$1,300$64539
Westland North$1,331$79929
Trumbull Village$1,335$64513
Las Lomita$1,336$73042
Parkway$1,341$73042
Tierra Oeste$1,341$73042

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 $578. Brandywood Park - FREE Utilities in the South San Pedro neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $699. 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$578
Brandywood Park - FREE UtilitiesSailor's Studio - FREE UtilitiesStudio,1BA$699
The Villas @ UptownStudio UpgradeStudio,1BA$700
El Pueblo II Apartments1x11BR,1BA$716
Loop @9500x1 - 410Studio,1BA$725
Millennium Flats - Washer-Dryer IncludedStudioStudio,1BA$740
Silver Gardens Apartments1 Bedroom (50%)1BR,1BA$740
Home @ Valencia1bd/1ba1BR,1BA$750
760 On The BlvdStudio, 1 BathroomStudio,1BA$750

Best Value Apartments for Rent in Albuquerque, NM

As of July 02, 2025 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 2 bedroom 1 bathroom MKT Model at Via Apartments starting at $1,180 with a $1.18 price per square foot in the North Valley 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
Via Apartments2 bedroom 1 bathroom MKT2BR,1BA$1.18
Four Seasons2br apartment corner unit2BR,1BA$1.10
8309 Trumbull Ave SE, Unit B8309 Trumbull Ave SE2BR,1BA$1.06
200 Tennessee St NE, Unit 200 A200 Tennessee St NE2BR,1BA$1.13
420 Mesilla St SE, Unit A420 Mesilla St SE2BR,1BA$1.06
116 Dallas St SE, Unit C116 Dallas St SE2BR,1BA$1.20
Lomas Gardens1BR/1.0BA1BR,1BA$1.21
El Pueblo II Apartments1x11BR,1BA$1.03
528 Charleston St SE, Unit 4528 Charleston St SE1BR,1BA$1.23

Quick Rent Budget Calculator

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.

Albuquerque, NM
Population: 560,218

Ranked #32

in US Census Population by City

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Pet Friendly Lifestyle
Albuquerque, NM

Ranked #1

Among cities in New Mexico for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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

Explore Albuquerque, NM Rentals by Map

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See the most popular apartments and homes in Albuquerque, NM

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Getting Around Albuquerque, NM

Walk Score®

56 / 100

Somewhat Walkable

Some errands can be accomplished on foot

Bike Score®

65 / 100

Bikeable

Some bike infrastructure

Transit Score®

28 / 100

Some Transit

A few nearby public transportation options

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Albuquerque, NM Area Reviews

  • Parks
  • Entertainment
  • Local Vibes
  • Restaurants
  • Location
  • Traffic
  • Public Transportation
  • Outdoor Access
  • Cost of Living
  • Safety

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 $750.

What is the price of a cheap apartment in Albuquerque?

The cheapest apartment in Albuquerque is El Pueblo II Apartments which is listed at $716, while the average apartment in Albuquerque costs $2,310.

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 3,841 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 $426 which is $1,884 cheaper than the average rent for all rentals in Albuquerque.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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

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

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.