Cheap Homes for Rent in Melrose, NM from $500 (11 Rentals)

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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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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.

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Melrose, NM Local Guide

Cheapest Available Melrose Apartments for Rent and Nearby

 

The cheapest available apartment rental in Melrose, NM is a 2 Beds unit found at 1021 N Mlk Blvd priced from $525. 300-304 Townsgate Plz has the second lowest priced unit, which is a 2 Beds apartment currently listed from $950. Here is today’s list of the most affordable Melrose apartments for rent:

Apartment ListingModel NameBed/BathPriced From
1021 N Mlk BlvdMartin Luther2BR,1BA$525
300-304 Townsgate Plz304 Townsgate2BR,1BA$950
Townsgate Apartments133 Townsgate2BR,1BA$950

Best Value Apartments for Rent in Melrose, NM and Nearby

As of December 25, 2025 the best value apartment in the Melrose area is the $1.06 price per square foot 133 Townsgate Model at Townsgate Apartments in the starting from $950. The second greatest value Melrose apartment is the 304 Townsgate Model at 300-304 Townsgate Plz starting at $950 with a $1.06 price per square foot . Here is today’s list of the best values for Melrose apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Townsgate Apartments133 Townsgate2BR,1BA$1.06
300-304 Townsgate Plz304 Townsgate2BR,1BA$1.06
1021 N Mlk BlvdMartin Luther2BR,1BA$0.66
704 W 13th St, Unit 704 W 13th Street704 W 13th St2BR,1BA$1.15
108 Wallace St, Unit #1108 Wallace St2BR,1BA$1.19
704 N Lea St, Unit #706704 N Lea St1BR,1BA$1.63
818 E 7th St, Unit bldr.818 E 7th St1BR,1BA$1.72

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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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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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.

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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 Melrose, NM Rentals by Map

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Frequently Asked Questions about Melrose

What type of rentals are currently available in Melrose?

There are currently 29 Apartments for Rent in Melrose, NM with pricing that ranges from $450 to $2,100. There are also 36 Single Family Homes for rent, Condos, and Townhome rentals currently available in Melrose ranging from $550 to $1,550.

What is the current price range for Rental Homes in Melrose?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Melrose ranges from $550 to $1,550 with an average monthly rent of $1,021.

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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How to Make Your Apartment Holiday-Ready: Renter-Friendly Tips

Written by: Justin Habersaat

Getting your apartment ready for the holidays can be exciting but sometimes challenging in a smaller space. Here are some modern tips to keep things festive, safe, and inviting this season.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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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.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate!