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Cheap Apartments for Rent in New Mexico - 72 Rentals available

Apartments Under $500

Apartments Under $600

  • (2)
    220 Nizhoni Blvd, Gallup, NM 87301
    $540 - $570
    • Studio-3 Beds
    • 2 Baths
    Combined Investments, Inc.
    Last updated 5 Nov 2019
    (505) 722-7811
  • (1)
    7220 Central Ave SE, Albuquerque, NM 87108
    $573 - $1,258
    • Studio-2 Beds
    • 1-2 Baths
    MEB Management Services
    Available Today! Last updated 20 Apr 2021
    (844) 692-8204

Apartments Under $700

Apartments Under $800

Apartments Under $900

Apartments Under $1,000

  • 6134 4Th St NW, Albuquerque, NM 87107
    $900
    • Studio-2 Beds
    • 1-2 Baths
    Engel Realty Company, LLC
    Last updated 20 Apr 2021
    (505) 344-5466

Frequently Asked Questions

What is the price of a cheap apartment in New Mexico?

The price range of a cheap apartment is between $455 and $2,928. Find cheap apartments in New Mexico.

How many cheap rentals are available in New Mexico on RENTCafé?

There are 52 cheap rentals available on RENTCafé. Prices and availability in New Mexico were last updated on 19 Apr 2021.

What is the average size of a cheap apartment in New Mexico?

The average New Mexico cheap apartment size is 765 sq. ft.

What are the advantages of renting a cheap apartment in New Mexico?

Cheap apartments in New Mexico are usually less expensive, smaller, and easier to maintain. They also come with lower utility costs.

What are the downsides of renting a cheap apartment in New Mexico?

A cheap apartment in New Mexico offers little storage space and fewer amenities compared to other apartments. You might be interested in studio apartments, 1 bedroom apartments, 2 bedroom apartments or 3 bedroom apartments, or browse all RENTCafé apartments for rent in New Mexico.

New Mexico Demographics

  • Total Population2,107,341
  • Female 1,043,545
    Male 1,063,796
  • Median Age42

Average Rent in New Mexico

  • New Mexico Average Rental Price, April 2021 $989 /mo

New Mexico Apartment Rent Ranges

  • < $5001%
  • $501-$70015%
  • $701-$1,00046%
  • $1,001-$1,50030%
  • $1,501-$2,0007%
  • > $2,0001%

New Mexico Rent Trends

Average Rent Mar / 2018 Jul / 2018 Nov / 2018 Mar / 2019 Jul / 2019 Nov / 2019 Mar / 2020 Jul / 2020 Nov / 2020 Apr / 2021
New Mexico $842 $841 $874 $879 $901 $926 $929 $935 $976 $989
National $1,346 $1,355 $1,359 $1,356 $1,391 $1,398 $1,400 $1,390 $1,395 $1,407
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New Mexico Households

  • Total Number of Households784,913
  • Family 496,324
    Non-family 288,589
  • Children 234,456
    No Children 550,457
  • Average People Per Household2.7
  • Median Household Income$43,142
  • Median Housing Costs Per Month$500

New Mexico Education Statistics

  • No High School6%
  • Some High School40%
  • Some College30%
  • Associate Degree9%
  • Bachelor Degree15%

Looking for a cheap apartment for rent in New Mexico? With RENTCafé, finding an affordable apartment in New Mexico has never been easier. We feature 67 low-priced rentals directly from property managers, with rents lower than the New Mexico average. What is a cheap rent in New Mexico? The average apartment rent in New Mexico is $989 per month so any rental south of $791 would be considered cheap here. On RENTCafé, New Mexico rents go as low as $455/mo.

Finding a home nearby is easier than you think. Check out our Apartments Near Me page and take your pick!