There really is none, but here’s an interesting thought you can add to your financial strategy:
Divide the subdivision/area annual rent by the home’s price and if the result (i.e., yield) is >8%, it favors buying…from 5-8% it favors longer term hold and <5%, it favors renting. But don't hold me to that ratio - it just sounds like an interesting rule of thumb. Source: WSJ, 2-22/23-2014, B9.