As I said it actually costs less money to own where I live. With FHA loans very little capital is required up front. You just don't get to live within the city proper and instead have about a 15 - 20 minute commute. I've spoken to dozens of young professionals (most of whom make much more than I) about this, they'd like to own in center city but that isn't happening so they rent.

I'm a highschool dropout who has no familial support. If I can do it so can someone with a college degree and better access to opportunities as long as they are willing to make the same sacrifices.