Still based on cost. The housing itself costs more in the Bay area. Rentals/housing in the Bay area (or other desirable locales) are supply constrained. The

Still based on cost. The housing itself costs more in the Bay area. Rentals/housing in the Bay area (or other desirable locales) are supply constrained. The only class of goods I can think of that are not based on underlying costs are monopolies. And yes - it's unlikely that low income rentals will suddenly become supply constrained after UBI.