Cheap Apartments for Rent in Albuquerque, NM from $400 (323 Rentals)

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

property at 208 High St NE

208 High St NE

AlbuquerqueNM87102
Showing Results 1-50, Page 1 of 7

Albuquerque, NM Local Guide

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Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Albuquerque, NM

Pricing Updated: 10/02/2025

Current apartment rentals in the Albuquerque, NM area range in price from $559 to $4,121 with an overall median price of $2,023. The three Albuquerque neighborhoods with the lowest median rent pricing are Trumbull Village at $600, La Mesa at $674, and South San Pedro at $699. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Albuquerque Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Trumbull Village$975$6008
La Mesa$985$67410
South San Pedro$1,081$69973
University Heights$1,150$9754
Rose View Acres$1,250$74014
Southeast Heights$1,250$6006
Midtown$1,338$61889
Midtown Albuquerque$1,338$61885
Las Lomita$1,341$73034
Laurelwoods$1,341$73035

Cheapest Available Albuquerque Apartments for Rent

 

The cheapest available apartment rental in Albuquerque, NM is a 1 Bed unit found at 509 Girard Terrace Apartments in the Southeast 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 $695. Here is today’s list of the most affordable Albuquerque apartments for rent:

Apartment ListingModel NameBed/BathPriced From
509 Girard Terrace Apartments509 Girard Blvd SE K1BR,1BA$559
The Loop @9500x1 - Deluxe - 280Studio,1BA$695
FREE UTILITIES!! GREAT VIBES!!Sailor Interior UnitsStudio,1BA$699
Home @ Valencia1bd/1ba1BR,1BA$700
The Villas @ UptownStudio ClassicStudio,1BA$700
Desert Creek ApartmentsThe SonoranStudio,1BA$704
White Oak Apartments1x11BR,1BA$716
Encanto Lofts ApartmentsYucca - StudioStudio,1BA$725

Best Value Apartments for Rent in Albuquerque, NM

As of October 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 Casita Model at Gracey's Nation - Truman Community starting at $1,400 with a $1.17 price per square foot in the Netherwood Park 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
Gracey's Nation - Truman CommunityCasita1BR,1BA$1.17
Four Seasons2br apartment corner unit2BR,1BA$1.10
Theta ApartmentsKaloDuo2BR,2BA$1.19
200 Tennessee St NE, Unit 200 A200 Tennessee St NE2BR,1BA$1.13
328 Rhode Island (New) St NE2 bed/ 1 bath2BR,1BA$1.19
Lomas Gardens2BR/1.0BA2BR,1BA$1.18
147 General Arnold St NE, Unit 4147 General Arnold St NE1BR,1BA$1.15
White Oak Apartments1x11BR,1BA$1.03
509 Girard Terrace Apartments509 Girard Blvd SE K1BR,1BA$0.86

Quick Rent Budget Calculator

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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 $725.

What is the price of a cheap apartment in Albuquerque?

The cheapest apartment in Albuquerque is 509 Girard Terrace Apartments which is listed at $559, while the average apartment in Albuquerque costs $2,023.

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 3,274 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 $358 which is $1,665 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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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

decorative image for The Rental Move-In Inspection Checklist: A Guide for Renters article

The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

decorative image for Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between article

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

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.