Albuquerque, NM is a city that combines Southwestern scenery with friendly communities. Whether you’re looking to explore the great outdoors, learn about the history of a charming city, or live in an affordable, quiet place, this city has something to offer every renter.
The five most affordable neighborhoods in Albuquerque are:
Ridgecrest
Average One Bedroom Rent in Albuquerque: $1,169
Average One Bedroom Rent in Ridgecrest: $922
Located in the Southeast Heights area of Albuquerque, Ridgecrest is a welcoming community that offers renters beautiful homes with even better views. With its proximity to the University of New Mexico and historic U.S. Route 66, this neighborhood is full of lively and energetic residents that make living in this area special.
The desert atmosphere of Ridgecrest is not lost on the architecture and décor of homes in the community. With a range of single and two-story stucco-sided homes, Pueblo-inspired features, and Spanish tile roofs, the homes in this area are as beautiful as they are traditional.
Local green spaces can be found all throughout the community to take your furry friend for a walk or get your daily dose of Vitamin D at Burton Park in the center of the neighborhood. If activity is what you’re looking for, Puerto Del Sol is a 9-hole golf course located on the southwest corner of the community. U.S. Route 66 is a hotspot for local and chain dining and shopping. For the foodies, make sure to check out local favorites Two Fools Tavern, an Irish pub, and popular brunch spot, The Farmacy.
Ridgecrest has multiple options for traveling in and out of Albuquerque. Public transportation is offered on the local ART tram system, running east to west along major commercial areas. Central Avenue and Gibson Boulevard are the main roads that connect the neighborhoods of Southeast Heights to popular shopping and eating areas. If those don’t sound appealing, old reliable U.S. Route 66 will take you right into the heart of Downtown Albuquerque.
Matheson Park
Average One Bedroom Rent in Albuquerque: $1,169
Average One Bedroom Rent in Matheson Park: $926
Matheson Park combines suburban convenience with local natural scenery. Located near the foothills of the Sandia Mountains, Matheson Park is close enough to these mountains for a quick hike, while also being within walking distance of fast-casual restaurant chains and shopping centers. Whether you enjoy the local architecture or are just looking for proximity to Downtown Albuquerque, there is something for everybody to enjoy in this established community.
Locals that live in Matheson Park praise the community for its walkability. Close to restaurants both chain and local, as well as grocery stores that specialize in serving farm-raised eggs, meats, and other local items, everything is within arms reach for residents. Ruben’s Grill Mexican Restaurant & Mariscos and Mrs. Sprinkles Ice Cream Parlor are a couple of the local favorite spots. Keller’s Farm Stores is in the same plaza as these restaurants and offers farm-raised products, as well as made-to-order sandwiches, to their customers. Ross Enchanted Park and the familiarly named Matheson Park offer seven acres of green space and playgrounds to play on. For animal lovers, wildlife like coyotes, lizards, and mule deer can be seen within these foothills.
Education is a point of pride for Matheson Park residents. Matheson Park Elementary School is within walking distance of the neighborhood and has received a B- rating from Niche with Hoover Middle School receiving the same grade. Eldorado High School was ranked the 8th best public school in the Albuquerque School District and has an A rating on Niche. The high school offers humanities courses ranging from film criticism to philosophy to anthropology. A hyper-specific focus is placed on careers in architecture, construction, distribution, and transportation with the school offering different career and technical education pathways.
Access to shopping centers can be found in the neighborhood off Menaul Boulevard and Candelaria Road. Take Juan Tablo Boulevard located right outside the neighborhood on to Interstate 40 for twelve miles and you will find yourself in beautiful Downtown Albuquerque. Local transportation is offered through the ABQ RIDE bus stops that take you just about anywhere in East Albuquerque and Downtown.
McKinley
Average One Bedroom Rent in Albuquerque: $1,169
Average One Bedroom Rent in McKinley: $966
McKinley is the perfect place to call home in Albuquerque if you are looking for accessibility. With its location to parks, schools, commercial districts, and work, residents of this community can get anywhere they want to go from this neighborhood. The University of New Mexico, the Coronado Mall, and the Air Force Base are large draws for the community. Because of the job and educational opportunities so close to the neighborhood, it houses a diverse group of residents.
Grisham Park and Villela Park are within walking distance and offer a range of activities for residents to participate in such as soccer, pickleball, playgrounds, and open green spaces. West of the community residents can explore the portion of the Rio Grande that flows through the state or head east into the Sandia Mountains, only 10 minutes away. Residents of McKinley say the sunset in the mountains is unlike anything you have ever seen- perfect for fans of natural scenery.
