MIAMI.- “Location, location, location” is one of the most recurring quotes in the real estate industry. Its repetition seeks to emphasize the importance that the location of a property has on its price. Two identical properties, located in different environments, are valued differently.
It is precisely the thesis that reinforces a recent study carried out by Rent Cafe in the 50 most important cities in the US, including Miami. The analysis determined the differences between rental prices between different zip codes (zip code) within the same city.
Rent Cafe, unintentionally, on the one hand, revealed those invisible borders that exist between different neighborhoods and areas in a given metropolis. And, on the other hand, he pointed out where the opportunities to live in a more affordable way are found.
The research consisted of determining how many square feet of housing can be rented with a budget of $1,700 per month (the equivalent of the average rent nationwide) in the different zip codes of the country.
The study determined that in the zip code 33142, where Allapattah is located, with $1,700 it would be possible to rent a 1,066 square foot home as it is the cheapest area in the city of Miami, where according to the last census the average income of a family is $79,000 a year.
He zip code 33142 is located in the square formed east of Miami International Airport to 12th Avenue NW and from north to south between 62nd Street NW to 20th Street NW.
However, about six miles further south, in a zip code which Miami shares with the city of Coral Gables, the study locates the most expensive zip code in Miami. 33134 is located in the square from West Flagler Street south to SW 40th Street, and from SW 57th Avenue to SW 37th Avenue. In this area, $1,700 could only rent a 427-square-foot studio.
Nationally, the ten most expensive ZIP codes to rent are located in New York. According to the analysis, in the zip code 10013 located in Manhattan, with the average budget, it is only possible to rent a home of 211 square feet.
On the opposite side is the zip code 38109 in Memphis, Tennessee, where it is possible to rent a spacious 1,996-square-foot apartment for $1,700.
Rent Cafe It is a rental platform that operates nationwide where you can find homes for rent.
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