Go wherever is cheaper.
I live in Savoy, and personally I love it. I don't live at The Village which is where a lot of vet students live, but I'm in a very nice, quiet apartment in a little neighborhood. It's small and mostly families and old people. There's a goodwill, Schnuck's, Walmart, Aldi (and others) very close by. It's only a 8-10 min commute to vet med, and I'm only 10 min south of Champaign. I don't mind driving to places downtown (although it would be nice to walk to places in town sometimes), and I think it's worth it to live somewhere calmer and quieter. I also feel like it's safer, but that's purely based off perception, not data (not including some parts of Chambana that are objectively less safe. It's sad). There's areas like this in Champaign and Urbana, too, you just have to look for it. Avoid the major landlords like Green Street and Smile Student Living- I toured a bunch of their places and they all suck and have a bad reputation. I'm with Royse and Brinkmeyer and I'm very satisfied with them. Also, utilities and taxes are cheaper in Savoy, so that's a nice bonus. It just depends on what you like. If you like the business and noise of living in town, then go for it. I lived in Chicago for long enough that I'm over it now lol. I also know people who commute from St. Joseph, Bloomington, and even Springfield and make it work, though I wouldn't recommend it.
Parking is... interesting. Parking in Chambana is generally annoying, but not any worse than other cities (I'm comparing to Chicago, for reference, so take with that what you will). I'm sure it's comparable to Bloomington based off my visit there. The lot for 1st and some 2nd years is a half-mile walk to the vet school, but only $140-ish for a parking pass. It's shared with undergrads and university employees but there's ample spots available. You can get on a waitlist for street parking and the Japan house lot, which is more expensive (not sure of price) and difficult to get on. I've been on the waitlist for both since May 2024 and am in the 160s lol, so I'll be walking for a while. The main lot outside BSB is for 3rd and 4th years and is a whopping $800. It sure is convenient, though. There's meters all over by vetmed, so if I'm only staying for a short time I park close. Parking is also only enforced 8-5pm on weekdays including meters, so after that and on weekends you can park where ever you want. It's not ideal, but it could definitely be worse. Plus I love the exercise from the walk.