1506 Agua Fria St
Santa FeNM87505
Cheap Homes for Rent in Madrid, NM from $1,500 (7 Rentals)
Search the lowest-cost Homes available for rent right now in Madrid.
3325 Camino Cielo Vista
Santa FeNM87507
88 Crestview Ln
EdgewoodNM87015
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.
4537 Ave Contenta
Santa FeNM87507
1867 Camino de Pabilo
Santa FeNM87505
4653 Camino Cuervo
Santa FeNM87507
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.
4504 Cll Turquesa
Santa FeNM87507
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Madrid, NM Local Guide
Night shot of camping by Bureau of Land Management is licensed under CC BY 2.0
How much does it cost to rent a home in Madrid?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Madrid 2 Bedroom Homes for Rent | $2,666 | $2,250 | $3,200 |
| Madrid 3 Bedroom Homes for Rent | $3,039 | $2,000 | $5,800 |
| Madrid 4 Bedroom Homes for Rent | $3,600 | $3,200 | $4,500 |
Browse Top Homes for Rent in Madrid
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Madrid, NM Local Guide
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Cheapest Available Madrid Apartments for Rent and Nearby
The cheapest available apartment rental in Madrid, NM is a 1 Bed unit found at Copper Hills in the Foothills neighborhood priced from $899. Santa Fe Suites in the Pueblos Del Sol neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $899. Here is today’s list of the most affordable Madrid apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Copper Hills | 1x1 | 1BR,1BA | $899 |
| Santa Fe Suites | Studio | Studio,1BA | $899 |
| Casa de Encantada Senior Apartments | One Bedroom | 1BR,1BA | $993 |
Best Value Apartments for Rent in Madrid, NM and Nearby
As of November 15, 2025 the best value apartment in the Madrid area is the $1.58 price per square foot 4 Bedroom 2 Bathroom Model at The Bluffs at Tierra Contenta in the in the Tiempo Lindo neighborhood starting from $2,085. The second greatest value Madrid apartment is the 2 X 2.5 (2-Car Gar) Model at Terra at Enchanted Hills starting at $2,120 with a $1.74 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| The Bluffs at Tierra Contenta | 4 Bedroom 2 Bathroom | 4BR,2BA | $1.58 |
| Terra at Enchanted Hills | 2 X 2.5 (2-Car Gar) | 3BR,3.5BA | $1.74 |
| The Mica | The Juniper | 3BR,2BA | $1.51 |
| Allegro at Tanoan | 2 Bedroom 2 Bath | 2BR,2BA | $1.78 |
| La Mirage Apartment Homes | Tijeras | 2BR,2BA | $1.62 |
| La Ventana | 1X1-712 | 1BR,1BA | $1.94 |
| Copper Hills | 1x1 | 1BR,1BA | $1.28 |
| Evergreen Apartments | 1x1-B | 1BR,1BA | $1.70 |
| Vizcaya | Chama | 1BR,1BA | $1.98 |
| Casa de Encantada Senior Apartments | One Bedroom | 1BR,1BA | $1.71 |
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
The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.
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Frequently Asked Questions about Madrid
What type of rentals are currently available in Madrid?
There are currently 41 Apartments for Rent in Madrid, NM with pricing that ranges from $899 to $3,709. There are also 36 Single Family Homes for rent, Condos, and Townhome rentals currently available in Madrid ranging from $1,500 to $5,800.
What is the current price range for Rental Homes in Madrid?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Madrid ranges from $1,500 to $5,800 with an average monthly rent of $2,726.
How much are larger Three and Four Bedroom Rentals in Madrid?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Madrid range from $1,228 to $2,928, while Three Bedroom Homes, Condos, and Townhomes for rent range from $2,000 to $5,800. Four Bedroom Single-Family rentals are also available starting from $3,200 and Four Bedroom Apartments start at $1,343.
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.
Apartment Common Area Rules: What Renters Need to Know
Written by: Christine Leonard, Esq.
Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.
How to Negotiate Your Apartment Lease and Save Money
Written by: Christine Leonard, Esq.
Everything is a negotiation in real estate!
The Rental Move-In Inspection Checklist: A Guide for Renters
Written by: Trey Huguley
The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.
Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Written by: Christine Leonard, Esq.
For many people, obstacles can arise during the rental application process for a variety of issues.