Why is rent for private rooms in Bay Area so cheap at$500-750/mo?

[Tom Smith]

Why is rent for private rooms in Bay Area so cheap ($500-750/mo)?

I am looking through craigslist rooms & shares and many people are advertising private rooms for rent in Bay Area for $500-$700/mo. Why are the room rent prices so cheap? Are private room rental prices not as competitive due to high supply and lower demand?

I am looking at the Houston rental market too and the prices are basically the same for private room rentals $500-$700/mo.