Cheap Apartments for Rent in Rio Rancho, NM from $700 (23 Rentals)

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

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Sandia Vista
2 Bedroom Apartments

Sandia Vista

492 Camino Don Tomas SBernalillo, NM 87004
  • Utilities Included
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Arroyo Villas
2 to 3 Bedroom Apartments

Arroyo Villas

4701 Irving Blvd NWAlbuquerque, NM 87114
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Showing Results 1-23, Page 1 of 1

Rio Rancho, NM Local Guide

Cheapest Available Rio Rancho Apartments for Rent

 

The cheapest available apartment rental in Rio Rancho, NM is a 1 Bed unit found at Felician Villa I - Senior 55+ in the Sunrise Village at Northern Meadows neighborhood priced from $929. Felician Villa II - Senior 55+ in the Sunrise Village at Northern Meadows neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $929. Here is today’s list of the most affordable Rio Rancho apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Felician Villa I - Senior 55+One Bedroom1BR,1BA$929
Felician Villa II - Senior 55+One Bedroom1BR,1BA$929
Casa de Encantada Senior ApartmentsOne Bedroom1BR,1BA$936
The PanoramaStudio AStudio,1BA$970
Blue Agave VillasThe Grove1BR,1BA$1,095

Best Value Apartments for Rent in Rio Rancho, NM

As of March 27, 2025 the best value apartment in the Rio Rancho area is the $1.07 price per square foot 6016 Park S Pl NW Model at 6016 Park S Pl NW in the in the Paradise Hills neighborhood starting from $2,565. The second greatest value Rio Rancho apartment is the 6140 Park Hill Ave NW Model at 6140 Park Hill Ave NW starting at $2,385 with a $1.04 price per square foot in the Paradise Hills neighborhood. Here is today’s list of the best values for Rio Rancho apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
6016 Park S Pl NW6016 Park S Pl NW4BR,2.5BA$1.07
6140 Park Hill Ave NW6140 Park Hill Ave NW4BR,2.5BA$1.04
1833 Chicoma Rd NE1833 Chicoma Rd NE4BR,2.5BA$1.07
5068 Westfield Dr NE5068 Westfield Dr NE4BR,2BA$1.18
1734 Gallinas Rd NE1734 Gallinas Rd NE4BR,2BA$1.29
7623 Banyon Ave NW7623 Banyon Ave NW4BR,2BA$1.39
3205 Chama Meadows Dr NE3205 Chama Meadows Dr NE3BR,2BA$1.31
2214 Margarita Dr SE2214 Margarita Dr SE3BR,2.5BA$1.37
Felician Villa I - Senior 55+One Bedroom1BR,1BA$1.44
Felician Villa II - Senior 55+One Bedroom1BR,1BA$1.44

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Pet Friendly Lifestyle
Rio Rancho, NM

Ranked #159

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

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Best Local Schools in
Rio Rancho, NM

School data provided by Great Schools

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

Explore Rio Rancho, NM Rentals by Map

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See the most popular apartments and homes in Rio Rancho, NM

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Getting Around Rio Rancho, NM

Walk Score®

29 / 100

Car-Dependent

Most errands require a car

Bike Score®

36 / 100

Somewhat Bikeable

Minimal bike infrastructure

Transit Score®

1 / 100

Minimal Transit

It may be possible to get on a bus

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 Rio Rancho Apartments

What is the Cheapest Studio apartment in Rio Rancho?

Currently the most affordable Cheap Studio Apartment in Rio Rancho is at The Panorama listed at $970.

How much is rent for a Cheap One Bedroom Rio Rancho Apartment?

The lowest price for a Cheap One Bedroom Rio Rancho Apartment is $929 at Felician Villa I - Senior 55+.

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

Today's best deal for a Cheap Two Bedroom Apartment in Rio Rancho is starting from $1,104 at Felician Villa I - Senior 55+.

What is the most affordable Rio Rancho Three Bedroom Apartment?

The best deal on a cheap Rio Rancho Three Bedroom Apartment rental is at The Aspens and starts from $1,600.

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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Understanding Amenity Fees: Know Where You Might Be Able to Save Money

Written by: Amber Kanuckel

With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.

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Renting Smart: Lease Basics Every Renter Needs

Written by: Christine Leonard, Esq.

Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.

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Battling the Butts: Your Guide to the Reality of Smoke-Free Renting

Written by: Andrea Lee Negroni, JD

While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.

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How Your Move-In Inspection Can Protect Your Security Deposit

Written by: Christine Leonard, Esq.

If you’re anything like most people, housing costs represent a huge chunk of your monthly budget. On top of that, moving can be both a stressful and expensive affair.