Cheap Apartments for Rent near Lincoln, NM from $400 (50 Rentals)

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Search the lowest-cost Apartments available for rent right now in Lincoln.

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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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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100 Lower Terrace Dr
Studio to 2 Bedroom Apartments

100 Lower Terrace Dr

100 Lower Terrace DrRuidoso, NM 88345
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311 Mechem Dr
Studio to 3 Bedroom Apartments

311 Mechem Dr

311 Mechem DrRuidoso, NM 88345
  • Utilities Included
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205 Mechem Dr
Studio to 3 Bedroom Apartments

205 Mechem Dr

205 Mechem DrRuidoso, NM 88345

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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Sierra Vista Village
1 to 4 Bedroom Apartments

Sierra Vista Village

28 W Martin StRoswell, NM 88203
  • Utilities Included
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708 W 13th St
1 Bedroom Apartments

708 W 13th St

708 W 13th StRoswell, NM 88201
Corporate Housing
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301 Mechem Dr
2 to 3 Bedroom Apartments

301 Mechem Dr

301 Mechem DrRuidoso, NM 88345
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101 N 25th St
1 to 2 Bedroom Apartments

101 N 25th St

101 N 25th StArtesia, NM 88210
  • Utilities Included

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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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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Lincoln, NM Local Guide

Cheapest Available Lincoln Apartments for Rent and Nearby

 

The cheapest available apartment rental in Lincoln, NM is a 1 Bed unit found at Roselawn Manor priced from $517. Azotea Apartments 62+ has the second lowest priced unit, which is a 1 Bed apartment currently listed from $544. Here is today’s list of the most affordable Lincoln apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Roselawn ManorOne Bedroom1BR,1BA$517
Azotea Apartments 62+1 Bedroom1BR,1BA$544
Cottonwood Commons1 Bedroom1BR,1BA$554
Wilshire Gardens 55+2 BR2BR,1BA$676
Sierra Vista Village2B/1B SS2BR,1BA$700
Mirador Apartments1 BEDROOM1BR,1BA$700
La Tierra 55+1 Bedroom1BR,1BA$770
Mesa Verde - FREE UtilitiesOne Bedroom1BR,1BA$820
Christa Lee Manor ApartmentsTwo Bedroom Large2BR,2BA$855
EMLI Artesia: Income Qualify TodayOne Bedroom - 60% Tax Credit1BR,1BA$987

Best Value Apartments for Rent in Lincoln, NM and Nearby

As of July 27, 2026 the best value apartment in the Lincoln area is the $1.26 price per square foot 3 Bed, 1.5 Bath B Model at Villas of Briar Ridge in the starting from $1,504. The second greatest value Lincoln apartment is the Two Bedroom Large Model at Christa Lee Manor Apartments starting at $855 with a $0.90 price per square foot . Here is today’s list of the best values for Lincoln apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Villas of Briar Ridge3 Bed, 1.5 Bath B3BR,1.5BA$1.26
Christa Lee Manor ApartmentsTwo Bedroom Large2BR,2BA$0.90
Mirador Apartments2 BEDROOM2BR,1BA$0.89
Wilshire Gardens 55+2 BR2BR,1BA$0.77
La Tierra 55+2 Bedrooms2BR,1BA$1.16
EMLI Artesia: Income Qualify TodayOne Bedroom - 60% Tax Credit1BR,1BA$1.28
Azotea Apartments 62+1 Bedroom1BR,1BA$0.73
Cottonwood Commons1 Bedroom1BR,1BA$1.01
Sierra Vista Village2B/1B1BR,1BA$1.17
Roselawn ManorOne Bedroom1BR,1BA$0.88

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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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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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Lincoln, NM Rentals by Map

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See the most popular apartments and homes in Lincoln, NM

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Frequently Asked Questions about Cheap Lincoln Apartments

How much is rent for a Cheap One Bedroom Lincoln Apartment?

The lowest price for a Cheap One Bedroom Lincoln Apartment is $517 at Roselawn Manor.

What is the lowest price for a Cheap Two Bedroom Lincoln Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Lincoln is starting from $614 at Roselawn Manor.

What is the most affordable Lincoln Three Bedroom Apartment?

The best deal on a cheap Lincoln Three Bedroom Apartment rental is at Cottonwood Commons and starts from $621.

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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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.