that's up about 13% over the last year, arlen romero's explains how the sky high prices are impacting bay area families. still ahead is renting. a place to live. a better option. we talked to an expert rent? prices down in 1 major bay area city stay with us. this afternoon. we're taking a deep dive. into the bay area. house. market. allen challenges people are facing. just trying to find a place to that they can afford to live right and for a lot of people, it comes down to 1 question is it better to buy or to rent? last month bank rate looked at 50 metro areas and found that the bay area had the biggest gaps between renting and buying in the areas of san francisco, oakland and berkeley. renters pay about $3500, a month compare that to an average mortgage payment of more than 8500. and a similar situation in the south bay. we're rent is around $3200. but a mortgage. that's around 8500. so we asked cbs news business analyst jill schlesinger for her taking all this. well in oakland, rent is actually get cheaper accord. to the web. of list. the average rent is just below $2000. a month.