Apartments for Rent in New Mexico under $1500
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1 bd $1,410+Base rent3.5 (24)8300 Wyoming Boulevard NE, Albuquerque, NM 87113Apply online • Pet friendly • Dishwasher
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1 bd $1,330+Base rent4.5 (26)201 Pinnacle Drive SE, Rio Rancho, NM 87124Apply online • Pet friendly
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1 bd $1,440+Base rent4.0 (33)6000 NE Cortaderia Street, Albuquerque, NM 87111Apply online • Pet friendly
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1 bd $1,425+Base rent4.0 (30)2500 Sawmill Road, Santa Fe, NM 87505Apply online • Pet friendly
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1 bd $1,010+2 bd $1,230+Base rent4.0 (28)8401 Spain Road NE, Albuquerque, NM 87111Apply online • Pet friendly
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Studio $8221 bd $9422 bd $1,098Base rent3.5 (7)1201 Madeira Dr. SE, Albuquerque, NM 87108Apply online • Pet friendly • Pool
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1 bd $928+2 bd $1,087+Base rent4.5 (40)3011 Jane Pl NE, Albuquerque, NM 87111Apply online • Pet friendly • Parking
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1 bd $1,270+Base rent3.5 (14)9270 Eagle Ranch Road NW, Albuquerque, NM 87114Apply online • Pet friendly • Parking
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1 bd $1,249+Base rent3405 Calle Cuervo NW, Albuquerque, NM 87114Apply online • Pet friendly • Parking
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1 bd $95+2 bd $1,460+Total monthly cost5800 Eubank Blvd NE, Albuquerque, NM 87111Apply online • Pet friendly • Fitness center
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Studio $969+1 bd $1,249+2 bd $1,449+Base rent4.5 (47)9125 Copper Ave NE, Albuquerque, NM 87123Apply online • Pet friendly
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1 bd $1,410+Base rent3.5 (24)8300 Wyoming Boulevard NE, Albuquerque, NM 87113Apply online • Pet friendly • Dishwasher
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1 bd $1,0542 bd $1,244Base rent4.5 (39)3501 Atrisco Drive NW, Albuquerque, NM 87120Apply online • Pet friendly • Fitness center
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1 bd $1,192+2 bd $1,399+Total monthly cost4.5 (13)7600 Montgomery Boulevard NE, Albuquerque, NM 87109Apply online • Pet friendly • Fitness center
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1 bd $1,349+2 bd $1,479+Base rent4.5 (11)4129 S. Meadows Road, Santa Fe, NM 87507Apply online • Pet friendly • Parking
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1 bd $1,327+2 bd $1,494+Total monthly cost4.0 (22)5324 San Mateo Blvd. NE, Albuquerque, NM 87109Apply online • Pet friendly • Parking
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1 bd $1,330+Base rent4.5 (26)201 Pinnacle Drive SE, Rio Rancho, NM 87124Apply online • Pet friendly
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1 bd $1,030+2 bd $1,190+Base rent3.0 (16)6001 Topke Place NE, Albuquerque, NM 87109Apply online • Pet friendly • Fitness center
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Studio $857+1 bd $1,023+2 bd $1,279+Total monthly cost3.5 (39)801 Locust Place NE, Albuquerque, NM 87102Apply online • Pet friendly • Fitness center
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Studio $1,322+1 bd $1,354+Total monthly cost4.0 (17)10600 Cibola Loop NW, Albuquerque, NM 87114Apply online • Pet friendly • Parking
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1 bd $1,220+Base rent4.5 (10)7100 Louisiana Blvd NE, Albuquerque, NM 87109Apply online • Pet friendly • Parking
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1 bd $1,440+Base rent4.0 (33)6000 NE Cortaderia Street, Albuquerque, NM 87111Apply online • Pet friendly
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1 bd $1,216+Total monthly cost4.0 (43)9180 Coors Blvd, NW, Albuquerque, NM 87120Apply online • Pet friendly • Parking
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1 bd $1,013+2 bd $1,257+Total monthly cost4.0 (22)12021 Skyline Road NE, Albuquerque, NM 87123Apply online • Pet friendly • Pool
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Studio $946+1 bd $1,084+2 bd $1,404+Total monthly cost4.0 (21)4401 Morris Street NE, Albuquerque, NM 87111Apply online • Pet friendly • Fitness center
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Frequently asked questions
When were prices and availability in New Mexico last updated?
Prices and availability in New Mexico were last updated on 3 Aug 2026.
What are the best apartments in New Mexico?
The best apartments in New Mexico are: Broadstone Towne Center, Arterra, Links at High Resort, Altezza High Desert and Vizcaya.
What type of rental buildings are in New Mexico?
In New Mexico 30% of the housing is rented out compared to 70% of homes are owned, according to the most recent Census Bureau estimates. 10% of New Mexico's apartments are found in large buildings of 50 units or more, 44% are located in smaller apartment complexes with less than 50 units, and 34% are single-family rentals.
Renting apartments in New Mexico under $1,500
Searching for apartments for rent in New Mexico under $1,500 is not an easy task, but luckily you have come to the right place. Whether you are a student on a budget, a young professional on the move, or simply a frugal person, RentCafe can help you find what you are looking for. Just make sure you know what you consider non-negotiable and what you can compromise on. Your new home is just a few clicks away. In New Mexico, where the average rent is $1,504 per month, there are 1,194 units available for less than $1,500. Click on any of these units to see pictures, floor plans, amenities and more. After you have picked your favorite, you can contact the property to check availability. Considering that you are trying to spend as little as possible, looking at 1 bedroom apartments and studio apartments might be a good idea.
We’ll help you find the cheapest rental near you
Finding a nice cheap apartment is by no means impossible. You just have to be patient. Your “apartments near me under $1,500” search can bear fruit sooner than you think if you look carefully and check our site often. You never know when discount deals and special offers might pop up. Keep in mind that you are not the only one looking for an affordable apartment in New Mexico. Choose “Save Search” to receive the latest apartments available directly to your inbox. This way, you will be able to stay one step ahead of the competition. With the cheapest apartments in New Mexico going for $725 per month, there are great deals waiting to be discovered. Feeling lucky? Expand your search to 2 bedroom apartments and 3 bedroom apartments as well for more space.