Bay Area rent prices hitting highest point ever

July 19, 2012 3:04:25 AM PDT
So it may be time to stop renting. A new report from REALFACTS, a rental information service, shows that Bay Area rents are hitting their highest levels ever.

San Francisco apartment renters are now paying an average of $2,700 a month, up 13 percent from a year ago. Rents in Oakland and San Jose are running upwards of $1,800. And you can expect to pay more than $1,600 in Walnut Creek.

REALFACTS attributes the high rents to the fact that many people still can't get home loans, or aren't confident about their jobs and aren't willing to buy.