McKinley is centrally located to prime shopping and dining locations. Carlisle Boulevard hosts plazas that contain a multitude of shops from restaurants to grocery stores. Regional food chains like Garcia’s Kitchen, along with big-box stores like Costco, Walmart, and The Home Depot, can be found off Pan American Freeway. The local favorite in this community is Volare Rooftop Bar, which serves gourmet bar food, craft cocktails, and has brews on tap- the perfect place to meet up with friends and soak in the mountain views!
About 2.5 miles away from the neighborhood lies access to Interstates 25 and 40. Montclaire Drive and Candelaria Road are perfect for those whose chosen form of transportation is biking, with designated bike lanes formed down both roads. Public transportation is also offered by the ABQ Ride bus lines with stops located throughout the community.
South San Pedro
Average One Bedroom Rent in Albuquerque: $1,169
Average One Bedroom Rent in South San Pedro: $995
If you are looking for a community that feels like a family, look no further than South San Pedro. The residents of South San Pedro speak about their neighborhood association with a point of pride. With an uplifting community feel and located only seven miles east of Downtown Albuquerque, South San Pedro is the perfect place to settle in New Mexico.
Local parks in the neighborhood such as Jack and Jill Park and Wilson Park provide residents with open green spaces and playgrounds. The latter includes a local favorite outdoor public pool, perfect to cool off in after a hot day in the park. New Mexico favorite, The Downs Racetrack & Casino, hosts live horseracing and the state fair every year, and is located just north of Louisiana Boulevard. Along with its many sightseeing attractions, the community has taken on a project to convert more than 60 alleyways into parks and walking trails. This is just one of the many ways residents of South San Pedro come together as a community.
South San Pedro is a hub for local and international cuisine. Ranging from Middle Eastern to Vietnamese food, there is a restaurant for everyone to find their new favorite dish. Popular spots include a Vietnamese café called Coda Bakery, a Mexican restaurant on Gibson Boulevard, and multiple international grocers like Bombay Spice and Central Mercado. Locally owned shops and businesses can be found on Central Avenue, along with several large shopping malls.
Central Avenue is the neighborhood’s closest main road, with Interstate 40 landing only two miles away. Both roads offer residents easy access to Downtown Albuquerque, only seven miles away. Although no public transit is offered throughout the area, easy access to main roads and plenty of shopping to choose from lets residents enjoy their suburban seclusion, unless they are looking for some downtown excitement!
Nob Hill
Average One Bedroom Rent in Albuquerque: $1,169
Average One Bedroom Rent in Nob Hill: $1,280
Located in the heart of Central Avenue, Nob Hill is the place to live if you are looking for all kinds of entertainment. Surrounded by no shortage of restaurants, bars, cafes, bookstores, clubs, and antique stores, there is never a dull day for residents of this neighborhood.
The Nob Hill Neighborhood Association calls their community “Albuquerque’s Most Fabulous Neighborhood,” and they are not kidding. A dining hotspot in the area is M’tucci’s Bar Roma, which now operates in a historic building that once housed a Ford dealership. Little Bear Coffee is known for its coffee and pastries, then transforms at night into Little Bear PM Neighborhood Bar where you can enjoy your new favorite cocktail. The Historic Lobo Theater & Event Center is the place to be if you like karaoke, comedy, classic movies, or their Sunday specialty, brunch, and a movie. Local thrift and antique stores can be found throughout the neighborhood where residents can shop secondhand for their books, music, and furniture. Nob Hill is the gift that keeps on giving.
Central Avenue hosts multiple events at various times throughout the year that residents of Nob Hill have exclusive access to. The Route 66 Summerfest in July features live music on multiple stages, food trucks, and more. If that doesn’t excite you, in December there is a Twilight Night Parade that serves as a holiday celebration featuring hundreds of brightly lit vehicles, marching bands, and dance teams.
For those who love to get in their physical activity outside, Nob Hill has recently renovated Morningside Park, located on the south side of the neighborhood. The new park will include a new playground for kids, a zipline feature, and fresh lighting so everyone is safe at all hours of the day. If you like games, head over to Wellesley Park where you will find more recreational space along with two tennis courts to show off your swinging skills.
Transportation in and out of Nob Hill has never been easier for residents. The walkability of the neighborhood and city alike is one of the major draws for this community. Public transit is offered by the ART bus lines that run through the neighborhood, and renovated bike lanes both in the neighborhood and down Central Avenue offer comfortable travel for everyone. If driving is more your speed, access to Interstate 25 is located just outside the neighborhood.
Apartment rent data provided by Costar Group’s June 2025 reports.
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