Plenty of rentals in CV. Both on Craigslist and on MLS. Check out http://www.carmelvalleyteam.com for cool, color-coded MLS rentals (but don’t forget Craigslist as well, as many are only found there).
A piece of advice: don’t rent a crappy place. Your best bet is to rent a nice house that was intended for sale but failed to sell. You know, the “never before rented” type. Also, asking prices are all over the map, so pay attention to that and don’t be afraid to negotiate. And check on your landlord to make sure that he/she isn’t likely to get foreclosed on.