Hold value of select box in form

 function createOptionFromArray($myArray,$selected) {

        if(!is_array($myArray)) {

            return false;

        }

        $returned = $select = '';

        foreach($myArray as $key => $value) {

            if($selected == $key) {

                $select = ' selected';

            }

            $returned .= "<option value=\"$key\"$select>$value</option>";

            $select = '';

        }

        return $returned;

    }  
$option = array(0 => 'Rent', 1 => 'Own');

$selected = (isset($_POST['rent_own']) && intval($_POST['rent_own']) < 2) ? $_POST['rent_own'] : '';

print "<select name=\"rent_own\">\n";

print createOptionFromArray($option,$selected);

print "</select>\n"; 

I am trying to get my form to hold the value of the selext box which it does. But the value I get back is "1" or "0".

I need to have the value be "Rent" or "Own". How can I do this?

$rent_own = $_POST['rent_own']