Making do with a small apartment is something many people feel forced to consider when renting in a big city. Location is king but so is cash, so size gets to be compromised on very often. However, if you just don’t want to sacrifice size on the altar of an expensive location, things tend to get really frustrating. What a time to be alive, huh?
Last year we examined the price-to-space ratio in the 30 most populous cities in the US, and we discovered how much space you can rent in each for $1,500 per month. This time we thought we’d go a step further and show you what can you get for the same amount of money in the 30 most magnetic cities around the world.
But what makes these cities magnetic? The Mori Memorial Foundation’s Institute for Urban Strategies has your answer in their Global Power City Index research. Their summary ranks each city in terms of their attractiveness, based on six main criteria: economy, research & development, cultural interaction, livability, environment, and accessibility.
$1,500 per Month—from 277 Sq. Ft. In Manhattan, NY to 1,889 Sq. Ft. In Istanbul, TR
Starting from this list, with the help of our ever loyal market data friend, Yardi Matrix, we managed to calculate how much space will $1,500 rent you in each of these cities. The different sizes of the tiles below represent the actual proportions of how the value of your money changes across different real estate markets.
As you can see, $1,500 will rent you three times more space in Shanghai than in Los Angeles and twice as much in Frankfurt. The per-square-foot price is more than five times higher in San Francisco than in Berlin—basically, the German capital would offer you a five times larger living space than San Francisco, for the same amount of money.
It might be hard to picture this, so here’s something easier: the size of an apartment in Istanbul equals the size of seven hypothetical Manhattan apartments you’d rent for $1,500/month. This is how the 1-1 ratio goes:
Because the numbers involved are essential, we included a table stuffed with all the data used in the study. Depending on the measurement units you’re used to, you can check the price per square foot or per square meter in any of the 30 cities analyzed in this study. We’ve also included exactly how much space one can rent for $1,500 based on the average price per square foot (the same data we used in the infographic above), so feel free to sort the cities by the criteria which is of interest to you.