The Rental Calculator does you absolutely no good when moving into an apartment. If the average for that area is 100k but the owner wants 160k there is nothing you can do. The only people it protects are those already living in a unit. If you have a good price locked in the landlord can still kick you out by saying they want to move into the unit. Give you 1 year notice, then once you leave there is no way to make sure they were honest. They can just put it back on the rental market with a 100% price increase.
There is bound to be another crash. But it's difficult to predict when. Be careful if you're planning on purchasing.