Where exactly do you live?
'Abiti' = A-bi-ti. 'Preciso' = pre-CI-so, stress on second syllable.
Ask this once you have established that someone lives in the same city. 'Di preciso' (exactly) moves from general to specific. In Italian cities, neighbourhood ('quartiere') is a key part of identity and will reveal a lot about someone's lifestyle.
'Abitare' (to live) is the standard verb for place of residence. 'Di preciso' is an adverbial phrase meaning 'precisely/exactly'. It is commonly used in Italian to ask for more specific information than you have.
In che quartiere stai?
What neighbourhood do you live in?
'Stare' is used colloquially for 'to be/live' especially in southern Italy
Sei vicino al centro?
Are you near the centre?
Quick geographic orientation question
Siamo vicini di casa!
We are neighbours!
Excited discovery of residential proximity
Rome's Trastevere and Prati are iconic neighbourhoods with very distinct characters. Trastevere is bohemian and vibrant with nightlife; Prati is more bourgeois and elegant, near the Vatican. Italians have strong neighbourhood identities — 'sono di Trastevere' carries cultural meaning beyond just an address.