That over $1700 price is a negative externality of home-as-investment culture and racist downzoning. There is no natural law that says the 2 bed/2 bath apartment has to be so expensive.

https://www.nytimes.com/2014/04/06/realestate/sure-build-it-...

https://www.nytimes.com/interactive/2016/05/19/upshot/forty-...

https://www.nytimes.com/2017/02/10/upshot/popping-the-housin...