I say 1% as hyperbole as while I can’t say what portion it is, it’s small and shouldn’t be a show stopper.
Other than in very rare circumstances, unless the govt. or your employer is paying your rent, buying should NEVER be worse than renting. The fact that more and more people don’t even have the option, even when a mortgage would actually work out way cheaper than rent, is insane. I don’t know the US market, but where I live a mortgage is cheaper or about the same as paying rent, after insurance & maintenance, basically everywhere.
Taxes on the purchase are a 1-off cost that might add up to a few month’s rent, it stings but it doesn’t change the math. Sure you have to pay interest, but at least a portion of your repayments is going permanently towards your financial future. Paying rent you may as well be handing that money your landlord and watching them burn it for all the return you would ever see from it. There’s no scenario where paying rent very long term should be better for anyone.