Based on the following data, would you recommend buying or renting?

Annual rent $ 7,530
Annual mortgage payments $ 10,100 (9,650 is interest)
Insurance $ 160
Property taxes $ 1,840
Security deposit $ 725
Down payment/closing costs $ 4,800
Growth in equity $ 450
Insurance/maintenance $ 1,200
Estimated annual appreciation $ 1,850

Assume an after-tax savings interest rate of 5 percent and a tax rate of 26 percent. Assume this individual has other tax deductions that exceed the standard deduction amount.