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 29, 2025, the average rent in Albuquerque is $1,153, which is 0.2% 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
$942/Month
Year-Over-Year Rent Change
2.4%
TransitScore® Rating
43/100
Units Available
57 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
$1,045/Month
Year-Over-Year Rent Change
1.5%
TransitScore® Rating
34/100
Units Available
46 Rentals
If you’re looking for a great, affordable neighborhood in Albuquerque, Montgomery Plaza might be the perfect place! It has an average rent price of $1,045, while the city’s average stands at $1,153. In the last year, prices have increased by 1.5%. Montgomery Plaza is near Central NM C.C., WTC, Central NM C.C., Adv Tech Ctr, and UNM Observatory.
Netherwood Park
Average Rent
$1,056/Month
Year-Over-Year Rent Change
8.5%
TransitScore® Rating
30/100
Units Available
50 Rentals
Netherwood Park is a top choice for budget-conscious renters for a variety of reasons. The average rent in Netherwood Park is $1,056 while the city average is $1,153. This is a -8.5% difference from last year. Residents enjoy convenient access to UNM Observatory, University Plaza, and Meteorite Museum. The neighborhood is considered car-dependent with a WalkScore® of 46.
Midtown Albuquerque
Average Rent
$1,064/Month
Year-Over-Year Rent Change
4.5%
TransitScore® Rating
29/100
Units Available
101 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
$1,214/Month
Year-Over-Year Rent Change
1.6%
TransitScore® Rating
37/100
Units Available
851 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.
Uptown Albuquerque
Average Rent
$1,340/Month
Year-Over-Year Rent Change
0.6%
TransitScore® Rating
38/100
Units Available
56 Rentals
When you’re looking for a great Albuquerque neighborhood on a budget, check out Uptown Albuquerque. The average rent is $1,340, compared to the city average of $1,153. Rent prices have decreased by 0.6%. Uptown Albuquerque is convenient to Central NM C.C., Adv Tech Ctr, Meteorite Museum, and Geology Museum. The community is walkable with a WalkScore® of 80.
Academy Acres North
Average Rent
$1,348/Month
Year-Over-Year Rent Change
6.4%
TransitScore® Rating
28/100
Units Available
59 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
3.8%
TransitScore® Rating
25/100
Units Available
82 Rentals
Seven Bar Ranch is an affordable neighborhood in Albuquerque with an average rent price of $1,365. Compare this to the city average of $1,153. In the past year, rent prices have decreased by 3.8%. Seven Bar Ranch provides easy access to Univ. of Phoenix, Albuquerque, Central NM C.C., Adv Tech Ctr, and Cottonwood Corners Mall. It’s a somewhat walkable neighborhood with a WalkScore® of 64.
Downtown Albuquerque
Average Rent
$1,368/Month
Year-Over-Year Rent Change
0.7%
TransitScore® Rating
45/100
Units Available
70 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.
Raynolds Addition
Average Rent
$1,369/Month
TransitScore® Rating
52/100
Units Available
48 Rentals
If you’re looking for a great, affordable neighborhood in Albuquerque, Raynolds Addition might be the perfect place! It has an average rent price of $1,369, while the city’s average stands at $1,153. In the last year, prices have increased by 0%. Raynolds Addition is near Tingley Beach, Central NM C.C., Albuquerque, and Old Town Plaza.
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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.