How low could it go? Its possible that it could get low enough for you to (theoretically) put 5% down, rent it out, and break even on the cash flow (including repairs, vacancy, taxes, advertising, etc). But no one knows if that will happen.
What you do know is that you have the opportunity to own for the same price as renting. If you like the house, you have a stable job, you won’t be struggling to make the payments, and plan to live there for many years (say, 10 or more), then I see very little risk in buying it. Personally, I would go for it.
