Cheap Homes for Rent in Albuquerque, NM from $500 (42 Rentals)

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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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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Albuquerque, NM Local Guide

Cheapest Neighborhoods for Apartments in Albuquerque, NM

Pricing Updated: 07/02/2025

Current apartment rentals in the Albuquerque, NM area range in price from $578 to $8,500 with an overall median price of $2,310. The three Albuquerque neighborhoods with the lowest median rent pricing are Silver Hill at $750, La Mesa at $707, and Southeast Heights at $775. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Albuquerque Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Silver Hill$985$7508
La Mesa$1,010$7074
Southeast Heights$1,110$7752
University Heights$1,200$7554
South San Pedro$1,300$64539
Westland North$1,331$79929
Trumbull Village$1,335$64513
Las Lomita$1,336$73042
Parkway$1,341$73042
Tierra Oeste$1,341$73042

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 $578. Brandywood Park - FREE Utilities in the South San Pedro neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $699. 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$578
Brandywood Park - FREE UtilitiesSailor's Studio - FREE UtilitiesStudio,1BA$699
The Villas @ UptownStudio UpgradeStudio,1BA$700
El Pueblo II Apartments1x11BR,1BA$716
Loop @9500x1 - 410Studio,1BA$725
Millennium Flats - Washer-Dryer IncludedStudioStudio,1BA$740
Silver Gardens Apartments1 Bedroom (50%)1BR,1BA$740
Home @ Valencia1bd/1ba1BR,1BA$750
760 On The BlvdStudio, 1 BathroomStudio,1BA$750

Best Value Apartments for Rent in Albuquerque, NM

As of July 02, 2025 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 2 bedroom 1 bathroom MKT Model at Via Apartments starting at $1,180 with a $1.18 price per square foot in the North Valley 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
Via Apartments2 bedroom 1 bathroom MKT2BR,1BA$1.18
Four Seasons2br apartment corner unit2BR,1BA$1.10
8309 Trumbull Ave SE, Unit B8309 Trumbull Ave SE2BR,1BA$1.06
200 Tennessee St NE, Unit 200 A200 Tennessee St NE2BR,1BA$1.13
420 Mesilla St SE, Unit A420 Mesilla St SE2BR,1BA$1.06
116 Dallas St SE, Unit C116 Dallas St SE2BR,1BA$1.20
Lomas Gardens1BR/1.0BA1BR,1BA$1.21
El Pueblo II Apartments1x11BR,1BA$1.03
528 Charleston St SE, Unit 4528 Charleston St SE1BR,1BA$1.23

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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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 1621 Apartments for Rent in Albuquerque, NM with pricing that ranges from $578 to $8,500. There are also 296 Single Family Homes for rent, Condos, and Townhome rentals currently available in Albuquerque ranging from $575 to $16,500.

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 $575 to $16,500 with an average monthly rent of $4,198.

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 $799 to $7,468, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,000 to $5,500. Four Bedroom Single-Family rentals are also available starting from $1,650 and Four Bedroom Apartments start at $1,253.

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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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.