Most Affordable Neighborhoods in Albuquerque, NM

Some of the cheapest neighborhoods in Albuquerque are South San Pedro, Montgomery Plaza, and Netherwood Park. These neighborhoods offer some of the lowest rent prices in Albuquerque, making them ideal for renters on a budget. As of April 22, 2025, the average rent in Albuquerque is $1,154, which is 0.3% 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

$927/Month

Year-Over-Year Rent Change

1.3%

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.

Montgomery Plaza

Average Rent

$1,039/Month

Year-Over-Year Rent Change

1.5%

TransitScore® Rating

34/100

Units Available

49 Rentals

Montgomery Plaza is an affordable neighborhood in Albuquerque with an average rent price of $1,039. Compare this to the city average of $1,154. In the past year, rent prices have increased by 1.5%. Montgomery Plaza provides easy access to Central NM C.C., WTC, Rio Grande Community Farm, and Univ. of Phoenix, Albuquerque. It’s a somewhat walkable neighborhood with a WalkScore® of 57.

Netherwood Park

Average Rent

$1,044/Month

Year-Over-Year Rent Change

8.5%

TransitScore® Rating

30/100

Units Available

49 Rentals

If you’re looking for a great, affordable neighborhood in Albuquerque, Netherwood Park might be the perfect place! It has an average rent price of $1,044, while the city’s average stands at $1,154. In the last year, prices have decreased by 8.5%. Netherwood Park is near UNM Observatory, Central NM C.C., Montoya, and The Altura Shops.

Midtown Albuquerque

Average Rent

$1,082/Month

Year-Over-Year Rent Change

4.6%

TransitScore® Rating

29/100

Units Available

102 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

$1,216/Month

Year-Over-Year Rent Change

1.6%

TransitScore® Rating

37/100

Units Available

892 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.

Del Norte

Average Rent

$1,353/Month

Year-Over-Year Rent Change

1.4%

TransitScore® Rating

34/100

Units Available

63 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.

Academy Acres North

Average Rent

$1,362/Month

Year-Over-Year Rent Change

6.2%

TransitScore® Rating

28/100

Units Available

54 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.

Seven Bar Ranch

Average Rent

$1,365/Month

Year-Over-Year Rent Change

4.1%

TransitScore® Rating

25/100

Units Available

86 Rentals

Seven Bar Ranch is a top choice for budget-conscious renters for a variety of reasons. The average rent in Seven Bar Ranch is $1,365 while the city average is $1,154. This is a -4.1% difference from last year. Residents enjoy convenient access to Albuquerque Balloon Museum, Albuquerque International Sunport, and Rio Grande Community Farm. The neighborhood is considered somewhat walkable with a WalkScore® of 64.

Raynolds Addition

Average Rent

$1,371/Month

Year-Over-Year Rent Change

1.6%

TransitScore® Rating

52/100

Units Available

48 Rentals

When you’re looking for a great Albuquerque neighborhood on a budget, check out Raynolds Addition. The average rent is $1,371, compared to the city average of $1,154. Rent prices have increased by 1.6%. Raynolds Addition is convenient to Tingley Beach, Central NM C.C., Albuquerque, and Albuquerque International Sunport. The community is walkable with a WalkScore® of 93.

Downtown Albuquerque

Average Rent

$1,390/Month

Year-Over-Year Rent Change

1.6%

TransitScore® Rating

45/100

Units Available

68 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.

Ready to make your move to Albuquerque? Check out the rent specials, price drops, and great deals on ApartmentFinder.com!

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.