The two don’t really compare at all. The one advantage of renting is being generally free of most maintenance responsibilities and long term commitments. But by renting, you lose the chance to build equity and protect yourself against rent increases. Also, you may not be free to decorate without permission and may be at the mercy of the landlord for housing.
Owning a home has many benefits. When you make a mortgage payment, you are building equity and that’s an investment in your future. Further, it provides you freedom, stability, and your family security, they are worth it.