Cheap Homes for Rent in Albuquerque, NM from $500 (54 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: 01/25/2026

Current apartment rentals in the Albuquerque, NM area range in price from $547 to $3,924 with an overall median price of $2,100. The three Albuquerque neighborhoods with the lowest median rent pricing are Trumbull Village at $674, La Mesa at $674, and Southeast Heights at $745. 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$897$6747
La Mesa$1,000$6747
Southeast Heights$1,050$7455
Rose View Acres$1,200$74011
Executive Hills$1,265$73064
Four Hills Village$1,265$73059
Juan Tabo Hills$1,265$73060
Juan Tabo Hills West$1,265$73065
Tijeras Arroyo$1,265$73061
Willow Wood$1,265$73068

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 $520. 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$520
The Loop @9500x1 - 280Studio,1BA$645
White Oak Apartments1x11BR,1BA$716
Silver Gardens Apartments1 Bedroom (50%)1BR,1BA$740
Madeira CourtStudioStudio,1BA$749
Encanto Lofts ApartmentsJuniper - Studio + DenStudio,1BA$779
Union 505StudioStudio,1BA$785
Lomas Gardens1BR/1.0BA1BR,1BA$795
Millennium FlatsUnit Type BStudio,1BA$795
Tierra PointeS1Studio,1BA$796

Best Value Apartments for Rent in Albuquerque, NM

As of January 25, 2026 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 3 Bedroom 2 Bathroom Model at The Ridge starting at $1,105 with a $0.98 price per square foot in the South Los Altos 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
The Ridge3 Bedroom 2 Bathroom3BR,2BA$0.98
Four Seasons2br apartment corner unit2BR,1BA$1.10
Pine Lane ApartmentsKaloDuo-Premium2BR,1BA$1.14
The Portals ApartmentsB12BR,1BA$1.09
Theta ApartmentsKaloDuo-Premium2BR,2BA$1.17
Aspen RidgeTwo Bedroom Two Bath2BR,2BA$1.09
147 General Arnold St NE, Unit 4147 General Arnold St NE1BR,1BA$1.15
Lomas Gardens1BR/1.0BA1BR,1BA$1.14
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

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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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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 Albuquerque

What type of rentals are currently available in Albuquerque?

There are currently 1579 Apartments for Rent in Albuquerque, NM with pricing that ranges from $520 to $11,199. There are also 442 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 $2,170.

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 $3,924, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,350 to $5,300. Four Bedroom Single-Family rentals are also available starting from $800 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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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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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.