Cheap Homes for Rent near Luna, NM from $950 (7 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
By AmenitiesDone
By Community TypeDone
Done

Search the lowest-cost Homes available for rent right now in Luna.

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.

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.

Luna, NM Local Guide

Cheapest Available Luna Apartments for Rent and Nearby

 

The cheapest available apartment rental in Luna, NM is a 1 Bed unit found at Riverstone in the El G.H.E.K.O. neighborhood priced from $606. Canyon Oaks in the Broadway Pantano East neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $664. Here is today’s list of the most affordable Luna apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Riverstone1A | One Bedroom1BR,1BA$606
Canyon OaksModel A1BR,1BA$664
Toscana Cove Apartments1 Bedroom 1 Bathroom1BR,1BA$685

Best Value Apartments for Rent in Luna, NM and Nearby

As of September 13, 2026 the best value apartment in the Luna area is the $1.38 price per square foot 3x2 Model at Coronado Villas Apartments in the in the Bear Canyon neighborhood starting from $1,570. The second greatest value Luna apartment is the Two Bedroom/2 Bath Model at Timberstone Apartments starting at $870 with a $0.96 price per square foot in the Torreon neighborhood. Here is today’s list of the best values for Luna apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Coronado Villas Apartments3x23BR,2BA$1.38
Timberstone ApartmentsTwo Bedroom/2 Bath2BR,2BA$0.96
Palisade FlatsTwo bedroom one bathroom2BR,1BA$1.31
Sedona Springs2 Beds 2 Baths2BR,2BA$1.38
Pavilions at Pantano Apartments2B (863 sf)2BR,2BA$1.11
SomerpointeThe Amber1BR,1BA$1.31
The Place at Wilmot North1x1 A71BR,1BA$1.27
The Vintage Apartments6201BR,1BA$1.37
Villas Las JacarandasJunior - One Bedroom One Bath1BR,1BA$1.38
Bella FloraOne bedroom one bathroom1BR,1BA$1.31

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.

Read Article
Decorative image

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.

Read Article

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.

Read Article
Decorative image

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.

decorative image of people with a giant lease agreement

Pet Friendly Lifestyle

Ranked #

Among cities in New Mexico for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

Pet Friendly

decorative image of woman handing cat to small boy

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

Explore Luna, NM Rentals by Map

View Map
Luna, NM Apartments Map
View Map
Luna, NM Rental Homes Map

Frequently Asked Questions about Luna

What type of rentals are currently available in Luna?

There are currently 45 Apartments for Rent in Luna, NM with pricing that ranges from $613 to $2,378. There are also 37 Single Family Homes for rent, Condos, and Townhome rentals currently available in Luna ranging from $950 to $10,000.

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

Today's rental pricing for Homes for Rent, Condos and Townhomes in Luna ranges from $950 to $10,000 with an average monthly rent of $2,374.

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

decorative image for Rent According to Income: A Look at Income-Restricted Rentals   article

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.

decorative image for Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My! article

Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

Written by: Robin Stewart

Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

decorative image for Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags   article

Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

decorative image for First Apartment Regrets: Real Renters Share What They'd Do Differently article

First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.