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Average Rent in 87108, Albuquerque, NM

Home  »  NM  »  Albuquerque  »  87108

Current Versus Historical 87108, Albuquerque, NM Rents

87108 rentals average $875 for a 1-bedroom rental to $0 for a 3-bedroom rental. The median price of all currently available listings is $915, or roughly $1 per square feet.
For the apartment units and housing in May 2024, median rents have been roughly unchanged over the last year. Studio rentals prices have decreased by $88 (-12.38%) year-over-year from $713 to $625. 1-bedroom rentals prices have decreased by $37 (-4.49%) year-over-year from $832 to $795. 2-bedroom rentals prices have increased by $0 (0.00%) year-over-year from $940 to $940. 3-bedroom rentals prices have increased by $178 (9.78%) year-over-year from $1,815 to $1,993. 4-bedroom rentals prices have increased by $392 (22.46%) year-over-year from $1,746 to $2,138. Note that this figure includes all active and rented listings throughout the month.
Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone down by 7.36% this month. 1-bedroom rents have gone up by 2.25% this month. 2-bedroom rents have gone down by 3.66% this month. 3-bedroom rents have gone up by 4.18% this month. 4-bedroom rents have gone down by 0.19% this month.
Beds
Price / Sqft
 May 2024 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
1 BR $1.34 $795 $832 (-4.49%) $673 (18.19%)
2 BR $1.25 $940 $940 (0.00%) $750 (25.33%)

Historical Rents in 87108, Albuquerque, NM

Studio
1 Bed
2 Bed
3 Bed
4 Bed

Top Cities Near 87108

There are a total of 1 cities nearby 87108. The average rent in 87108 is currently $1,250 per month. Our records show that Albuquerque, NM, with an average rent of $1,250, is the most affordable city nearby. In contrast, the most expensive city near 87108, Albuquerque, NM is Albuquerque, NM. Monthly rents here are on average $1,250 per month.

Let's compare 87108, Albuquerque, NM's rent against other top cities nearby by bedroom size. Typically, rent for studios in 87108, Albuquerque, NM is inf% more affordable than other cities nearby. One bedrooms are about 8.29% more affordable. Two bedrooms in 87108, Albuquerque, NM are about 31.58% more affordable. Finally, rent for three bedrooms are about inf% more affordable. Want more information? Check out the top 1 cities near 87108, Albuquerque, NM in the following chart.
City Studio 1 Bed 2 Bed All
Albuquerque, NM $828 $948 $1,250 $1,250

Top Neighborhoods Near 87108



View the following chart for more information.
Neighborhood Studio 1 Bed 2 Bed All

Top Counties Near 87108

The average rent for rentals in these counties is $1,263. That's roughly around $1 per sqft. The county that is the most affordable is Bernalillo, NM. It's average rent per month is $1,263. Vice versa, with an average rent of $1,263, Bernalillo, NM is the most expensive county by 87108, Albuquerque, NM.

Typically, rent for studios in 87108, Albuquerque, NM is inf% more affordable than other counties nearby. In comparison, rent for one bedroom listings in 87108, Albuquerque, NM is 8.57% more affordable than other counties nearby. Finally, rent for two bedrooms in 87108, Albuquerque, NM is 31.58% more affordable than other counties nearby. We've listed all of these counties in the chart below.
County Studio 1 Bed 2 Bed All
Bernalillo, NM $828 $950 $1,250 $1,263

Top Zipcodes Near 87108



You can view the average rent breakdown for each zipcode by bedroom size.
Zipcode Studio 1 Bed 2 Bed All

Frequently Asked Questions - 87108 Average Rents

What is the average rent price in 87108, Albuquerque, NM?
The average monthly rental price for 87108, Albuquerque, NM apartments for rent is approximately $915. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.
Do 87108, Albuquerque, NM rent prices drop in winter?
Yes! On average we see a 3.4% drop in rental prices between the peak summer months and the slower winter months. With the added bonus of decreased competition from other renters looking to move, winter is generally considered the best time of the year to find an apartment for rent in 87108, Albuquerque, NM.
How much is a studio apartment in 87108, Albuquerque, NM?
The average monthly rental price for studio apartments is $0 and an average price per square feet of $0.00. There are a total of 0 studio apartment listings currently available for rent in 87108.
How much is a one bedroom apartment in 87108, Albuquerque, NM?
The average monthly rental price for one bedroom apartments is $875 and an average price per square feet of $1.34. There are a total of 6 one bedroom apartment listings currently available for rent in 87108.
How much is a two bedroom apartment in 87108, Albuquerque, NM?
The average monthly rental price for two bedroom apartments is $950 and an average price per square feet of $1.25. There are a total of 5 two bedroom apartment listings currently available for rent in 87108.
How have rent prices in 87108, Albuquerque, NM changed this year?
Rent prices for rentals in 87108, Albuquerque, NM can fluctuate yearly. Specifically, studio rental prices have changed by -0.12%, one bedroom rental prices have changed by -0.04%, two bedroom rental prices have changed by 0.00%, and three bedroom rental prices have changed by 0.10% year-over-year.
What is a reasonable rent price in 87108, Albuquerque, NM?
A reasonable rent price in 87108, Albuquerque, NM is around $732/month. You can search for these reasonably priced rental listings on RentHop.
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