Whether that is true depends on what kind of place you want to buy and the amount of the loan. In Boston's north shore, the only available apartments are triple-deckers where you can hear your neighbors, for $2500/month, while houses are something like $800k; I consider renting to be a poor value here. In Cambridge, MA rent is higher, an average of $3500/month and you can choose between a commercial apartment and triple-deckers. An actual house is something like $2 million, although if you are okay buying an apartment or the top floors of a triple-decker, maybe you could get one for $1 million. I'm not interested in buying somewhere where I can hear my neighbors talking, so triple-deckers are out. Here rent is a little better deal (except that living in Cambridge is a bad deal). In the far Chicago suburbs (admittedly not "most metros"), on the other hand, rent for a decent apartment is close to the price of a monthly mortgage payment. And if you can pay most of the purchase price (or the price is cheaper), buying looks better, because you have less interest.