Cheap Apartments for Rent in Madrid, NM from $700 (44 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

close
View Me
Copper Hills
Rent Specials
$949 - $1,253
Total Monthly Price

Total Monthly Price

Base Rent
$949 - $1,253
Total Monthly Price
Varies
1 to 2 Bedroom Apartments Available Now

Copper Hills

4200 Spanish Bit NEAlbuquerque, NM 87111
Affordability
  • Verified
  • Customer Reviewed
  • Low Income

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.

Read Article
close
View Me
Local 1896
$1,364 - $1,946
Total Monthly Price

Total Monthly Price

Base Rent
$1,364 - $1,946
Total Monthly Price
Varies
1 to 3 Bedroom Apartments Available Now

Local 1896

1896 Lorca DrSanta Fe, NM 87505
Furnished
  • Verified
  • Customer Reviewed
  • 3D Tour

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.

Read Article
close
View Me
Allaso Vineyards
Rent Specials
$1,530 - $2,418
Total Monthly Price

Total Monthly Price

Base Rent
$1,530 - $2,418
Total Monthly Price
Varies
1 to 2 Bedroom Apartments Available Now

Allaso Vineyards

8901 Holly Ave NEAlbuquerque, NM 87122
  • Verified
  • Customer Reviewed
  • 3D Tour
close
View Me
Turquesa
Rent Specials
$1,594 - $2,718
Total Monthly Price

Total Monthly Price

Base Rent
$1,594 - $2,718
Total Monthly Price
Varies
1 to 3 Bedroom Apartments Available Now

Turquesa

4700 Wagon RdSanta Fe, NM 87507
Affordability
  • Verified
  • 3D Tour

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.

Read Article
close
View Me
South Meadows
Rent Specials
$1,596 - $2,746
Total Monthly Price

Total Monthly Price

Base Rent
$1,596 - $2,746
Total Monthly Price
Varies
1 to 3 Bedroom Apartments Available Now

South Meadows

2800 S Meadows RdSanta Fe, NM 87507
Affordability
  • Verified
  • Customer Reviewed
  • 3D Tour
close
View Me
Solwyn
Rent Specials
$1,644 - $2,709
Total Monthly Price

Total Monthly Price

Base Rent
$1,644 - $2,709
Total Monthly Price
Varies
1 to 3 Bedroom Apartments Available Now

Solwyn

5520 Wellness WaySanta Fe, NM 87507
  • Verified
  • 3D Tour
close
View Me
Allaso High Desert
Rent Specials
$1,718 - $2,904
Total Monthly Price

Total Monthly Price

Base Rent
$1,718 - $2,904
Total Monthly Price
Varies
1 to 3 Bedroom Apartments Available Now

Allaso High Desert

6701 Tennyson St NEAlbuquerque, NM 87111
Furnished
  • Verified
  • Customer Reviewed
  • 3D Tour
close
View Me
The Mica
$1,722 - $2,430
Total Monthly Price

Total Monthly Price

Base Rent
$1,722 - $2,430
Total Monthly Price
Varies
1 to 3 Bedroom Apartments Available Now

The Mica

825 Calle MejiaSanta Fe, NM 87501
Eco-Friendly
  • Verified
  • Customer Reviewed
  • 3D Tour

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.

Read Article
close
View Me
Madera Apartments
Rent Specials
$1,725 - $2,882
Total Monthly Price

Total Monthly Price

Base Rent
$1,725 - $2,882
Total Monthly Price
$1,725 - $2,882
1 to 3 Bedroom Apartments Available Now

Madera Apartments

2525 S Meadows RdSanta Fe, NM 87507
Outdoors
  • Verified
  • Customer Reviewed
  • 3D Tour
close
View Me
Casa Loma Apartments
Studio to 3 Bedroom Apartments

Casa Loma Apartments

100 Rio Vista PlSanta Fe, NM 87501
Corporate Housing
close
View Me
Vista Linda
1 to 4 Bedroom Apartments

Vista Linda

6332 Entrada de MilagroSanta Fe, NM 87507
Senior Living

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.

Read Article
Showing Results 1-44, Page 1 of 1

Madrid, NM Local Guide

Cheapest Available Madrid Apartments for Rent and Nearby

 

The cheapest available apartment rental in Madrid, NM is a 2 Beds unit found at Cresta Ranch Apartments in the Tiempo Lindo neighborhood priced from $738. Casitas Del Bella in the Pueblos Del Sol neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $925. Here is today’s list of the most affordable Madrid apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Cresta Ranch ApartmentsTwo Bedroom - 30% AMI2BR,2BA$738
Casitas Del BellaEfficiency w/ stove topStudio,1BA$925
Copper Hills1x11BR,1BA$949
Casa de Encantada Senior ApartmentsOne Bedroom1BR,1BA$1,096
Sierra Blanca Senior LivingStudioStudio,1BA$1,100
Vista Alegre ApartmentsStudio, 1 BathStudio,1BA$1,263
Sandoval Flats2AA (Wheelchair Accessible)2BR,2BA$1,298
Elevate at OsloStudio - 325Studio,1BA$1,305
Talavera Apartment HomesSequoia1BR,1BA$1,329
Dakota CanyonLa Casa A1BR,1BA$1,349

Best Value Apartments for Rent in Madrid, NM and Nearby

As of July 03, 2026 the best value apartment in the Madrid area is the $1.85 price per square foot 4 Bedroom 2 Bathroom Model at The Bluffs at Tierra Contenta in the in the Tiempo Lindo neighborhood starting from $2,439. The second greatest value Madrid apartment is the 2 X 2.5 (1-Car Gar) Model at Terra at Enchanted Hills starting at $2,135 with a $1.75 price per square foot in the Encantado del Norte Heritage Series neighborhood. Here is today’s list of the best values for Madrid apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Bluffs at Tierra Contenta4 Bedroom 2 Bathroom4BR,2BA$1.85
Terra at Enchanted Hills2 X 2.5 (1-Car Gar)2BR,2.5BA$1.75
La Ventana2x2-1035-Full Renovation2BR,2BA$1.91
Sandoval Flats2AA (Wheelchair Accessible)2BR,2BA$1.30
Local 18962x1AR1T2 - 2X1 Renovated2BR,1BA$1.47
Allegro at Tanoan1 Bedroom 1 Bath1BR,1BA$1.74
La Mirage Apartment HomesSandia1BR,1BA$1.82
Altezza High DesertMontalto1BR,1BA$1.90
Copper Hills1x11BR,1BA$1.36
Casa de Encantada Senior ApartmentsOne Bedroom1BR,1BA$1.89

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

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

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

Explore Madrid, NM Rentals by Map

Decorative image of map

See the most popular apartments and homes in Madrid, NM

View Map
Madrid, NM Apartments Map
View Map
Madrid, NM Rental Homes Map

Frequently Asked Questions about Cheap Madrid Apartments

What is the Cheapest Studio apartment in Madrid?

Currently the most affordable Cheap Studio Apartment in Madrid is at Casitas Del Bella listed at $925.

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

The lowest price for a Cheap One Bedroom Madrid Apartment is $949 at Copper Hills.

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

Today's best deal for a Cheap Two Bedroom Apartment in Madrid is starting from $738 at Cresta Ranch Apartments.

What is the most affordable Madrid Three Bedroom Apartment?

The best deal on a cheap Madrid Three Bedroom Apartment rental is at Cresta Ranch Apartments and starts from $853.

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

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.

decorative image for Apartment Occupancy Rates: Renter Attraction vs Renter Retention article

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.

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

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.

decorative image for Pet-Friendly Renting: Everything You Need to Know Before You Move article

Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.