Average Rent in Albuquerque 2026
The average rent in Albuquerque, NM is $1,000 for a 1-bedroom, $1,250 for a 2-bedroom, and $1,550 for a 3-bedroom apartment in 2026. The cost of living in Albuquerque is 9% below the national average. To afford a 1-bedroom apartment here using the 30% rule, you need an annual income of at least $40,000.
Albuquerque Rent Prices by Bedroom
1 Bedroom
$1,000
per month
2 Bedrooms
$1,250
per month
3 Bedrooms
$1,550
per month
Cost of Living in Albuquerque
91
Cost of Living Index (100 = national average)
Albuquerque's cost of living index is 91, which is 9% below the national average. This index factors in housing, groceries, transportation, healthcare, and utilities. A higher number means you need more income to maintain the same standard of living compared to the national average.
Albuquerque at a Glance
Population
564K
Median Income
$52,480
COL Index
91
Rent Control
No
How Much Income Do You Need to Rent in Albuquerque?
The widely accepted guideline is to spend no more than 30% of your gross income on rent. Here is the minimum annual income you need to afford an apartment in Albuquerque by bedroom count:
1-Bedroom
$1,000/mo rent
$40,000/yr
2-Bedroom
$1,250/mo rent
$50,000/yr
3-Bedroom
$1,550/mo rent
$62,000/yr
Based on the 30% rule: monthly rent should not exceed 30% of gross monthly income.
How Much You Save with a Roommate in Albuquerque
Save $375/month
by splitting a 2-bedroom with a roommate
Solo 1BR
$1,000
per month
Split 2BR
$625
per person/month
Annual Savings
$4,500
per year
Instead of paying $1,000 for a 1-bedroom on your own, splitting a 2-bedroom ($1,250) with one roommate brings your share to $625. That is $4,500 per year you could put toward savings, investments, or paying down debt.
Rent Control in Albuquerque
Albuquerque, NM does not currently have rent control or rent stabilization laws. Landlords can raise rent by any amount at lease renewal, though they are typically required to provide advance notice (usually 30-60 days). If you are concerned about rent increases, consider negotiating a longer lease term for price stability.
Rent Calculators for Albuquerque Renters
Use these free calculators to plan your Albuquerque rental budget, split rent with roommates, and check if you qualify for an apartment.
Rent Affordability Calculator
Find out how much rent you can afford based on your income.
Fair Rent Split Calculator
Split rent fairly by room size, features, and income.
Rent-to-Income Calculator
Check if you meet the 3x rent rule landlords require.
Renter Budget Calculator
Build a 50/30/20 budget around your rent payment.
Frequently Asked Questions About Renting in Albuquerque
Is Albuquerque expensive to rent in?
Albuquerque is well below the national average for rents. A 1-bedroom averages $1,000 per month in 2026. Nob Hill and Old Town are popular neighborhoods with higher rents, while the South Valley and Westside offer more affordable options.
How much income do you need to rent in Albuquerque?
Using the 30% rule, you need about $3,333 per month ($40,000 annually) to afford an average $1,000/month 1-bedroom apartment in Albuquerque.
How much can you save by splitting rent with a roommate in Albuquerque?
Splitting a 2-bedroom ($1,250/month) with one roommate brings your share to $625, saving $375 per month or $4,500 per year versus renting a 1-bedroom alone.
Planning to rent in Albuquerque?