A lot of people live at Jayhawk Towers. Easy walk but kind of spendy. For the same price you can rent a nice house in northern Johnson County (Roeland Park, Prairie Village, etc.) and be 10 minutes away (but live in a nice neighborhood and have 4 times the space).
If you are wanting to buy, I'd suggest Johnson Co. if you can afford it. Great schools and you'll probably make money if you sell in 4 years. There are also some decent lower priced houses near the school but they're in Wyandotte Co. (worse school district; therefore limits your ability to resell).
One of my classmate's dad bought a big (decent) house right behind the school. He rented out 4 bedrooms to other med students and not only covered the mortgage but actually covered his other living expenses. When we graduated, he sold it for a small profit. Pretty smart.