In most cases, rent and the cost of owning is related, meaning that if you're 30% under water, the rent will likely only cover 60~80% of your monthly expenses.

In most cases, rent and the cost of owning is related, meaning that if you're 30% under water, the rent will likely only cover 60~80% of your monthly expenses. On top of that, if you had to move away for another job, there are additional expenses around managing rental property remotely.