Hi Star Babe,
While I dont go to USC, I am familiar with the surrounding area and I know a few folks that are currently at USC, so I thought I would suggest a few things regarding living arrangements.
Where do you currently live? Are you going to have a car while at USC? Los Angeles is very spread out, and public buses are not that great like other big cities like New York or Boston, so virtually all students living off campus have to have cars to get to school and to get around LA.
The 1 block of apartments right next to USC is in decent shape and safety is okay, since USC makes a very big effort to keep this area safe. This one block is within walking distance, and many undergrads live here. I dont know of any grad students personally that live within this 1 block.
Walk away from USC for more than two blocks and the area seems a bit run down, more dirty, and I have been told can be quite unsafe at night.
Rent within the 1 block is high for the area, since there is the demand of those undergrads.
Most grad and dental students I know, virtually all of them live off campus, and drive to school.
Within 5 to 7 miles of USC is central los angeles, some folks consider this unsafe, and go further West to the Mid-Wilshire area and consider Mid-Wilshire area and beyond toward the west side is safe.
I also know of dental students who live in Korea Town, which is near Mid Wilshire, and the rent is cheap, but my friends' cars have been broken into, and his apt has been broken into also.
Other USC students live in Palms, which is about 10-15 miles west of la, this area is safer and cheap, other rich kids of course live in Beverly Hills or Brentwood, about 15-20 miles west of USC, or other areas of WLA, which are nice, safe, but expensive, and the drive to USC each morning sucks major dirty monkey ass...
So final suggestion?
if you have friends/family/relatives in LA, fly out and drive around and look around for a neighborhood you would be comfortable in.
A friend of mine lives in Korea Town, can drive to usc in about 15-20 min by street and is happy, another friend lives in Venice, another lives in WLA, which takes them 30 and sometimes 40 min to get to school but they are ok bc they are snobs and they like and can afford to live near the beach..
if you have any other questions, feel free to PM me,