Analyzing 1,600 ZIP codes, RentCafe has found the sweet spots for space and location that the national average rent of $1,700 can get renters today.
On average, according to RentCafe, $1,700 equals approximately 944 square feet, but the number varies across regions.
ZIP codes in the South are giving renters the biggest bang for their bucks, with Memphis, Tennessee, and Oklahoma City leading the way for the most space for the $1,700 budget. Memphis’ 38109 ZIP code offers the most space than any other ZIP code analyzed for the budget—as much as 2,000 square feet.
Oklahoma City’s 73127 ZIP code comes in second, followed by San Antonio’s 78211 and Memphis’ 38116 at nearly 2,000 square feet. Rounding out the top 10 are 74116 in Tulsa, Oklahoma; 38127 and 38118 in Memphis; 73107 and 73129 in Oklahoma City; and 64136 in Kansas City, Missouri.
On the opposite end of the spectrum, New York City makes up the bottom 10 for the least amount of space for the budget, with Manhattan ZIP codes holding nine of the spots and Queens with the remaining one. Manhattan’s 10013 provides 10 times less space than those at the top—coming in at around 211 square feet for the $1,700 budget.
Here are some other key findings from RentCafe’s analysis:
- Renters can find over 1,000 square feet for $1,700 in six Philadelphia ZIP codes, with ZIP code 19135—the historic neighborhood of Tocany—providing the most space at 1,499 square feet;
- Los Angeles’ 90008 provides 704 square feet for the budget, while the city’s 94123 ZIP code will only get you 294 square feet;
- Renters can get the most apartment space in Phoenix’s 85041, coming in at 1,090 square feet; and
- In Chicago, ZIP code 60621 provides the most space at 1,376 square feet, while 60611 on the Near North Side offers just 459 square feet.
