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A lot of it will depend on which market you are looking at living in.Many of Boston's neighborhoods have been rising to an average ofover $1700 for an apartment, up 1.3%. This has been attributed to the fact that certain areas are showing <5% availability in rental properties, especially those that contain more than 40 units.This would lead me to believe that purchasing would be better for many people, depending on their financial abilities. When getting into purchasing, there are usually many more bills that you have to worry about. Many people that I have dealt with have forgotten the fact that if they will be buying a condo or townhouse, they will be paying those common fees that are associated with the up-keep of the property. Depending on the building and the location, these fees can easily add up to a large chunk of your monthly expenses, but you will be obtaining a great rate (with suitable credit) and you will be adding to your equity, both of which are very positive.
Between the rates at an all time low and the housing market aggressively priced it would see like an ideal tie to buy as opposed to renting. You have the mortgage interest deduction, tax deduction and appreciation which you will gain.
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For Sale: $25,000
For Sale: $1,400,000
For Sale: $569,000