Brian,
I live and work in one of the nicest parts of Carlsbad. It is wonderful here. Prices should be much more palatible in a year or two. There are lots of single family homes that are rented around here in all neighborhoods (good and bad). You might be surprised to find such nice homes for rent in great neighborhoods but lots of people have moved away and kept their homes. Sure there are recent speculators but there is a nice inventory of long time rental properties. Its a phenomena that I never saw anywhere lese I lived in the country.
Rents for a nice 2,000 sq ft house probably run around 2300 to 2500. There are some for more and some for less. The problem isnt necessarily rental rates its more about finding one that you like. The good ones go quick and the vacancies seems to be getting slimmer every day.