What Size Apartment Will $1,700 Buy?

Renters on a fixed budget face a crucial choice. Space/? Or location?

And in these days of remote or hybrid work, the choice is not just between one neighborhood or another. There’s another question: whether the desire to enjoy a lot more square feet for the dollar might even justify a move to a different city or state. In a new report, RentCafe examined the options for individuals with a monthly rent budget of $1,700 – the national average – by zip codes in the nation’s 50 largest cities. It found significant differences.

The person who prizes space above all else might consider a move to Memphis. Here, on that budget, an apartment in zip code 38103, Harbor Town, would be “tight” at 982 SF, while an apartment in zip code 38109, the McKeller neighborhood, would offer 1,996 SF – the most in the nation. Indeed, four zip codes in Memphis rank in the top 10 for space. Oklahoma City might be another candidate. Three zip codes in the city rank in the top 10, along with Tulsa. Zip codes 78211 in San Antonio and 64136 in Kansas City, MO round out the list.

At the other extreme, it’s no surprise that 9 of the 10 zip codes offering the least space for the money are in Manhattan, and the 10th is in Queens. In these areas, $1,700 will get you less than 234 SF and just 211 SF in zip code 10013 in the SoHo/Tribeca area. Apartments in zip code 10033, Washington Heights, are positively roomy at 566 SF – the most space in Manhattan at this price.

California offers slightly more generous options. San Francisco’s zip code 94132 is the city’s most spacious at 474 SF but expect 294 SF in zip code 94123 in the Marina District. In Los Angeles, offerings in this budget range from 704 SF in the Baldwin Hills/ Crenshaw 90008 zip code to 362 SF in Santa Monica’s 90405 code. Living space in San Diego ranges from 798 SF in 92105 (Oak Park) to 412 SF in 92014, North City. The city’s prime locations are in the west, with better deals in the east.

Individuals who want to feel less cramped might check out Philadelphia, where this budget will support more than 1,000 SF in six zip codes.

Renters in the Midwest might favor Kansas City, where space runs the gamut from 837 SF in the city’s popular 64106 zip code to 1,841 SF in the northeastern zip code 64136. In Chicago’s Englewood area, 1,376 SF can be found in zip code 60621, but 459 SF is more the norm in fashionable 60611.

Then there is the Mountain area. Phoenix’s downtown zip code 85004 offers the least space in the city at 658 SF, while another popular zip code, 85041 in Laveen, provides 1,090 SF. Denver offerings range from 934 SF in zip code 80224 to 587 SF in zip code 80211.