Average Rent in Albuquerque, NM

Home  »  NM  »  Albuquerque

Current Versus Historical Albuquerque, NM Rents

Albuquerque rentals average $774 for a studio rental to $2,400 for a 4-bedroom rental. The median price of all currently available listings is $1,197, or roughly $1 per square feet.
For the apartment units and housing in April 2024, median rents have risen over the last year. Studio rentals prices have increased by $84 (11.34%) year-over-year from $741 to $825. 1-bedroom rentals prices have increased by $46 (5.29%) year-over-year from $873 to $920. 2-bedroom rentals prices have decreased by $18 (-1.57%) year-over-year from $1,168 to $1,150. 3-bedroom rentals prices have increased by $118 (6.41%) year-over-year from $1,833 to $1,950. 4-bedroom rentals prices have increased by $88 (3.91%) year-over-year from $2,262 to $2,350. 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 up by 4.70% this month. 1-bedroom rents have gone up by 7.38% this month. 2-bedroom rents have gone up by 4.55% this month. 3-bedroom rents have gone up by 0.95% this month. 4-bedroom rents have gone down by 2.04% this month.
Beds
Price / Sqft
Apr 2024 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
Studio $1.99 $825 $741 (11.34%) $673 (22.52%)
1 BR $1.53 $920 $873 (5.29%) $768 (19.67%)
2 BR $1.31 $1,150 $1,168 (-1.57%) $914 (25.80%)
3 BR $1.33 $1,950 $1,833 (6.41%) $1,462 (33.41%)
4+ BR $1.12 $2,350 $2,262 (3.91%) $1,723 (36.38%)

Historical Rents in Albuquerque, NM

Studio
1 Bed
2 Bed
3 Bed
4 Bed

Top Cities Near Albuquerque



Let's compare Albuquerque, NM's rent against other top cities nearby by bedroom size.
City Studio 1 Bed 2 Bed All

Top Neighborhoods Near Albuquerque



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

Top Counties Near Albuquerque

The average rent for rentals in these counties is $1,200. That's roughly around $1 per sqft. The county that is the most affordable is Bernalillo, NM. It's average rent per month is $1,200. Vice versa, with an average rent of $1,200, Bernalillo, NM is the most expensive county by Albuquerque, NM.

Typically, rent for studios in Albuquerque, NM is on par with the other counties nearby. In comparison, rent for one bedroom listings in Albuquerque, NM is 0.27% more affordable than other counties nearby. Finally, rent for two bedrooms in Albuquerque, NM is 4.14% 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 $774 $922 $1,195 $1,200

Top Zipcodes Near Albuquerque

There are a total of 2 zipcodes in or near Albuquerque, NM. The average rent for all of these zipcodes is $958. A total of 2 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 87108, Albuquerque, NM at $925 per month. In comparison, the zipcode with the most expensive average rent of $990 per month is 87106, Albuquerque, NM.

Studios in these zipcodes have an average rent of $745. That's at least $2 per sqft. Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near Albuquerque, NM is $864 per month. Or in other words, $1 per sqft. Meanwhile, two bedroom apartments will cost you an average of $1,097 per month. Which comes out to $1 per sqft. The following chart includes the top 2 zipcodes in Albuquerque, NM. You can view the average rent breakdown for each zipcode by bedroom size.
Zipcode Studio 1 Bed 2 Bed All
87108, Albuquerque, NM $765 $875 $995 $925
87106, Albuquerque, NM $725 $853 $1,199 $990

Frequently Asked Questions - Albuquerque Average Rents

What is the average rent price in Albuquerque, NM?
The average monthly rental price for Albuquerque, NM apartments for rent is approximately $1,197. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.
Do 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 Albuquerque, NM.
How much is a studio apartment in Albuquerque, NM?
The average monthly rental price for studio apartments is $774 and an average price per square feet of $1.99. There are a total of 37 studio apartment listings currently available for rent in Albuquerque.
How much is a one bedroom apartment in Albuquerque, NM?
The average monthly rental price for one bedroom apartments is $920 and an average price per square feet of $1.53. There are a total of 94 one bedroom apartment listings currently available for rent in Albuquerque.
How much is a two bedroom apartment in Albuquerque, NM?
The average monthly rental price for two bedroom apartments is $1,148 and an average price per square feet of $1.31. There are a total of 98 two bedroom apartment listings currently available for rent in Albuquerque.
How have rent prices in Albuquerque, NM changed this year?
Rent prices for rentals in Albuquerque, NM can fluctuate yearly. Specifically, studio rental prices have changed by 0.11%, one bedroom rental prices have changed by 0.05%, two bedroom rental prices have changed by -0.02%, and three bedroom rental prices have changed by 0.06% year-over-year.
What is a reasonable rent price in Albuquerque, NM?
A reasonable rent price in Albuquerque, NM is around $958/month. You can search for these reasonably priced rental listings on RentHop.
Fair Housing and Equal Opportunity
Fair Housing and Equal Opportunity
© 2009 - 2024 RentHop.com™
Quantcast