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By the numbers: Owning vs. renting in the Bay Area

Renting versus buying — something a lot of Bay Area residents vacillate over.

There’s some major shifts in the market showing just how much more you’ll have to pay in order to own a home in the Bay Area.

Numbers from realtor.com show the median rent in the San Francisco metro area, which includes parts of the North Bay, is about $2,100 and the typical mortgage payment is about $5,900.

In the South Bay, the median rent is about $3,400 and the typical mortgage payment is $6,600.

NBC Bay Area’s Business and Tech Reporter Scott Budman has more in the video player above.

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