"A two-bedroom-plus-den, two-bathroom, 1,500-square-foot townhouse in North Vancouver was recently listed for rent at $2,200 a month. Another townhouse of similar size in the same complex was offered for sale at $649,900. The price to rent ratio of 24.6 suggests that either the property is overvalued or the rent is too low. Trulia.com, a U.S. real estate website, says a ratio of 21 or more means it’s better to rent than to buy."

good analysis of how to compare the cost of renting vs buying, incl the various expenses associated with home ownership