How many apartments are available in 87123 on Rentable.co?

Rentable.co has 32 apartments available for rent in 87123.

What is the average rent for an apartment in 87123?

The average rent for an apartment in 87123 is around $880 per month.

What is the average rent for a two-bedroom apartment in 87123?

The average rent for a two-bedroom apartment in 87123 is around $850 per month.

What is the average rent for a one-bedroom apartment in 87123?

The average rent for a one-bedroom apartment in 87123 is around $737 per month.

What is the average rent for a studio apartment in 87123?

The average rent for a studio apartment in 87123 is around $675 per month.

Apartments in 87123

Albuquerque:
May Rent Report

Welcome to the May 2024 Albuquerque Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the May 2024 key findings and figures for the Albuquerque rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Albuquerque and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Albuquerque average rent prices in the chart below.

Monthly Rent Report

$1,350

$1,010

$680

$340

Jun. 2023

Jul. 2023

Aug. 2023

Sep. 2023

Oct. 2023

Nov. 2023

Dec. 2023

Jan. 2024

Feb. 2024

Mar. 2024

Apr. 2024

May. 2024

1 BR 2 BR

Albuquerque Rent Prices Decrease From April to May

Albuquerque rent prices decreased over the last month. From April to May, the city experienced a -1.13% decrease for the price of a one-bedroom apartment. The rent price for a Albuquerque one-bedroom apartments currently stands at $874.0.

When we take a look at the two-bedroom comparison from April to May, Albuquerque experienced a 0.27% increase for the price of a two-bedroom apartment. The rent price for a Albuquerque two-bedroom apartments currently stands at $1,125.0.

May Prices: Albuquerque vs. Surrounding Areas

Rio Rancho, NM

Albuquerque, NM

$1,656

$884

$550

$1,100

$1,650

$2,200

Median 1 BR Rent

Rent Prices in Albuquerque and Surrounding Areas

Rent prices have decreased in Albuquerque over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 0 of the Albuquerque suburbs increased last month. On the other hand, 1 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

Rents did not increase in any of the Albuquerque suburbs
Rent decreased in Rio Rancho, NM.
1 suburb is currently priced higher than the city of Albuquerque.

May 2024 Pricing Trends: Albuquerque vs. National Comparisons

New York, NY

San Francisco, CA

Washington, DC

Los Angeles, CA

Chicago, IL

Columbus, OH

Minneapolis, MN

Pittsburgh, PA

Albuquerque, NM

$4,056

$3,039

$2,377

$2,336

$1,913

$1,300

$1,283

$1,178

$884

$1,350

$2,700

$4,050

$5,400

Median Rent

Albuquerque Rent Prices More Affordable Than Major Cities

Rent growth in Albuquerque over the past year has been declining. When compared to major cities nearby, along with some of the most expensive cities in the country, Albuquerque average rent prices appear to be relatively affordable for local residents.

The price for a Albuquerque one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

For more information about Albuquerque and surrounding area rent prices, take a look at the complete data set below.

Data set for Albuquerque and suburbs

	1 BR May	1 BR M/M % Change	2 BR May	2 BR M/M % Change
Albuquerque, NM	$884.0	-2.32%	$1,122.0	-0.71%
Rio Rancho, NM	$1,656.0	-4.00%	$1,947.0	-1.47%

Methodology

Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.