Suppose I have the following data, which corresponds to the median rental price of distinct areas:
Area | Median Rental Price | Nr Houses
Soho | $2,500 | 15
Harlem | $2,400 | 250
Chelsea | $3,500 | 2
East Village | $1,500 | 10
Basically, this means that for Soho I used 15 houses to calculate the median rental price. I have the individual data for each house in the set, namely the respective rental price.
If I want to compare the distinct areas to see which ones are most expensive/cheap to live is there a formula I can use to ignore an area due to having a smaller population in the data set?