I just finished apartment hunting today. Search 436 (Semoron) just northeast of campus within a 15-20 minute radius.
http://maps.google.com/maps?f=l&hl=...91,-81.483021&spn=0.086014,0.185566&z=13&om=1
Pay attention to the star ratings and number of ratings. Before you start though, I would suggest visiting Barrington at Mirror Lake. It's most certainly the cheapest place when it comes to studios. And I know a few of my classmates live there. The place is gorgeous and very well kept.
http://maps.google.com/maps?f=l&hl=...83021&spn=0.085996,0.185566&z=13&iwloc=B&om=1
Studios(520sq ft) are ~$590-620.
Larger 1 bedroom/1bath (630-815sq ft) range from $680-815.
Two Bedrooms/One bath (1005 sq ft) are about $850-900
Two bed/two bath (1050 sq ft) = $1050
3 beds/2 bath (1360 sq ft) = $1175
I just got a studio for $589 a month.
Message me if you do go to Barrington so you can refer me.
/shameless plug
Another place I found was Park at Vineridge (520 Terraceview Cove Altamonte Springs 32714) with 1 bedrooms @ $699. The lady there said a few other pharmacy students already live there. It's more expensive though.