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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
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  • 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
    Pet friendly
  • a building with a sign and a tree in front of it
    Ask for pricing
    Verified Listing

    1500 Pacheco Street, Sante Fe, NM 87505
    Pet friendly
  • 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
    Pet friendly
  • an empty playground in front of an apartment building
    Ask for pricing
    Verified Listing

    1200 Dickerson SE, Albuquerque, NM 87106
4-0-state
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Frequently asked questions

When were prices and availability in New Mexico last updated?

Prices and availability in New Mexico were last updated on 5 Jun 2026.

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

In New Mexico, 30% of the residents are renting compared to 70% owning a home, according to data from the U.S. Census Bureau. Large-scale apartment buildings with more than 50 units represent 10% of New Mexico's rentals, 44% are small-scale complexes with under 50 units, and 34% are single-family rentals.