#opportunity cost

The honest answer is 'it depends, and the break-even is longer than realtors admit.' Here's the actual comparison: the multi-year hold you need, the opportunity cost of a down payment, and the phantom costs that never show up in the payment.

Owning a home costs way more than the mortgage. Once you count maintenance, taxes, insurance, closing costs, and the opportunity cost of your down payment, renting stops looking like throwing money away. Here is the real math.