Cheap Apartments for Rent in the Elder Homestead Neighborhood of Albuquerque, NM from $400 (113 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Elder Homestead area of 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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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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The French Quarter
Rent Specials
$915 - $995
Total Monthly Price

Total Monthly Price

Base Rent
$915 - $995
Total Monthly Price
$915 - $995
1 Bedroom Apartments Available Now

The French Quarter

1101-1121 Palomas Dr SEAlbuquerque, NM 87108
Corporate Housing
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Playa Del Sol
$925
Total Monthly Price

Total Monthly Price

Base Rent
$925
Total Monthly Price
$925
1 Bedroom Apartments Available Now

Playa Del Sol

444 Florida St SEAlbuquerque, NM 87108
Affordability
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  • Utilities Included

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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property at 720 Truman St NE

$1,300 - $1,900

Total Monthly Price

Total Monthly Price

Base Rent
$1,300 - $1,900
Total Monthly Price
$1,300 - $1,900

1 To 2 Bedroom Homes for Rent

Available Now

720 Truman St NE

AlbuquerqueNM87110

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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Elder Homestead, Albuquerque, NM Local Guide

Cheapest Available Elder Homestead Apartments for Rent

 

The cheapest available apartment rental in the Elder Homestead area of Albuquerque, NM is a Studio unit found at The Loop @950 priced from $645. Home @ Valencia has the second lowest priced unit, which is a 1 Bed apartment currently listed from $695. Here are the most affordable Elder Homestead apartments for rent in Albuquerque, NM:

Apartment ListingModel NameBed/BathPriced From
The Loop @9500x1 - 280Studio,1BA$645
Home @ Valencia1bd/1ba1BR,1BA$695
White Oak Apartments1x11BR,1BA$716
Nova Point Gated Community0BR/1.0BAStudio,1BA$750
Casa de Sierra Senior ApartmentsOne Bedroom1BR,1BA$799
The Portals ApartmentsA11BR,1BA$800
Continental Arms Apartments: Charming Gated CommunityStudioStudio,1BA$820
Somerset ParkStudioStudio,1BA$822
White Oak ApartmentsCasa Del Rey Oeste1BR,1BA$823
El Pueblo - Ultimate Urban LivingStudioStudio,1BA$840

Best Value Apartments for Rent in Elder Homestead, NM

As of May 11, 2026 the best value apartment in the Elder Homestead 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 Elder Homestead apartment is the 544 Chama St SE Model at 544 Chama St SE, Unit C starting at $850 with a $1.05 price per square foot in the Trumbull Village neighborhood. Here is today’s list of the best values for Elder Homestead apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Aspen RidgeFour Bedroom Two Bath4BR,2BA$0.98
544 Chama St SE, Unit C544 Chama St SE2BR,1BA$1.05
Madeira Flats- Utilities Included!ONE MONTH FREE! All UTILITIES INCLUDED!2BR,1BA$1.37
Villa Apartments1 Bed 1 Bath1BR,1BA$1.37
The Portals ApartmentsA11BR,1BA$1.14
White Oak Apartments1x11BR,1BA$1.03
Casa de Sierra Senior ApartmentsOne Bedroom1BR,1BA$1.15
The Lanai Apartments3rd Floor 1be/1bath1BR,1BA$1.38
Updated Studio, one bedroom and two bedroom units1BD1BR,1BA$1.38
Home @ Valencia1bd/1ba1BR,1BA$1.26

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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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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Best Local Schools in
Elder Homestead, Albuquerque, NM

School data provided by Great Schools

Lifestyle Ratings

ApartmentHomeLiving brings you comprehensive Lifestyle Ratings of rentals in cities across the United States, including Albuquerque. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including filtering automatically for proximity to parks, luxury housing options, pet-friendly features, features that make it easier to raise kids, proximity to transit, and more. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap Elder Homestead Apartments

What is a cheap apartment in Elder Homestead?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Elder Homestead is under $840.

What is the price of a cheap apartment in Elder Homestead?

The cheapest apartment in Elder Homestead is Home @ Valencia which is listed at $695, while the average apartment in Elder Homestead costs $1,800.

What types of apartments are the cheapest in Elder Homestead?

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 32 regular apartments in Elder Homestead that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

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

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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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 Experts 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.

Articles, How-To's, and Tips

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A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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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.