Living within a close proximity to work has its advantages; no rush-hour traffic, lower commuting cost and proximity to downtown amenities. But according to a recent analysis of Zillow home value data and HERE Technologies commuting data, moving as little as 15 minutes away from the core of the city can be three times cheaper than staying downtown.

Downtown Boston has the most expensive living cost of all the cities analyzed. But it also has the most significant price drop once outside the metro area: Prices fall 303 percent per-square-foot within a 15 minute drive from downtown. The sharp fluctuation points to a growing preference for urban living as well as a disinterest in a suburban commute.

Typically, owning or renting a property becomes more expensive the closer the property is to a metro area. But there is a tipping point, and buyers can find significantly cheaper deals right outside of desired urban neighborhoods.

Due to commuting costs, vibrant cities see sharp value drops once outside of the metro. In Boston, once 15 minutes outside of the downtown core, the median home cost falls 13.4 percent, or by about $57,250. Similar cities like Washington, D.C. and Chicago see about a 9 percent loss in the urban periphery.

Although this is true for most large cities such as Boston, Washington D.C. and Seattle, some cities are experiencing the opposite. Depressed downtown markets can be found in Detroit, Baltimore, Kansas City and Cleveland. In these cities, downtown price per-square-foot can be half that of the surrounding affluent suburbs.

Many of these trends will stick around, so finding a niche neighborhood outside of a major city, or moving into the right downtown market, could mean cheaper prices and closer proximity to the features of urban living.