Setting is so important. In my novels (one is small-town Wyoming, the other a varied succession of Central America landscapes), the settings almost serve as extra characters. Though these are both settings I know well -- I didn't just decide, "How about Panajachel, Guatemala? sounds lovely!"
The best reason to write about places you know: When you know your setting, it steps out of the background and interacts with your characters in compelling ways. For instance, in my Central America backpacker book, dialogues are never two talking heads -- they take place on hammocks in rainforest hostels, or on windswept island beaches at night (etc. etc.). The unique settings help each scene seem cinematic.
I'm fortunate that Central America lends itself to some colorful backdrops -- which is why my book takes place there. But maybe you haven't traveled much, or don't know any locale too well outside your home city or town. And nothing seems more boring than writing about that. But really, it's not boring, because you know the details we don't. Think about it: a writer in Wyoming (Annie Proulx notwithstanding) might not believe their hometown is interesting enough to serve as the setting of a novel. But to most others, it is! Badlands and cowboys and smoky bars, oh my!
I grew up in a suburban So Cal beach town, a setting so familiar and mundane to me, I never even considered it for a setting until book 3. I plan on changing it just enough. In my other books, my most important Central America spots are real places thinly veiled. My small town in Wyoming is invented, though based on places my extended family lived. That's why fiction writing is so wonderful -- even if you're writing about your own town, you can pick out the best details, warp the others, and discard the rest. There's your setting!