Check out this cool buying vs. renting tool from the New York Times that gives you the ability to easily these two compare scenarios.

In the sample property that I scoped out (above) it made sense to buy a $150K townhouse (instead of renting it for $900/m) if you were going to be in the home for 3 or more years.
 
Click here to check it out, and let me know (scott@HarrisonburgHousingToday.com) if you would like to sit down to talk through these details together.