Renters.... SO MUCH Cheaper that owning a house in our immediate neighborhood. Literally the house next door is extactly the same, and I know their mortage is 2.5x's what we pay in rent.
Being renters, we have the ability to save more than 65% of our take home, don't have to worry about upkeep (landlord painted house, replaced furnace and replaced stove in last 9 months).
What I dislike about being a renter is that I always have the fear that rent will be raised, but unless it doubles we still come out way ahead.
That being said, we are saving money for downpayment/ outright purchase, but will only do so when we can get out of the city and onto a nice patch of land.