Cheap Homes for Rent in Albuquerque, NM from $500 (65 Rentals)

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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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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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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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Albuquerque, NM Local Guide

Cheapest Neighborhoods for Apartments in Albuquerque, NM

Pricing Updated: 12/23/2025

Current apartment rentals in the Albuquerque, NM area range in price from $550 to $7,500 with an overall median price of $2,741. The three Albuquerque neighborhoods with the lowest median rent pricing are Eastside at $995, Foothill Estates at $1,650, and La Mesa at $800. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Albuquerque Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Eastside$995$9951
Foothill Estates$1,650$1,6501
La Mesa$1,650$8004
Raynolds Addition$1,745$1,4954
Mountain View$1,800$8002
Rose View Acres$1,800$8002
Westgate Vecinos$1,800$1,8001
Lee Acres$1,820$1,8201
Route 66 West$1,825$1,8251
Elder Homestead$1,879$70030

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 $588. The Loop @950 in the South San Pedro neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $645. 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$588
The Loop @9500x1 - 280Studio,1BA$645
Home @ Valencia1bd/1ba1BR,1BA$695
FREE UTILITIES!! GREAT VIBES!!Sailor Interior UnitsStudio,1BA$699
Nova Peak0BR/1.0BAStudio,1BA$700
Encanto Lofts ApartmentsYucca - StudioStudio,1BA$715
White Oak Apartments1x11BR,1BA$716
Silver Gardens Apartments1 Bedroom (50%)1BR,1BA$740
Union 505StudioStudio,1BA$744
Madeira CourtStudioStudio,1BA$749

Best Value Apartments for Rent in Albuquerque, NM

As of December 23, 2025 the best value apartment in the Albuquerque area is the $1.19 price per square foot 1 Car Garage Model at Indian Ridge in the in the Northeast Quadrant neighborhood starting from $1,745. The second greatest value Albuquerque apartment is the Two Bedroom One Bath Model at Taylor Ridge Apartments starting at $1,200 with a $1.00 price per square foot in the Southwest 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.
Indian Ridge1 Car Garage2BR,2.5BA$1.19
Taylor Ridge ApartmentsTwo Bedroom One Bath2BR,1BA$1.00
The Ridge3 Bedroom 2 Bathroom3BR,2BA$1.18
Four Seasons2br apartment corner unit2BR,1BA$1.10
Theta ApartmentsKaloDuo2BR,2BA$1.09
Aspen RidgeTwo Bedroom Two Bath2BR,2BA$1.09
328 Rhode Island (New) St NE2 bed/ 1 bath2BR,1BA$1.23
Canyon Crest1 Bedroom 1 Bathroom1BR,1BA$1.18
Lomas Gardens1BR/1.0BA1BR,1BA$1.16
White Oak Apartments1x11BR,1BA$1.03

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.

Read Article
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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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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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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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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, 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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Albuquerque, NM Area Reviews

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Frequently Asked Questions about Albuquerque

What type of rentals are currently available in Albuquerque?

There are currently 1597 Apartments for Rent in Albuquerque, NM with pricing that ranges from $619 to $4,121. There are also 420 Single Family Homes for rent, Condos, and Townhome rentals currently available in Albuquerque ranging from $550 to $7,500.

What is the current price range for Rental Homes in Albuquerque?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Albuquerque ranges from $550 to $7,500 with an average monthly rent of $2,179.

How much are larger Three and Four Bedroom Rentals in Albuquerque?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Albuquerque range from $1,020 to $3,885, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,600 to $5,300. Four Bedroom Single-Family rentals are also available starting from $1,600 and Four Bedroom Apartments start at $1,300.

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.

Articles, How-To's, and Tips

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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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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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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!