To watch the rental market, I look at Craigslist and MLS with a couple keywords, bedroom count and then parse the list for the 25th percentile. That eliminates the skew that is appearing because of the the wishing/desperation price rentals showing up.
What I’ve seen up in OC is prices trickling down and volume being consistent or slightly increasing. I see this because my volume count increases at the same point or reaches the same point at a lower figure.
Unfortunately, you’re about to experience the big negative of renting, an idiot landlord that wants to gouge and hence, you have to move.