Cheap Apartments for Rent in 87123
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SPECIAL OFFERPET FRIENDLYTotal price$804 - $1,333/mo
1-3 Beds
1-2 BathsTesota Four Hills | 301 Western Skies Dr SE,
Albuquerque, NM 87123
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SPECIAL OFFERPET FRIENDLYTotal price$1,018 - $1,413/mo1-2 Beds1-2 BathsArrowhead Pointe | 12021 Skyline Rd NE,
Albuquerque, NM 87123
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SPECIAL OFFERPET FRIENDLYTotal price$1,107 - $1,607/mo1-3 Beds1-2 BathsTesota Midtown | 200 Figueroa St NE,
Albuquerque, NM 87123
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Average Rent Trends in 87123
Rent in 87123 varies by number of bedrooms and home type. Use these charts to quickly see how rent changes.
Average rent increased in Oct 2026 compared to the previous month. Rent previously peaked in Sep 2025.
| Month | Average rent |
|---|---|
| Nov 2025 | $1,600 |
| Dec 2025 | $1,400 |
| Jan 2026 | $1,600 |
| Feb 2026 | $1,630 |
| Mar 2026 | $1,700 |
| Apr 2026 | $1,495 |
| May 2026 | $1,200 |
| Jun 2026 | $1,200 |
| Jul 2026 | $1,338 |
| Aug 2026 | $1,200 |
| Sep 2026 | $1,300 |
| Oct 2026 | $1,657 |
Average Rent By Bedroom and Home Type
In October 2026, Apartments and Condos were the most affordable home type to rent compared with Houses and Townhomes.
| 1 bed | 2 beds | 3 beds | 4 beds | All | |
|---|---|---|---|---|---|
| All home types | $900 | $1,146 | $2,075 | $2,350 | $1,600 |
| Townhomes | — | $2,200 | $2,250 | — | $2,200 |
| Apartments and Condos | $795 | $975 | $1,422 | — | $975 |
| Houses | — | $2,095 | $2,156 | $2,350 | $2,195 |
Frequently Asked Questions about Rentals in 87123
- What is the average rent of an apartment in 87123?The average rent of an apartment in 87123 is $966 per month. This is about 50% lower than the national average.
- What are the cheapest months to find an apartment to rent in 87123?Last year, the cheapest month to find an apartment to rent was May 2025 when it was $1,197 per month.
- How many cheap apartments are available in 87123?There are 47 apartments to rent that are cheaper than the city’s average rent of $1,600.
- When is the average rent most expensive in 87123?In the last year, the average rent in 87123 was highest in Sep 2025 when it was $1,869 per month.
- How does the rent of a 1 bedroom apartment compare to a studio apartment in 87123?The average rent of a 1 bedroom apartment in 87123 is $900 per month. That is about $200 more than the cost of a studio apartment.
- What are some cities near 87123?Some nearby cities include: Carnuel, Cedar Crest, Tijeras, Albuquerque, Bosque Farms, Los Ranchos de Albuquerque. These cities may have more rental options to explore.
View this page in Spanish: Apartamentos baratos en renta en 87123 - 223 Rentas | Trulia