Our local library is starting up a tool lending section. They also have "fix it" days every few months run by volunteers where you can show up with something to fix and the volunteers will work with you to fix it.
It doesn't replace the need for me to own things I use all the time (mower, trimmer, drill, sander, circular saw) but it's perfect for once-in-a-while things like a power washer, a table saw, or an air compressor.