Congratulations on your acceptance!!!! I'm a third year at Michigan State and have lived in a variety of places. I would not recommend Owen or University Apartments. Owen is billed as a graduate dorm but they do allow undergrads in there. I lived there second year to try to save money and hated it. My floor was very loud at all times of the day and night, which made studying and sleep difficult. You'll soon find out that quiet time for study and sleep is super important to vet students. 😀 I have not lived in University Apartments but I've heard that it is very similar to the undergraduate dorms.
I recommend living off campus if possible. I live about 10 minutes east of campus in Haslett in a quiet apartment complex. I've only had a few minor issues that have easily been resolved. There are many apartment complexes in the Haslett/Okemos/Lansing area that are within 15 minutes of campus and are quiet and affordable. If you do not have a car, bus service east of campus is reasonable from about 7a-6p during the week. After 6p, the bus only comes once an hour and does not run on Sundays. I don't know about service west of campus in the Lansing area.
You can ride your bike to campus from where I live - a lot of students do during the spring and fall. Winter biking can be challenging but several people do bike during the winter. If you have specific questions, feel free to PM me.