Cheap Apartments for Rent in Albuquerque, NM from $400 (347 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
$725 - $2,435
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$725 - $2,435
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Studio to 3 Bedroom Apartments Available Now

Desert Creek Apartments

4300 Pan American Fwy NEAlbuquerque, NM 87107
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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
$790 - $2,662
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$790 - $2,662
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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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Union 505
Rent Specials
$791 - $2,755
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$791 - $2,755
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Studio to 2 Bedroom Apartments Available Now

Union 505

801 Locust Pl NEAlbuquerque, NM 87102
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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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Comanche Wells
Rent Specials
$810 - $2,789
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$810 - $2,789
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Studio to 2 Bedroom Apartments Available Now

Comanche Wells

3400 Comanche Rd NEAlbuquerque, NM 87107
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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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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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The French Quarter
Rent Specials
$850 - $995
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$850 - $995
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$850 - $995
1 Bedroom Apartments Available Now

The French Quarter

1101-1121 Palomas Dr SEAlbuquerque, NM 87108
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Tesota Midtown
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$857 - $1,607
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$857 - $1,607
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1 to 3 Bedroom Apartments Available Now

Tesota Midtown

200 Figueroa St NEAlbuquerque, NM 87123
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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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Albuquerque, NM Local Guide

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Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Albuquerque, NM

Pricing Updated: 07/16/2026

Current apartment rentals in the Albuquerque, NM area range in price from $500 to $3,930 with an overall median price of $2,075. The three Albuquerque neighborhoods with the lowest median rent pricing are La Mesa at $724, Southeast Heights at $790, and University Heights at $999. 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$1,050$72416
Southeast Heights$1,112$7906
University Heights$1,250$9999
Avalon$1,300$7852
Skyview West$1,300$7852
Laurelwoods$1,311$78517
Los Volcanes$1,311$78513
Parkway$1,311$78516
Tierra Oeste$1,311$78516
Fair Heights$1,362$716158

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. Home @ Valencia in the South San Pedro 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
Home @ Valencia1bd/1ba1BR,1BA$695
332 Grove St SE1 Beds, 1 Baths1BR,1BA$695
Diamond Elite Luxury TownhomesStudio/1 BathStudio,1BA$699
White Oak ApartmentsCasa Del Rey Oeste1BR,1BA$699
White Oak Apartments1x11BR,1BA$716
Encino Terrace SeniorStudioStudio,1BA$720
Cinnamon Tree ApartmentsStudioStudio,1BA$724
Desert Creek ApartmentsSRO-Sleeping room onlyStudio,1BA$725
Nova RidgeS1Studio,1BA$725

Best Value Apartments for Rent in Albuquerque, NM

As of July 16, 2026 the best value apartment in the Albuquerque area is the $1.08 price per square foot Four Bedroom Two Bath Model at Aspen Ridge in the in the South San Pedro neighborhood starting from $1,311. 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$1.08
Pinon TerraceTwo Bedroom - Fully Remodeled2BR,1BA$1.13
Four Seasons2br apartment corner unit2BR,1BA$1.15
433-437 Louisiana Blvd SE2 Beds, 1 Baths2BR,1BA$0.79
Villa HermosaThe Taos2BR,2BA$1.17
The Twelve 6012BR/1.0BA2BR,1BA$1.06
Cloudview Terrace2Bd/1Bath LOFT2BR,1BA$1.08
The Portals ApartmentsA11BR,1BA$1.14
White Oak Apartments1x11BR,1BA$1.03
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.

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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 $725.

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 $2,075.

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 4,884 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 $309 which is $1,766 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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A Local Expert's 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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The Students Guide to Albuquerque: Top Neighborhoods That Put CNM and UNM Life Within Reach

Written by: Esther Lombardi

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

Written by: Esther Lombardi

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

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I still recollect my first morning commute in Albuquerque.

Articles, How-To's, and Tips

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

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Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.