Many factors enter into the decision to rent or buy a RI home including the anticipated rate of appreciation, anticipated rent increases, your tax bracket and how long you expect to stay. If you're wrestling with this common real estate decision, take a look at this Rent vs Buy calculator. It's one of the best ones out there because it rolls every possible permutation into a tidy little graph and a one sentence conclusion.
So plug in your numbers, and see what's best for you. If it turns out that buying is the way to go... well, you know where to find me!