How does renting vs buying play out over time?

Net worth of a renter compared to an owner over the course of 30 years.

Based on a 30 year mortgage for the median house as at 30 June 2022 with a 5.5% interest rate and a 20% deposit and the geometric mean rent as at 1 July 2022. Assumes a 4% annual increase in rent.
Chart: Emma Vitz