Most Affordable Neighborhoods in Albuquerque, NM
Some of the cheapest neighborhoods in Albuquerque are South San Pedro, Netherwood Park, and Montgomery Plaza. These neighborhoods offer some of the lowest rent prices in Albuquerque, making them ideal for renters on a budget. As of March 29, 2025, the average rent in Albuquerque is $1,155, which is 2.6% higher than last year. However, it's important to remember that rental prices can vary significantly based on factors such as location, amenities, and floor plans.
South San Pedro
Average Rent
$939/Month
Year-Over-Year Rent Change
4.7%
TransitScore® Rating
43/100
Units Available
68 Rentals
Home to Wilson Park and several affordable dining options, South San Pedro offers renters a convenient location and affordable prices. Nearby, The Downs Racetrack & Casino provides entertainment just minutes away.
Netherwood Park
Average Rent
$1,023/Month
Year-Over-Year Rent Change
9.4%
TransitScore® Rating
30/100
Units Available
52 Rentals
When you’re looking for a great Albuquerque neighborhood on a budget, check out Netherwood Park. The average rent is $1,023, compared to the city average of $1,155. Rent prices have decreased by 9.4%. Netherwood Park is convenient to American Square, Central NM C.C., Albuquerque, and Albuquerque International Sunport. The community is car-dependent with a WalkScore® of 46.
Montgomery Plaza
Average Rent
$1,043/Month
Year-Over-Year Rent Change
0.8%
TransitScore® Rating
34/100
Units Available
47 Rentals
Montgomery Plaza is an affordable neighborhood in Albuquerque with an average rent price of $1,043. Compare this to the city average of $1,155. In the past year, rent prices have increased by 0.8%. Montgomery Plaza provides easy access to Cinema Center, Central NM C.C., Adv Tech Ctr, and Univ. of Phoenix, Albuquerque. It’s a somewhat walkable neighborhood with a WalkScore® of 57.
Midtown Albuquerque
Average Rent
$1,074/Month
Year-Over-Year Rent Change
0.6%
TransitScore® Rating
29/100
Units Available
97 Rentals
Known for its central location, Midtown Albuquerque places renters near Coronado Center and a host of other shopping destinations. The neighborhood boasts numerous parks and green spaces, perfect for outdoor enthusiasts.
East Albuquerque
Average Rent
$1,224/Month
Year-Over-Year Rent Change
2.7%
TransitScore® Rating
37/100
Units Available
855 Rentals
East Albuquerque attracts renters with its close proximity to attractions like the National Museum of Nuclear Science & History. This vast section of the city includes several smaller neighborhoods like Nob Hill, La Hacienda, and Summit Park. East Albuquerque is home to the University of New Mexico, adding a college town vibe to the area.
Academy Acres North
Average Rent
$1,345/Month
Year-Over-Year Rent Change
9.5%
TransitScore® Rating
28/100
Units Available
50 Rentals
Academy Acres North, with its easy access to the Arroyo del Oso Golf Course, appeals to those who love recreational activities. The neighborhood offers an array of affordable rental options. Shoppers will appreciate nearby retail centers and grocery stores.
Del Norte
Average Rent
$1,363/Month
Year-Over-Year Rent Change
0.2%
TransitScore® Rating
34/100
Units Available
54 Rentals
Situated on the northeast side of Albuquerque, Del Norte features a variety of dining and shopping options in a beautiful setting. This desert neighborhood has fantastic views of the Sandia Mountains. Its strategic location ensures quick commutes and convenient living for renters, situated just over seven miles from downtown.
Downtown Albuquerque
Average Rent
$1,373/Month
Year-Over-Year Rent Change
3.3%
TransitScore® Rating
45/100
Units Available
59 Rentals
Historic Route 66 runs through Downtown Albuquerque, leading to some of the city’s most-loved destinations, including a variety of cafes, restaurants, and the KiMo Theater. Downtown is also home to the Albuquerque Convention Center, along with several hotels, shops, and entertainment venues.
Mesa Del Oso/Promenade
Average Rent
$1,399/Month
Year-Over-Year Rent Change
3.4%
TransitScore® Rating
29/100
Units Available
129 Rentals
Mesa Del Oso/Promenade is north of Kirtland Air Force Base and west of Sandia Park, a popular hiking destination. Residents enjoy a variety of dining and shopping options within walking distance. The area's scenic beauty and friendly vibe make it a desirable place to call home.
Northeast Heights
Average Rent
$1,421/Month
Year-Over-Year Rent Change
4%
TransitScore® Rating
28/100
Units Available
569 Rentals
Renters in Northeast Heights benefit from proximity to the Sandia Mountains and numerous hiking trails. The area is dotted with rural, open spaces and suburban neighborhoods. Local attractions include the Hinkle Family Fun Center and various dining spots.
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Methodology
Transit Score measures access to public transit. Scores range from 0 (minimal transit) to 100 (rider’s paradise). Learn more about the Transit Score methodology. Rental data is sourced from CoStar Group’s Market Trend reports. As a leading authority in commercial real estate information, analytics, and news, CoStar performs in-depth research to build and sustain an extensive database of commercial real estate insights.
We've combined this data with public records to provide the most current rental information available.