House Price to Rent Variations

[Michael Vittorio]

Question here: Is it typical to find variation within a city where the Rental Income to House Price ratio differs significantly? For instance say there are two houses on opposite ends of a city that are both $250k. One area's average rent is $1000 and the other's is $1300 for comparable houses. Let's further say that both houses are right at about the quality you would expect for the area and are livable. Is this ever seen? Would there be a reason that rent is higher in proportion to the sale price? 

One of my thoughts would be that it is an area where there is a high likelihood of a renter's employment changing locations (i.e military) so maybe a premium can be put on rent since someone only in the area for 9 months would not want to buy. 

I am not saying I have seen this personally, just wondering if this occurs.