Cheap Homes for Rent in Madrid, NM from $1,100 (10 Rentals)

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Search the lowest-cost Homes available for rent right now in Madrid.

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Madrid, NM Local Guide

Cheapest Available Madrid Apartments for Rent and Nearby

 

The cheapest available apartment rental in Madrid, NM is a Studio unit found at Santa Fe Suites in the Arroyo Chamiso neighborhood priced from $950. Copper Hills in the Foothills neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $954. Here is today’s list of the most affordable Madrid apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Santa Fe SuitesStudioStudio,1BA$950
Copper Hills1x11BR,1BA$954
Casa de Encantada Senior ApartmentsOne Bedroom1BR,1BA$993

Best Value Apartments for Rent in Madrid, NM and Nearby

As of May 16, 2025 the best value apartment in the Madrid area is the $1.44 price per square foot 3 x 3.5 (2-car Gar) Model at Terra at Enchanted Hills in the in the Encantado del Norte Heritage Series neighborhood starting from $2,375. The second greatest value Madrid apartment is the 3x2 Model at Coronado Townhomes starting at $1,995 with a $1.50 price per square foot in the Encantado del Norte Heritage Series neighborhood. Here is today’s list of the best values for Madrid apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Terra at Enchanted Hills3 x 3.5 (2-car Gar)3BR,3.5BA$1.44
Coronado Townhomes3x23BR,2BA$1.50
Camino Real Apartments2a2BR,2BA$1.60
La Ventana2x2-1035-Full Renovation2BR,2BA$1.93
Casa Loma Apartments2x22BR,2BA$1.88
Bluffs at Tierra Contenta2 Bedroom 2 Bath Townhome2BR,2BA$1.76
Altezza High DesertTogano1BR,1BA$1.88
La Mirage Apartment HomesJemez1BR,1BA$1.83
Copper Hills1x11BR,1BA$1.36
Casa de Encantada Senior ApartmentsOne Bedroom1BR,1BA$1.71

Quick Rent Budget Calculator

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Frequently Asked Questions about Madrid

What type of rentals are currently available in Madrid?

There are currently 38 Apartments for Rent in Madrid, NM with pricing that ranges from $950 to $4,600. There are also 34 Single Family Homes for rent, Condos, and Townhome rentals currently available in Madrid ranging from $1,150 to $4,650.

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 $1,150 to $4,650 with an average monthly rent of $2,445.

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 $1,725 to $4,600, while Three Bedroom Homes, Condos, and Townhomes for rent range from $2,250 to $4,650. Four Bedroom Single-Family rentals are also available starting from $3,300 and Four Bedroom Apartments start at $2,420.

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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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.

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Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.

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Rise of Digital Nomads: Remote Work Tips for Apartment Renters

Written by: Brandie Parton

As a digital nomad, you no longer call a set address or office building your home for eight hours of the day or more.