albuquerque houses for rent - craigslist (2025)

FAQs

Is rent expensive in Albuquerque? ›

When you rent an apartment in Albuquerque, you can expect to pay about $801 per month for a studio, $1,124 for a one-bedroom apartment, and around $1,391 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,720 or more.

Six months into the year, rents in Albuquerque have risen 3.8%. This is a faster rate of growth compared to what the city was experiencing at this point last year: from January to June 2023 rents had increased 1.4%.

Albuquerque, NM Occupied Housing Units

94,192 or 40% of the households in Albuquerque, NM are renter-occupied while 141,999 or 60% are owner-occupied.

The people who are setting the prices for apartments say Albuquerque is facing a supply and demand issue. “There's somewhere around 17,000 units short, in a community to providing full housing,” said Chuck Sheldon, the CEO of T&M Management Group.

THE city of Albuquerque, N.M., is currently undergoing a housing shortage for residents. Mayor Tim Keller recently launched an emergency initiative called Housing Forward in order to encourage the conversion, construction and more access to new housing for all segments of the housing market.

Based on all homes sold in the last 12 months. Homes in Albuquerque have sold for 6.1% more than they did a year ago. Summary: The median home sold price in Albuquerque was $339,606 in June 2024, up 6.1% from last year, and the median price per square foot was $202.

Under state law, local governments do not have the authority to regulate how much landlords can charge in rent or limit rent increases. This statewide preemption means there are effectively no limits on how much landlords can raise rents each year in New Mexico.

The current average minimum wage in the United States is $15.20 per hour. The minimum wage in Albuquerque, New Mexico is currently $12.00 per hour, which is higher than the federal minimum wage of $7.25 per hour.

Why are so many people moving to Albuquerque? ›

New Mexico attracts new residents from all over the country thanks to the beautiful landscape and 310 days of sun each year. The state's rich history, plentiful outdoor recreational activities, and great quality of life are all reasons why people are choosing to move to Albuquerque, New Mexico.

The average monthly rent in Albuquerque is $1,313, while home prices circle around $392,079.

Q: What are the wealthy neighborhoods of Albuquerque? A: The richest part of Albuquerque is the neighborhood of High Desert.

Located near Downtown Albuquerque and historic Old Town, Huning Castle is one of the best neighborhoods in Albuquerque for people of all ages and lifestyles! Residents can choose from a variety of affordable housing options, including apartments, condos, and Spanish Revival-style ranches.

The cost of living in Albuquerque, NM is 1% lower than the state average and 6% lower than the national average. Albuquerque, NM housing is 16% cheaper than the U.S average, while utilities are about 2% less pricey.

Compared to many other cities in the United States, Albuquerque offers relatively affordable housing options. Whether you're looking to rent an apartment or buy a home, the cost of living in Albuquerque is 6% lower than the national average.

Along with low property taxes, state income tax is 31% lower than the national average, making Albuquerque an affordable place to live. As with any city, some areas are more cost-effective than others, but fortunately, a variety of safe, affordable neighborhoods in ABQ are available to choose from.

Albuquerque is a more affordable place to live compared to Santa Fe. Albuquerque has a Cost of Living Index that is 9.2% higher than the national average, whereas Santa Fe is 14% higher than the national average.