Newsflash: House worth a lot less than when we bought it. What should we do?

We bought our house in April 2022 in the Austin Texas area when interest rates were about 4..375%. We bought it at $759,000. There is a similar house on our street with basically the same square footage listed for $590,000. Our current balance on the house is $543,000. We live in a brand new housing track so all the houses are only 2 to 3 years old. We are going to have to move pretty soon for a job in a different city. Our current monthly payment is about $3,900. I checked rentals in the area and they seem to be going for about $3,000 to $3,300 for a house similar to ours. Basically I feel like I only have two choices; 1) Sell it and take a huge loss. 2) Rent it out at a loss and hope interest rates go down and the value goes back up a bit. Are there any other options you would recommend? Is there something I can do to give me a tax advantage?