I used to rent a one bedroom one bathroom apartment on the corner of Hamilton and Main St. It was beautiful, but small, and a little rough around the edges in the neighbourhood. The rent was $1,110/month with only hot water included. For a three bedroom/1 bath it would have been $1,500. Then I found a house on Innis Ave. with a basement, attic, backyard, three bedrooms, dining room, and 1.5 bath. It is exponentially more space and my monthly mortgage on it is LESS than what I was paying in rent. Sure I still pay utilities and the City of Poughkeepsie's nonsensical "sanitation" bill. But with all that included, it roughly comes out to the same. More space, same amount of money. And no landlord telling me I can't hang pictures or paint the wall. I'm much happier owning my home.
It is to the point everything goes up, but the pay is staying the same - Taxes only go up not down ! It is cheaper than owning these days, and letting the landlord worry about all the head aches of maintaining the major things :(