If commute is not a huge issue, and price is, you don't want to throw all your money away on rent, you want to save some money.
THink New Jersey - New Jersey Transit has very good service, trains and busses into the city, and there are a bunch of private bus companies as well - that go into the Port Authority (41st and 8th - and easy walk to Grand Central)
You can get within 45 minutes to an hour of the city, and get a nice big place, with a reasonable rent. Some area's I'd consider the Brunswicks (North or East I think -- lots of golf courses in the area - property values are not out of sight yet, so the demographic in that area is mid 20s - and not all families. Princeton is a bit further out, but still commutable to the city though the downside is -- you 'd really need to keep your car and car insurance in NJ is not exactly reasonable.
CHeck out
www.rentnet.com to see what's available.