There's a simple rule of thumb called the rule of 5%.  If the price of your house is less than the annual rent divided by 0.05, then you should buy.

example:

The rule of 5%

House Price: $650,000

Rent: $2,650

Annual rent: $2,650 * 12 = $31,800

Final: $31,800 / 0.05 = $636,000

$650,000 > $636,000

In this case the price of the house is higher than the calculation we got.  So you're better of renting.