For the rent calculation you need to subtract the standard deduction, $5,150 if you single or $10,300 if you married.
So the rental would be $24,000 + $10,600 – $5150 (or $10,300) = $29,450 or $24,300 if your married.
And, I think it would be tough to get a 6% interest rate anymore, especially with 0 down.
If you do have a significant down payment then you have to take into account the lost return on you down payment. You can easily get 5% in a short term CD right now, so if you put $100,000 down that’s $5,000/year (say $4,000 after taxes) your giving up too.
Of course the big unknown is what real estate values are going to do. If you’re renting a house and it’s going down in value by $25,000 a year….
