> Part of the problem is that the search page is dynamically generated; neighborhood-specific landing pages would help capture those more targeted queries. Yes

> Part of the problem is that the search page is dynamically generated; neighborhood-specific landing pages would help capture those more targeted queries. Yes, yes and yes. SEO matters for almost every site, but it is a really big deal for this kind of site. I tweaked the internal SEO of my site to highlight and description (One Bedroom Apartment in Newark, New Jersey) of the listing and it paid off for those "long tail" searches.