Cheap Apartments for Rent in the Elder Homestead Neighborhood of Albuquerque, NM from $400 (42 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Elder Homestead area of Albuquerque.

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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Warren Continental
Studio to 2 Bedroom Apartments

Warren Continental

1000 Louisiana Blvd SEAlbuquerque, NM 87108
Furnished
  • Utilities Included
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3409 Crest Ave SE
1 Bedroom Apartments

3409 Crest Ave SE

3409 Crest Ave SEAlbuquerque, NM 87106
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3400 Crest Ave SE
1 Bedroom Apartments

3400 Crest Ave SE

3400-3408 Crest Ave SEAlbuquerque, NM 87106

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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436 Utah St NE
1 Bedroom Apartments

436 Utah St NE

436 Utah St NEAlbuquerque, NM 87108
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Warren Park Apartments
Studio to 4 Bedroom Apartments

Warren Park Apartments

900 Continental Loop SEAlbuquerque, NM 87108
  • Utilities Included
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126 Charleston St NE
Studio to 1 Bedroom Apartments

126 Charleston St NE

126-130 Charleston St SEAlbuquerque, NM 87108
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Yucca House
1 Bedroom Apartments

Yucca House

1015 Valencia Dr SEAlbuquerque, NM 87108
  • Utilities Included
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Casa Del Rey Sur
1 Bedroom Apartments

Casa Del Rey Sur

112 Cardenas Dr NEAlbuquerque, NM 87108
  • Utilities Included

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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Donna Ann Apartments
1 to 2 Bedroom Apartments

Donna Ann Apartments

7905-8021 Marquette Ave NEAlbuquerque, NM 87108
  • Utilities Included
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Fair Plaza Apartments
1 Bedroom Apartments

Fair Plaza Apartments

5901 Alice Ave NEAlbuquerque, NM 87110
  • Utilities Included
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The Loop @950
Studio to 4 Bedroom Apartments

The Loop @950

950 Louisiana Blvd SEAlbuquerque, NM 87108
  • Utilities Included
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420 Jefferson St NE
1 to 2 Bedroom Apartments

420 Jefferson St NE

420 Jefferson St NEAlbuquerque, NM 87108
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1028 Alvarado Dr
1 Bedroom Apartments

1028 Alvarado Dr

1028 Alvarado DrAlbuquerque, NM 87108

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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Manzano
2 Bedroom Apartments

Manzano

129-149 Manzano St NEAlbuquerque, NM 87108
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Somerset Lofts
1 Bedroom Apartments

Somerset Lofts

700 Truman St NEAlbuquerque, NM 87110
  • Utilities Included
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Sun Apartments
1 Bedroom Apartments

Sun Apartments

433-437 Mesilla St SEAlbuquerque, NM 87108
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Hilltop House
Studio to 1 Bedroom Apartments

Hilltop House

5700 Copper Ave NEAlbuquerque, NM 87108
  • Utilities Included
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Espanola Apartments
1 Bedroom Apartments

Espanola Apartments

401 Espanola St SEAlbuquerque, NM 87108
  • Utilities Included
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Uptown Horizon
Studio to 1 Bedroom Apartments

Uptown Horizon

7601 Lomas Blvd NEAlbuquerque, NM 87110

Elder Homestead - One of the Best Affordable Neighborhoods in Albuquerque

Named as one of the Best Affordable Areas to rent in Albuquerque by our Local Expert Esther Lombardi. See how it ranks!

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Skylight Apartments
2 Bedroom Apartments

Skylight Apartments

3410-3422 Vail Ave SEAlbuquerque, NM 87106
  • Utilities Included
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Casa dos Santos
Studio to 1 Bedroom Apartments

Casa dos Santos

520 Ortiz Dr SEAlbuquerque, NM 87108

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 1 Bed unit found at Home @ Valencia priced from $695. FREE UTILITIES!! GREAT VIBES!! has the second lowest priced unit, which is a Studio apartment currently listed from $699. Here are the most affordable Elder Homestead apartments for rent in Albuquerque, NM:

Apartment ListingModel NameBed/BathPriced From
Home @ Valencia1bd/1ba1BR,1BA$695
FREE UTILITIES!! GREAT VIBES!!Sailor Interior UnitsStudio,1BA$699
White Oak Apartments1x11BR,1BA$716
Madeira CourtStudioStudio,1BA$749
Uptown HorizonStudioStudio,1BA$799
Nova Point Gated Community0BR/1.0BAStudio,1BA$800
Casa dos SantosStudio 520Studio,1BA$800
White Oak ApartmentsCasa Del Rey Oeste1BR,1BA$823

Best Value Apartments for Rent in Elder Homestead, NM

As of October 21, 2025 the best value apartment in the Elder Homestead area is the $1.11 price per square foot 544 Chama St SE Model at 544 Chama St SE, Unit C in the in the Trumbull Village neighborhood starting from $900. The second greatest value Elder Homestead apartment is the 200 Tennessee St NE Model at 200 Tennessee St NE, Unit 200 A starting at $750 with a $0.94 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.
544 Chama St SE, Unit C544 Chama St SE2BR,1BA$1.11
200 Tennessee St NE, Unit 200 A200 Tennessee St NE1BR,1BA$0.94
147 General Arnold St NE, Unit 4147 General Arnold St NE1BR,1BA$1.15
8405 Trumbull Ave SE, Unit D8405 Trumbull Ave SE2BR,1BA$1.03
Villa Apartments1 Bed 1 Bath1BR,1BA$1.37
White Oak Apartments1x11BR,1BA$1.03
Casa de Sierra Senior ApartmentsOne Bedroom1BR,1BA$1.30
The Lanai Apartments1BD/1B1BR,1BA$1.38
The Loop @9501x1 - 645 (920 Building)1BR,1BA$1.33
Home @ Valencia1bd/1ba1BR,1BA$1.26

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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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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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Pet Friendly Lifestyle
Elder Homestead, Albuquerque, NM

Ranked #326

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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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!

Getting Around the Elder Homestead Neighborhood in Albuquerque, NM

Walk Score®

61 / 100

Somewhat Walkable

Some errands can be accomplished on foot

Bike Score®

68 / 100

Bikeable

Some bike infrastructure

Transit Score®

34 / 100

Some Transit

A few nearby public transportation options

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 $823.

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 $1,500.

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 39 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

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! 

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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.

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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.