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Apartments for Rent in New Mexico under $500

Apartments for Rent in New Mexico under $500. 4 Rentals Available
4 Rentals Available
  • a small building with a fence and a sign on it
    Studio $70+
    Base rent
    Verified Listing

    760 E. Chestnut Avenue, Las Cruces, NM 88001
  • a building with a sign and a tree in front of it
    Ask for pricing
    Verified Listing

    1500 Pacheco Street, Sante Fe, NM 87505
  • a sign that says home park in front of a building
    Studio $500
    Base rent
    Verified Listing

    8501 San Joaquin Ave SE, Albuquerque, NM 87108
  • an empty playground in front of an apartment building
    Ask for pricing
    Verified Listing

    1200 Dickerson SE, Albuquerque, NM 87106
4-0-state

Frequently asked questions

When were prices and availability in New Mexico last updated?

Prices and availability in New Mexico were last updated on 17 Apr 2026.

What are the best apartments in New Mexico?
What type of rental buildings are in New Mexico?

In New Mexico 30% of the housing is rented out compared to 70% of homes are owned, according to the most recent Census Bureau estimates. 10% of New Mexico's apartments are found in large buildings of 50 units or more, 44% are located in smaller apartment complexes with less than 50 units, and 34% are single-family rentals.