Union 505
801 Locust Pl NE,
Albuquerque, NM 87102
$744 - $1,579
Studio - 2 Beds
Rental Market Trends in Albuquerque, NM
What is the average rent in Albuquerque, NM?
$1,148/month
Average Rent
667 Sq Ft
Average Apartment Size
-1.1%
Decrease in the Last Year
As of December 2025, the average rent in Albuquerque, NM is $1,148 per month. This is 30% lower than the national average rent of $1,632/month, making renting in Albuquerque more affordable than most cities in the US. When you rent an apartment in Albuquerque, you can expect to pay about $867 per month for a studio, $1,148 for a one-bedroom apartment, and around $1,428 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,842 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Albuquerque, NM?
In the past year, rent has decreased by 1.1%, which averages out to $12 less per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated December 2025
Legend
2024
2025
Rent Ranges in Albuquerque, NM
Last Updated December 2025
$700 - $1,000
Most rental prices fall within this range
Percentage*
Rent Range
23%
Below $700/month
35%
$700 - $1,000/month
28%
$1,001 - $1,500/month
11%
$1,501 - $2,000/month
2%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Albuquerque?
Based on current rent prices, Fair West, South San Pedro and Ridgecrest are the most affordable neighborhoods in Albuquerque.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Albuquerque?
Based on current rent prices, Quail Springs, Eagle Rock Estates and Nor Este are the most expensive neighborhoods in Albuquerque.
Neighborhood
Average Rent
Average Sq Ft
Which Albuquerque neighborhoods have the most rentals available?
The neighborhoods in Albuquerque with the most apartments available are East Albuquerque, Northeast Heights and North Valley .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Albuquerque, NM?
Because the average rent in Albuquerque is $1,148, you’ll want to make about $3,826 per month or $45,912 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
Cost of Living
The cost of living in Albuquerque, NM is 3.7% lower than the national average. Generally, housing in Albuquerque is 9.9% less expensive than the national average, with rent falling between $867 - $1,842. You can expect to pay 2.2% less for groceries, 15.9% less for utilities, and 7.7% less for transportation.
How does Albuquerque, NM compare to other nearby cities and neighborhoods?
Use the tool below to compare Albuquerque, NM to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
$788/month
-
One Bedroom
$795/month
-
Two Bedroom
$1,033/month
-
Three Bedroom
-
-
Nearby City Rent Trends
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New Earth Residential
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312
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Engel Realty Company
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in November 2025.
* Percentages may not total 100 due to rounding.