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Apartments for Rent in New Mexico under $500

Apartments for Rent in New Mexico under $500. 7 Rentals Available
7 Rentals Available
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  • 1 bd $441+
    Total monthly cost
    Verified Listing

    4.0 (1)
    10001 Ceja Vista Rd SW, Albuquerque, NM 87121
    Apply online • Pet friendly
  • Ask for pricing
    Verified Listing

    1200 Dickerson SE, Albuquerque, NM 87106
  • Rent specials Only 2 units left
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    Verified Listing

    4.0 (7)
    5710 Avalon Road NW, Albuquerque, NM 87105
    Apply online • Pet friendly
3-0-state
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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 14 May 2026.

What are the best apartments in New Mexico?

The best apartments in New Mexico are: Vizcaya, Arterra, Altitude at Vizcaya, Broadstone Towne Center and Altezza High Desert.

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.