I bought a house 19 years ago, 1993, for $60,000. My morgage payment was and still is $410.00 a month. Just before I bought the house I was renting a decent 3 bedroom 2 bath apartment for the same $410.00 month. Of course with the house I had to do upkeep and repair which was $0 for the first few years. It was a brand new house. I also had to pay taxes and insurance. Within 5 years it was cheaper to have the house then to rent.
In 11 more years, when I retire, I will have paid the house off and have $0 rent the rest of my life. Of course there is still the taxes, insurance of $1,200 a year plus the upkeep.
I think It's better to own, in the long run.
My mom has had her house paid of for 30 years now. Good thing, because she is in her 70's and only gets $600 month is social security. I don't think she could rent with that.