Rent/buy is not a simple analysis, there is no one right answer. If you ever (for medium-large values of "ever") find yourself in a situation where there's one obvious right answer for all cases, you probably did something wrong.

Fortunately, at least for homes it's also a solved problem. Take your data to the below calculator, and get on with your life.

http://www.nytimes.com/interactive/2014/upshot/buy-rent-calc...