138 Ridgecrest Dr
Santa FeNM87505
Cheap Homes for Rent near Madrid, NM from $1,700 (9 Rentals)
Search the lowest-cost Homes available for rent right now in Madrid.
1307 Rufina Ln
Santa FeNM87507
601 W San Mateo Rd
Santa FeNM87505
500 Rafael St
Santa FeNM87505
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.
6421 Ave Christina
Santa FeNM87507
95 Paseo Nopal
Santa FeNM87507
1011 Calle De Suenos
Santa FeNM87507
4954 Foxmoore Dr NE
Rio RanchoNM87144
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.
1468 Acequia Borrada
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 | $2,682 | $1,700 | $3,695 |
| Madrid 3 Bedroom Homes for Rent | $3,498 | $2,000 | $8,000 |
| Madrid 4 Bedroom Homes for Rent | $3,390 | $2,250 | $5,000 |
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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 Casitas Del Bella in the Pueblos Del Sol neighborhood priced from $925. Copper Hills in the Foothills neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $949. Here is today’s list of the most affordable Madrid apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Casitas Del Bella | Efficiency w/ stove top | Studio,1BA | $925 |
| Copper Hills | 1x1 | 1BR,1BA | $949 |
| Santa Fe Suites | Studio | Studio,1BA | $955 |
Best Value Apartments for Rent in Madrid, NM and Nearby
As of July 26, 2026 the best value apartment in the Madrid area is the $1.52 price per square foot 3 x 3.5 (1-car Gar) Model at Terra at Enchanted Hills in the in the Encantado del Norte Heritage Series neighborhood starting from $2,495. The second greatest value Madrid apartment is the 4 Bedroom 2 Bathroom Model at The Bluffs at Tierra Contenta starting at $2,464 with a $1.87 price per square foot in the Tiempo Lindo 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. |
|---|---|---|---|
| Terra at Enchanted Hills | 3 x 3.5 (1-car Gar) | 3BR,3.5BA | $1.52 |
| The Bluffs at Tierra Contenta | 4 Bedroom 2 Bathroom | 4BR,2BA | $1.87 |
| La Ventana | 2x2-1035-Full Renovation | 2BR,2BA | $1.90 |
| Allegro at Tanoan | 2 Bedroom 2 Bath | 2BR,2BA | $1.71 |
| Sandoval Flats | 2AA (Wheelchair Accessible) | 2BR,2BA | $1.30 |
| Cresta Ranch | Two Bedroom - 60% AMI | 2BR,2BA | $1.52 |
| La Mirage Apartment Homes | Sandia | 1BR,1BA | $1.77 |
| Altezza High Desert | Montalto | 1BR,1BA | $1.90 |
| Copper Hills | 1x1 | 1BR,1BA | $1.36 |
| 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.
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Frequently Asked Questions about Madrid
What type of rentals are currently available in Madrid?
There are currently 46 Apartments for Rent in Madrid, NM with pricing that ranges from $925 to $3,624. There are also 33 Single Family Homes for rent, Condos, and Townhome rentals currently available in Madrid ranging from $1,700 to $8,000.
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 $1,700 to $8,000 with an average monthly rent of $2,644.
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 $3,624, while Three Bedroom Homes, Condos, and Townhomes for rent range from $2,000 to $8,000. Four Bedroom Single-Family rentals are also available starting from $2,250 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
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.
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.
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.
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.