I'm an SNFO and I live with another SNFO and an SNA in a house off the back gate. It's a very nice place and it's really convenient for when you're mustering and whatnot and later for API classes. It's not very convenient to anything else though...except Wal Mart I guess. Another consideration is the closer you get to base the louder the noise of the airplanes dusting your rooftop on approaches to sherman field. Forget sleeping in, especially on tuesdays and wednesdays when the blue angels are flying.
The breakdown:
PROS- Relatively inexpensive nice houses available, lots of space in nice neighborhoods
CONS-30 minute drive to downtown and longerPcola Beach, window rattling jet noise. mowing lawn!