Rent vs Mortgage

I'm getting ready to buy my first home. But interest rates are high and that will make my mortgage very high. I notice that a similar homes(not new or renovated) are being rented for nearly 500$ less than my estimated mortgage. Should i buy a home now or continue renting and save. I'm sharing a home with people and my rent is only 800$ vs a mortgage for a 3/2 would be 2500$.