Recent data indicates a notable increase in the median home price in the Bay Area compared to a year ago. The California Association of Realtors reports that the median home price in the Bay Area was nearing $1.4 million in March, reflecting a 15.5% increase from the previous year.

As home prices continue to climb, experts suggest that renting is becoming a more appealing option. Bankrate, a financial website, confirms that renting has become more affordable than buying in the 50 largest metro areas in the country.