Cheap Homes for Rent in Albuquerque, NM from $600 (69 Rentals)

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property at 636 640

$795 - $1,050

1 To 2 Bedroom Rentals

Available Now

636 640

AlbuquerqueNM87108

Your Guide to the Best Neighborhoods to Rent Near Albuquerque’s Top Employers

Moving to Albuquerque? Find the best neighborhoods near Sandia Labs, Presbyterian Healthcare Services, and UNM. Cut your commute, boost your quality of life, and find your perfect apartment or rental home.

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property at 2800 Vail Ave SE

$850 - $1,080

Studio To 1 Bedroom Rentals

Available Now

2800 Vail Ave SE

AlbuquerqueNM87106

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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

Find your perfect spot in ABQ. Get a local's breakdown of Albuquerque neighborhoods like Nob Hill and Downtown, plus tips on navigating the city’s unique charm and high-desert lifestyle.

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

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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Albuquerque, NM Local Guide

Cheapest Neighborhoods for Apartments in Albuquerque, NM

Pricing Updated: 07/26/2026

Current apartment rentals in the Albuquerque, NM area range in price from $500 to $4,419 with an overall median price of $2,090. The three Albuquerque neighborhoods with the lowest median rent pricing are La Mesa at $724, Outer Albuquerque Metro at $1,050, and Southeast Heights at $790. 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$72423
Outer Albuquerque Metro$1,050$1,0501
Southeast Heights$1,050$79010
University Heights$1,250$9999
Avalon$1,300$7851
Skyview West$1,300$7851
South San Pedro$1,395$50072
Trumbull Village$1,395$64548
Silver Hill$1,400$7954
Sycamore$1,400$7952

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
Nova RidgeS1Studio,1BA$725
Desert Creek ApartmentsSRO-Sleeping room onlyStudio,1BA$725
Mont 44 Apartments1 Bedroom, 1 Bathroom TC1BR,1BA$748

Best Value Apartments for Rent in Albuquerque, NM

As of July 26, 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 1 Beds, 1 Baths Model at 521-525 Cedar St SE starting at $945 with a $0.88 price per square foot in the Southeast 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
521-525 Cedar St SE1 Beds, 1 Baths1BR,1BA$0.88
Four Seasons2br apartment corner unit2BR,1BA$1.15
433-437 Louisiana Blvd SE2 Beds, 1 Baths2BR,1BA$0.79
Cloudview Terrace2Bd/1Bath LOFT2BR,1BA$1.08
The Portals ApartmentsA11BR,1BA$1.14
White Oak Apartments1x11BR,1BA$1.03
Casa de Sierra Senior ApartmentsOne Bedroom1BR,1BA$1.15
Tennessee Street2 Beds, 1 Baths2BR,1BA$1.19
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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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 1601 Apartments for Rent in Albuquerque, NM with pricing that ranges from $500 to $4,419. There are also 389 Single Family Homes for rent, Condos, and Townhome rentals currently available in Albuquerque ranging from $650 to $7,000.

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 $650 to $7,000 with an average monthly rent of $2,099.

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 $915 to $4,419, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,450 to $7,000. Four Bedroom Single-Family rentals are also available starting from $1,895 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.

Helpful Local Expert Guides

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

Written by: Esther Lombardi

I still recollect my first morning commute in Albuquerque.

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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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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.

decorative image for A Local Expert's Guide To The Best Budget-Friendly Neighborhoods to Rent in Albuquerque article

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.

Articles, How-To's, and Tips

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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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

Written by: Robin Stewart

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.