I am a second year at MWU-cpg. Many of the younger crowd in my class live in the on-campus housing. It sounds like they have a good time over there. Many of the married and married with children students that rent live in several different apartment complexes across 59th ave to the west of campus. I have never been in them, but both appear to be nice complexes. I am betting many single students are in those complexes also since many seem to be crossing the streets when I am driving into school in the morning. Many of the rest of us are located all over the valley, with some driving from the far east valley which is quite a trek.
If you are going to buy a house and rent out a room, I would suggest getting more than 300 bucks a month. Houses are not too cheap here anymore, especially those in the close range to campus that renters would chose to live in. You are not going to touch anything worth a crap under 300 grand within the renters zone close to campus, which I am figuring is probably a 5 mile radius. If you can get homes for under that cost, they are going to be in old town glendale where you don't really want to live.
Good luck everyone, be ready to work hard. MWU-cpg is busy, but very doable if you stay on top of things.