12 Camino del Campo Santo
PlacitasNM87043
Cheap Homes for Rent in Madrid, NM from $1,000 (8 Rentals)
Search the lowest-cost Homes available for rent right now in Madrid.
2800 Cerrillos Rd
Santa FeNM87507
2600 W Zia Rd
Santa FeNM87505
1012 Marquez Pl
Santa FeNM87505
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.
601 W San Mateo Rd
Santa FeNM87505
1307 Rufina Ln
Santa FeNM87507
771 A Old Las Vegas Hwy
Santa FeNM87505
2210 Miguel Chavez Rd
Santa FeNM87505
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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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 | $2,107 | $1,050 | $3,000 |
| Madrid 3 Bedroom Homes for Rent | $3,138 | $2,200 | $5,300 |
| Madrid 4 Bedroom Homes for Rent | $4,150 | $3,450 | $5,000 |
| Madrid 5 Bedroom Homes for Rent | $12,500 | $10,000 | $10,000+ |
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 Studio unit found at Santa Fe Suites in the Pueblos Del Sol neighborhood priced from $899. 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 Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Santa Fe Suites | Studio | Studio,1BA | $899 |
| Casitas Del Bella | Efficiency w/ stove top | Studio,1BA | $925 |
| Casa de Encantada Senior Apartments | One Bedroom | 1BR,1BA | $1,096 |
Best Value Apartments for Rent in Madrid, NM and Nearby
As of May 31, 2026 the best value apartment in the Madrid area is the $1.82 price per square foot 4 Bedroom 2 Bathroom Model at The Bluffs at Tierra Contenta in the in the Tiempo Lindo neighborhood starting from $2,399. The second greatest value Madrid apartment is the 2x2-1035-Full Renovation Model at La Ventana starting at $2,017 with a $1.95 price per square foot in the Foothills 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 | $1.82 |
| La Ventana | 2x2-1035-Full Renovation | 2BR,2BA | $1.95 |
| Allegro at Tanoan | 2 Bedroom 2 Bath | 2BR,2BA | $1.68 |
| Talavera Apartment Homes | Chamisa | 3BR,2BA | $1.90 |
| Local 1896 | 2x1AR1T2 - 2X1 Renovated | 2BR,1BA | $1.89 |
| Copper Hills | 2x1 | 2BR,1BA | $1.34 |
| Enchanted Hills | Diego | 2BR,1BA | $1.74 |
| Coronado Townhomes | 2x2 | 2BR,2BA | $1.96 |
| Evergreen Apartments | 1x1-B | 1BR,1BA | $1.70 |
| Casa de Encantada Senior Apartments | One Bedroom | 1BR,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
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 ArticleQuick 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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See the most popular apartments and homes in Madrid, NM
Frequently Asked Questions about Madrid
What type of rentals are currently available in Madrid?
There are currently 45 Apartments for Rent in Madrid, NM with pricing that ranges from $899 to $3,290. There are also 37 Single Family Homes for rent, Condos, and Townhome rentals currently available in Madrid ranging from $1,050 to $12,500.
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 $1,050 to $12,500 with an average monthly rent of $4,257.
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 $1,486 to $3,290, while Three Bedroom Homes, Condos, and Townhomes for rent range from $2,200 to $5,300. Four Bedroom Single-Family rentals are also available starting from $3,450 and Four Bedroom Apartments start at $1,644.
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
Neighborhood and Market Insights: How to Choose the Right Area to Rent
Written by: Robin Stewart
Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.
A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Written by: Lauren Harrington
I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.
Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts
Written by: Lauren Harrington
This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Written by: Lauren Harrington
This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.