Over the past six months, rental prices for all bedroom types have continued to decline. The most significant decreases have been noted in larger two- and three-bedroom units. The recent stabilization in rental prices can be attributed to an increase in housing supply. According to the Apartment Association of New Mexico, several thousand new units are currently under construction. This influx of new apartments is expected to potentially lead to further decreases in rental prices in the near future. Currently, the median rent in Albuquerque is $1,105, which shows no change from the previous year and is 37% lower than the national average.

Rio Rancho

Rental prices in Rio Rancho have seen a slight decline over the past year, and this trend has continued for the past three months across all bedroom types. During the winter months, supply typically exceeds demand, prompting landlords to offer reduced rates to attract renters. Currently, the median rent in Rio Rancho is $1,625, which remains unchanged from the previous year and is 7% lower than the national average.

Apartment Options

Below are some recent listing examples.

Union 505 Apartments

• Studio/1 Bath
• 324 sq. ft.
• Rent: $841

River Walk at Puerta de Corrales

• 1bed/1bath
• Sq Ft: 550
• Rent: $1,174

Odyssey Apartments

• 2bed/2ba
• Sq Ft: 911
• Rent: $1,547

The Resort at Sandia Village

• 3bed/2bath
• Sq Ft: 1,160
• Rent: $1,845

(Data sourced from Apartments.com)

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