Average Rent in Albuquerque, NM
Albuquerque offers affordable desert living with Sandia Mountains as a backdrop. UNM and national labs drive the economy. The city has one of the best rent-to-income ratios among major metros.
+0.5%YoY
Studio
$800
1-Bedroom
$950
2-Bedroom
$1,150
3-Bedroom
$1,400
Market Overview
Year-over-Year Change+0.5%
Vacancy Rate6.5%
Renter Population41%
Median Income$52,920/yr
Rent-to-Income Ratio21.5%
Cost of Living Index87 (US avg: 100)
Market Condition
Renter-Friendly
Market conditions favor renters. Good time to negotiate.
Tenant Protections
- New Mexico Uniform Owner-Resident Relations Act
- Security deposit limited to 1 month rent
- Deposit return within 30 days
- Landlord must maintain premises in habitable condition
Rent by Neighborhood in Albuquerque
Nob Hill
Route 66 corridor with shops, restaurants, and UNM proximity.
Walk Score: 72Safety: 6/10
1-Bed
$1,050
2-Bed
$1,300
3-Bed
$1,600
Downtown
Historic plaza, Alvarado transit center, and growing nightlife.
Walk Score: 78Safety: 5/10
1-Bed
$1,000
2-Bed
$1,250
3-Bed
$1,500
Northeast Heights
Mountain views, established neighborhoods, and Sandia tramway access.
Walk Score: 35Safety: 8/10
1-Bed
$950
2-Bed
$1,150
3-Bed
$1,400
Old Town
Historic district with museums, galleries, and adobe architecture.
Walk Score: 55Safety: 5/10
1-Bed
$900
2-Bed
$1,100
3-Bed
$1,350
Tips for Renting in Albuquerque
- 1Sandia Peak tramway and skiing are 20 minutes from the city
- 2Green chile is a way of life - seriously, it goes on everything
- 3High altitude (5,312 feet) means cooler summers than other desert cities
- 4UNM area has seasonal rental fluctuations tied to university calendar
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