Cheap Apartments for Rent in Albuquerque, NM from $400 (350 Rentals)

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

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Albuquerque, NM Local Guide

Photo of Justin Habersaat - Editing Staff
Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Albuquerque, NM

Pricing Updated: 03/24/2025

Current apartment rentals in the Albuquerque, NM area range in price from $586 to $8,500 with an overall median price of $2,343. The three Albuquerque neighborhoods with the lowest median rent pricing are Southwest Mesa at $941, Eastside at $730, and University Heights at $638. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Albuquerque Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Southwest Mesa$1,127$94192
Eastside$1,199$730848
University Heights$1,215$6381270
Southeast Heights$1,250$670760
Mountain View$1,400$1,200132
Nob Hill$1,424$6854229
Los Duranes$1,446$6973827
South Los Altos$1,453$6853699
Four Hills Mhp$1,462$7303692
Douglas MacArthur Sandia Plaza$1,464$5863867

Cheapest Available Albuquerque Apartments for Rent

 

The cheapest available apartment rental in Albuquerque, NM is a Studio unit found at Encanto Lofts Apartments in the Netherwood Park neighborhood priced from $649. Cinnamon Tree in the Uptown Albuquerque neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $650. Here is today’s list of the most affordable Albuquerque apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Encanto Lofts ApartmentsJuniper - Junior One Bedroom One BathStudio,1BA$649
Cinnamon TreeStudioStudio,1BA$650
The Villas @ UptownStudio UpgradeStudio,1BA$700
El Pueblo II Apartments1x11BR,1BA$716
1028 Alvarado Dr1 Beds, 1 Baths1BR,1BA$725
Adobe Manor ApartmentsStudioStudio,1BA$725
210 High St NE0 Beds, 1 BathsStudio,1BA$735
Millennium Flats - Washer-Dryer IncludedStudioStudio,1BA$740
Silver Gardens Apartments1 Bedroom (50%)1BR,1BA$740
Desert Creek ApartmentsThe SonoranStudio,1BA$746

Best Value Apartments for Rent in Albuquerque, NM

As of March 24, 2025 the best value apartment in the Albuquerque area is the $1.04 price per square foot 7032 Hearthstone Rd NW Model at 7032 Hearthstone Rd NW in the in the Paradise Hills neighborhood starting from $2,459. The second greatest value Albuquerque apartment is the 2 Beds, 1 bath Model at Taylor Ridge Apartments starting at $1,200 with a $1.09 price per square foot in the Southwest Quadrant neighborhood. Here is today’s list of the best values for Albuquerque apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
7032 Hearthstone Rd NW7032 Hearthstone Rd NW4BR,2BA$1.04
Taylor Ridge Apartments2 Beds, 1 bath2BR,1BA$1.09
Aspen RidgeThree Bedroom Two Bath3BR,2BA$1.02
Four Seasons2br apartment corner unit2BR,1BA$1.10
Canon de Arrowhead2 bedroom 2 bath2BR,2BA$1.18
Theta ApartmentsKaloDuo2BR,2BA$1.14
1038 Texas St NE, Unit A1038 Texas St NE2BR,1BA$1.06
8309 Trumbull Ave SE, Unit B8309 Trumbull Ave SE2BR,1BA$1.09
El Pueblo II Apartments1x11BR,1BA$1.03
1028 Alvarado Dr1 Beds, 1 Baths1BR,1BA$1.12

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Albuquerque Overview

Boasting its status as the most populous city in all of New Mexico, Albuquerque is a historic city known for its universities, beautiful mountains, and for the gorgeous Rio Grande, which it straddles. This city has decades of growth under its belt, and only continues to draw in more settlers as time goes on. This metropolis is also incredibly diverse and continues to make its case as to why finding apartments in Albuquerque are such a great place to settle down.

Why live in Albuquerque, NM?

What makes Albuquerque special is the fact that it's situated right next to the Rio Grande and contains the Sandia Mountains. The city also boasts a large number of museums, galleries, as well as shops and other points of interest. The city has a very diverse population and puts on an annual major art event known as the New Mexico Arts and Crafts Fair. Foodies take heed: Albuquerque has a thriving restaurant scene, with many of its eats featuring in statewide lists of note. And those who love to exercise will be happy to hear that Albuquerque came out as the number one fittest city in the US. Living here is a breeze with many top options for Albuquerque apartments available to residents who move here.

Albuquerque, NM
Population: 560,218

Ranked #32

in US Census Population by City

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Pet Friendly Lifestyle
Albuquerque, NM

Ranked #2

Among cities in New Mexico for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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

Explore Albuquerque, NM Rentals by Map

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See the most popular apartments and homes in Albuquerque, NM

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Getting Around Albuquerque, NM

Walk Score®

56 / 100

Somewhat Walkable

Some errands can be accomplished on foot

Bike Score®

65 / 100

Bikeable

Some bike infrastructure

Transit Score®

28 / 100

Some Transit

A few nearby public transportation options

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Albuquerque Apartments

What is a cheap apartment in Albuquerque?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Albuquerque is under $746.

What is the price of a cheap apartment in Albuquerque?

The cheapest apartment in Albuquerque is El Pueblo II Apartments which is listed at $716, while the average apartment in Albuquerque costs $2,343.

What types of apartments are the cheapest in Albuquerque?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 175,589 regular apartments in Albuquerque that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Albuquerque?

Cheap apartments in Albuquerque have an average cost of $471 which is $1,872 cheaper than the average rent for all rentals in Albuquerque.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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