We rent a 4 bedroom, 2 bathroom 3 yr old townhouse for $380. It is actually a free standing house, but because it has 2 smaller villas behind us, and a small, grassed courtyard it is a townhouse.
It is a big home but the bedrooms are rather small for our family. We're looking to move in the coming months and will be paying around $450 a week for something we'd be more comfortable in.

Like Liz, I would have to go back to work in order for us to have a mortgage... so we're quite happy as renters for the time being (unless we win lotto of course!)