LeoGer-What is it that concerns you about the area? I'll echo what Obliquity said--if it's safety you're concerned about, don't be. Dig around a little bit and you'll find that the Bronx is not nearly as dangerous of a place as most people who live outside of NY think it is. Like every other borough in NYC, it has its not-so-great areas, but Morris Park isn't one of them. It's a pretty residential, quiet, middle-class neighborhood. It's one of the safest areas of the Bronx, and I walk around by myself at various times of the day and night and never feel unsafe. Some areas of Morris Park are actually pretty, with tree-lined streets, brownstones, etc.
If your concern is that the area is too quiet, I definitely wouldn't let that stop you. Nearly the entire medical school lives together, which basically means there are plenty of opportunities to hang out with friends or go out at all times. There are a few bars and a decent number of restaurants in the area, and so far I've found it really easy to get into Manhattan: 10-15 min walk to the 6 train, which runs the length of Manhattan and into Brooklyn, reasonably easy access to the 5, and the bxm10 stops right outside your door. It'll take you as far as midtown, and it's a short walk or subway ride if you want to go further downtown. I've gone into Manhattan every weekend so far, and it's only a ~20 minute bus ride to the upper east side (drops you off on Museum Mile by the Met, Guggenheim, etc.) and 30 minutes or so to midtown if you're going during off-hours (i.e., when traffic isn't bad). You also have things like Bronx Zoo/Botanical Gardens, Yankee Stadium, Orchard Beach, City Island, etc. a few miles away if that's your thing.
If you haven't already, I'd suggest you dig through last year's thread. I seem to remember quite a few posts (especially from zebalong) describing some of the great things about Einstein. If I wasn't studying for exams, I'd be happy to write about some of the things I like about it so far, but feel free to PM if you have specific questions.