Inner SE or anywhere that has a good transit access to downtown or the Tillikum bridge (which runs next to RLSB) would be good IMO. There are a couple of buses that serve the Hill, including the 8 which goes from NE Portland from downtown. The Tillukum bridge currently serves the streetcar, the orange line max (Milwaukie <-> Downtown), pedestrian and bike lines, as well as two (maybe 3 now?) bus lanes. The 9 runs along Powell Blvd in SE and the 17 runs along Holgate Blvd...both major streets in the city with frequent service.
I know grad students who live in Lair Hill, which is a little neighborhood right under the tram, accessible to the Southern portion of the S waterfront campus via a pedestrian bridge over the highway. I even lived there my first few years working, but I moved because it was getting ridiculously expensive and still felt somewhat isolated. It’s a really easy walk to downtown though.
I would never live up on the Hill if I could help it, but I enjoyed working there when I did.
Staff currently have a Lyft promotion (although they keep changing it to absurd hours like 9 pm to 5 am). Is that the case for students too?
Not a student obviously, but if anyone has any questions about what it’s like living in Portland (coming on 14 years...), I can try to help. My first few years was as a student in a somewhat isolated but beautiful part of the city. The city has become increasingly accessible with transit.
Additional caveat - I’ve enjoyed the city more as an adult out of school than when as an undergrad...for obvious reasons like a steady paycheck.