I agree with what has been said below. As a real estate broker and property manager based in Oceanside, I can say that rents are most definitely going up. 92054 is a large area, so it is hard to say exactly what market rent is for your home, but chances are $1650 is a good deal. The fact that your landlord was paying water/sewer/trash was also a bonus. I think your options are as follows:
1) Move to another rental- Probably just as expensive, probably more
2) Stay in your Current Rental- although I would try negotiating with the property management company to make you signing the lease contingent upon them making the repairs you want. It's going to cost them money to get a new tenant and they are probably going to need to make those repairs to make it nice enough to rent, so chances are, they will be willing to do the repairs to keep a happy, steady tenant.
3) Buy- prices are low, rates are low and VA does have some amazing 0% down programs.
Feel free to contact me directly. I am always available to help.
McAllister Homes Real Estate and Property Management
Also, I am not a big fan of Zillow estimates for property values, but I have found it handy for rental rates since we can't get much from our MLS. So go to http://www.zillow.com and put in your property address to get a ballpark of today's rental rate. You can also see a graph showing how rates have gone up for the past two years(since they started keeping track of rentals).
I did a quick search of the MLS in your area and I found there are 10 homes listed. The lowest priced home was $250,000 and the highest price was almost 4 million. If you would like to send me an email I would be more then happy to answer any questions you may have.
CA DRE LIC# 01756579