Those are actual Zillow prices; that is the official market.
There is also a secret market in places that just have "For Rent" signs up, where people want someone to hole up in their In-Law Suite but don't have the ability or desire to use modern technology such as Craigslist. Once in a while, if one is not particularly laden with life, relationships, or possessions, one may get immensely lucky in that market.
On the other hand, having an unofficial sort of landlord is a huge risk, even if there is a lease signed. I wouldn't advise it for newbies, or anyone who can't get out of Dodge on a moment's notice.
From reading the internets, I believe that a lot of the youngsters in the city are getting bigger places and having 2-3 roommates. You do see offers out there for $600 for a 20-something professional to share with two other 20-something professionals. I imagine they all grew up watching sitcoms and just figured that is how it is done.
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