Cheap Homes for Rent near Pena Blanca, NM from $1,000 (6 Rentals)

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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.

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.

Pena Blanca, NM Local Guide

Cheapest Available Pena Blanca Apartments for Rent and Nearby

 

The cheapest available apartment rental in Pena Blanca, NM is a 2 Beds unit found at Cresta Ranch Apartments in the Tiempo Lindo neighborhood priced from $738. Myrtle Apartments - All Utilities Included has the second lowest priced unit, which is a Studio apartment currently listed from $900. Here is today’s list of the most affordable Pena Blanca apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Cresta Ranch ApartmentsTwo Bedroom - 30% AMI2BR,2BA$738
Myrtle Apartments - All Utilities IncludedStudioStudio,1BA$900
Casitas Del BellaEfficiency w/ stove topStudio,1BA$925

Best Value Apartments for Rent in Pena Blanca, NM and Nearby

As of July 13, 2026 the best value apartment in the Pena Blanca area is the $2.06 price per square foot San Juan Model at South Meadows in the in the Pueblos Del Sol neighborhood starting from $2,746. The second greatest value Pena Blanca 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 Pena Blanca apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
South MeadowsSan Juan3BR,2BA$2.06
The Bluffs at Tierra Contenta4 Bedroom 2 Bathroom4BR,2BA$1.87
Terra at Enchanted Hills2 X 2.5 (1-Car Gar)2BR,2.5BA$1.75
Via Vista Apartment CommunityJade3BR,2BA$1.74
Sandoval Flats2AA (Wheelchair Accessible)2BR,2BA$1.30
Coronado Townhomes2x22BR,2BA$1.96
Cielo Luxury Living ApartmentsOne Bedroom1BR,1BA$1.98
Evergreen Apartments1x1-B1BR,1BA$2.03
Meadowlark Apartments1x11BR,1BA$2.07
Casa de Encantada Senior ApartmentsOne Bedroom1BR,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.

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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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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!

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Frequently Asked Questions about Pena Blanca

What type of rentals are currently available in Pena Blanca?

There are currently 46 Apartments for Rent in Pena Blanca, NM with pricing that ranges from $738 to $4,318. There are also 30 Single Family Homes for rent, Condos, and Townhome rentals currently available in Pena Blanca ranging from $1,050 to $12,500.

What is the current price range for Rental Homes in Pena Blanca?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Pena Blanca ranges from $1,050 to $12,500 with an average monthly rent of $3,852.

How much are larger Three and Four Bedroom Rentals in Pena Blanca?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Pena Blanca range from $853 to $4,318, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,850 to $8,500. 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

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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.

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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.

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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.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.