Cheap Apartments for Rent near Magdalena, NM from $500 (62 Rentals)

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

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.

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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.

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Nine-O-Nine Apartments
$1,195 - $1,395
Total Monthly Price

Total Monthly Price

Base Rent
$1,195 - $1,395
Total Monthly Price
$1,195 - $1,395
1 to 2 Bedroom Apartments Available Now

Nine-O-Nine Apartments

909 Tijeras Ave NWAlbuquerque, NM 87102
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Diamond Mesa
$1,413 - $9,261
Total Monthly Price

Total Monthly Price

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$1,413 - $9,261
Total Monthly Price
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1 to 4 Bedroom Apartments Available Now

Diamond Mesa

2300 Diamond Mesa Trl SWAlbuquerque, NM 87121
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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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Canon de Arrowhead
1 to 3 Bedroom Apartments

Canon de Arrowhead

1700 Market St NWAlbuquerque, NM 87120
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University Village
Studio Apartments

University Village

1901 University Blvd SEAlbuquerque, NM 87106
Corporate Housing
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509 Girard Terrace
Studio to 2 Bedroom Apartments

509 Girard Terrace

509 Girard Blvd SEAlbuquerque, NM 87106
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Adobe Manor Apartments
Studio Apartments

Adobe Manor Apartments

7412 Central Ave SWAlbuquerque, NM 87121
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Route 66 Headquarters
Studio to 1 Bedroom Apartments

Route 66 Headquarters

9317 Central Ave NWAlbuquerque, NM 87121
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Pine St Studios
Studio to 2 Bedroom Apartments

Pine St Studios

414 Pine St SEAlbuquerque, NM 87106

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.

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Tierra Pointe
Studio to 3 Bedroom Apartments

Tierra Pointe

6901-6901 Los Volcanes Rd NWAlbuquerque, NM 87121
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Don Quixote Apartments
Studio to 2 Bedroom Apartments

Don Quixote Apartments

1811 Lead Ave SEAlbuquerque, NM 87106
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El Campo Apartments
Studio to 1 Bedroom Apartments

El Campo Apartments

5800 Central Ave SWAlbuquerque, NM 87105
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Volcanes Commons
1 to 3 Bedroom Apartments

Volcanes Commons

6901 Glenrio Rd NWAlbuquerque, NM 87121
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Ceja Vista Senior 55+
1 to 2 Bedroom Apartments

Ceja Vista Senior 55+

10001 Ceja Vista Rd SWAlbuquerque, NM 87121
Senior Living
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Imperial
Studio to 2 Bedroom Apartments

Imperial

205 Silver Ave SWAlbuquerque, NM 87102
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1206 Cuba Rd
1 Bedroom Apartments

1206 Cuba Rd

1206 Cuba RdSocorro, NM 87801
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Continental Flats
1 to 2 Bedroom Apartments

Continental Flats

1201-1229 Palomas Dr SEAlbuquerque, NM 87108

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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Magdalena, NM Local Guide

Cheapest Available Magdalena Apartments for Rent and Nearby

 

The cheapest available apartment rental in Magdalena, NM is a Studio unit found at Diamond Elite Luxury Townhomes in the Southwest Quadrant neighborhood priced from $699. Vail Manor Apartments in the Southeast Heights neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $790. Here is today’s list of the most affordable Magdalena apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Diamond Elite Luxury TownhomesStudio/1 BathStudio,1BA$699
Vail Manor ApartmentsStudioStudio,1BA$790
La Vida NuevaStudiosStudio,1BA$800
Sage at 6010 x 1 CStudio,1BA$815
Somerset ParkStudioStudio,1BA$822
Tierra PointeS1Studio,1BA$853
Silver Gardens Apartments1 Bedroom (50%)1BR,1BA$865
The French Quarter1x1 Classic (630sqft) RH1BR,1BA$880
Silver Moon LodgeStudioStudio,1BA$897
Las Brisas1 Bed, 1 Bath A (60% Income Restricted)1BR,1BA$915

Best Value Apartments for Rent in Magdalena, NM and Nearby

As of August 26, 2026 the best value apartment in the Magdalena area is the $1.27 price per square foot 5 Bed/5 Bath TH Model at Diamond Elite Luxury Townhomes in the in the Southwest Quadrant neighborhood starting from $2,500. The second greatest value Magdalena apartment is the Three Bedroom Model at Taylor Ridge Apartments starting at $1,600 with a $1.28 price per square foot in the Southwest Quadrant neighborhood. Here is today’s list of the best values for Magdalena apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Diamond Elite Luxury Townhomes5 Bed/5 Bath TH5BR,5BA$1.27
Taylor Ridge ApartmentsThree Bedroom3BR,2BA$1.28
Canon de Arrowhead2 bedroom 2 bath2BR,2BA$1.25
Marquee Village ApartmentsKaloDuo2BR,1BA$1.51
Generations at West MesaTwo Bedroom One Bathroom 768 Sq Ft2BR,1BA$1.34
Zodiac Apartments2BR/1.0BA2BR,1BA$1.57
Welcome Home To Rio Volcan!1 bedroom 1 bath1BR,1BA$1.38
The French Quarter1 x1 Reno (630Sqft)1BR,1BA$1.40
Las Brisas1 Bed, 1 Bath A (60% Income Restricted)1BR,1BA$1.50
Morgan St4781BR,1BA$1.58

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.

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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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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.

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

Explore Magdalena, NM Rentals by Map

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See the most popular apartments and homes in Magdalena, NM

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Frequently Asked Questions about Cheap Magdalena Apartments

What is the Cheapest Studio apartment in Magdalena?

Currently the most affordable Cheap Studio Apartment in Magdalena is at Diamond Elite Luxury Townhomes listed at $699.

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

The lowest price for a Cheap One Bedroom Magdalena Apartment is $865 at Silver Gardens Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Magdalena is starting from $1,031 at Generations at West Mesa.

What is the most affordable Magdalena Three Bedroom Apartment?

The best deal on a cheap Magdalena Three Bedroom Apartment rental is at Canon de Arrowhead and starts from $1,331.

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

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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.

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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.

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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.

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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.