In my area it means you can rent something out thats had nothing but the bare minimums of renovations for the past 40-60 years and still get a decent market price for the unit. The stuff that is farther out is newer, more spacious, and often considered in a safer area, so they can ask for more. You are getting a better unit farther out but you gotta pay for it vs living in something run down but saving on rent and transportation.

There exceptions of course, it really depends on the age and desirability of the neighborhood