I have a family member who has stretched out the amortization on their condo, so their  mortgage, in combination with strata and property taxes, is less than the market rent for a two bedroom here in metro Vancouver. (And the vacancy rate in their area is well under one percent).

Of course should there be any large repair assessment, then that will throw the whole rent vs own equation out of whack.

They would much rather have a house, or even a townhouse,  but the affordability ship has sailed here.

Sometimes there is no choice between rent and own, if rentals are scarce and rents are high.