Carlyle lake is absolutely the way to go if you want to live off campus and stay very close by. You can still take the University Apartments shuttle to school, and the complex is pretty safe, not that expensive, and really nice for how much it costs. Dont look at highland lake, you're basically paying several hundred more dollars for a security gate in an almost zero crime neighborhood and a gym that carlyle residents can use anyways.
if you wanted to live a little further off campus, getting to emory in the morning from the highlands/ponce-ish/candler park areas is a pretty quick drive (did it for 18 months everyday). I lived in Inman Park right between Little 5 and Freedom Parkway just east of Ponce de Leon and absolutely LOVED that area. The rent wasnt bad, it only took me ~10 minutes to drive to work/school, the area was ultra laid back, there were so many quality bars and restaurants, and its one of Atlanta's few "walkable" neighborhoods. Word of warning, while its a fun place to live getting from buckhead to emory can be a nightmare at times, cause you'll have to pass by the cheshire/lavista crossing at some point (did it for 12 months).
avoid park at briarcliff like the plague. Its really cheap, but coming eastbound on briarcliff at 8 am in atlanta is the last road on earth you want to be driving on, and the complex tends to have some shady characters living in it.
I never lived in the new UA but I hear they're a nice deal too 🙂