I hear ya. I'm 26 and thought that trend was "out" now. I can't believe I feel old now.
The last time I went to Old Navy the majority (all that I saw) of the jeans were not ripped. That was probably close to a year ago though.
Have you tried other stores like JC Penney, or the like?
I couldn't see spending any more than $30 for a pair of jeans. I think the last 2 pair I bought were buy 1 get 1 50% off.