Right next to the University there are two main areas, known as West of Campus and East of Campus. Both provide walking access to campus and the cost of rent fluctuates around similar rates. You can expect to pay from $300 to $500 depending on the size of the room. West of campus is known for being a more quiet and student friendly neighborhood. You have to consider that the proximity to campus has some trade offs, campus is located very close to downtown, which not only offers unlimited possibilities for nightlife, but also, like any other big city, some vagrants roaming around the area.
Some important features to keep in mind when looking for a room are the heating and air conditioner systems. The temperature fluctuates in Reno from 110F degrees over the Summer down to 10F over the Winter.
In order to keep students safe, the University of Nevada, Reno offers free rides after 7:00pm, the service is called Campus Escorts and you can make reservations from the website or your phone. It is basically a free Taxi, very handy after studying at the library on those cold winter nights.
If you have a car, or you are planning to get one, Reno commutes are very easy. The average commute from either the Northern or Southern part of the city takes no longer than 15 minutes.
South Reno offers nice, clean, and quiet suburban neighborhoods where you can definitely get more space for the same money. South Reno is very close to Mountain Rose (25 minutes driving) which is a great escape for people that love the outdoors.
North Reno is in the opposite end of town and also provides beautiful landscapes. Though less developed than South Reno, there is more room and places to go hiking along the beautiful Truckee river, in addition to being quiet, nice, and clean. Through I-80 you can get to North Lake Tahoe in 35 minutes and to North-star in 40 minutes.
As many people know, you can always use Craigslist Reno for your search, but also there is some local real-state companies that can be helpful.
Also, you can always check the Police Crime Report to find the safest neighborhoods. For example, you can type University of Nevada, Reno on the search bar to check the safeness of the surrounding places and get a better idea of where to live.