Buying a home is based on multiple things; The individual & how much money they have saved for a deposit, How much money they make, Etc. Most folks living in the Bay Area aren't sure if they should buy a home or rent. Well the question you've been asking has been answered with new data. The Price to Rent Ratio which is the difference of the cost of renting vs. owning a home. After analyzing the number it is better to rent than to own a home in the Bay Area. On average, rent in the Bay is about $3200, in comparison to owning a home principle and interest can be up to $6000-$7000 not including insurance and taxes. Although the prices to own a home are high, the homes here in the Bay Area hold great value so if or whenever you want to sell your home you can almost assure that you can take your profit and almost afford to live anywhere else you want in the country. Story down below.