I built a little model which analyzes renting vs. owning from different investment standpoint. All the variable from property taxes to inflation, utilities to discount rate, mortgage interest tax savings to possible depreciation, and everything inbetween are included. The results are very interesting. Even as a huge beleiver in home ownership, the results caught me by suprise. When it comes to the renting vs. home ownership debate, there is no question which one is better. Even with minor depreciation, a home owner is still going to come up with a positive npv in the long run.