Buying does not beat renting on the day you get the keys. It beats it on the day your equity and appreciation have finally out-earned the round trip you paid to get in and back out.
Take a $400,000 house with 20% down. The $320,000 mortgage at 6.5% costs about $2,023 a month in principal and interest. Property tax near 1.1%, insurance, and maintenance at roughly 1% of value add about $850 a month. Call it $2,873 to own, against $2,400 to rent the same place.
— Educational, not financial advice.