Sorry you're so confused - I hope to be in your shoes soon. Would LOVE to return to the 'Nasty.
Two years ago, I actually did live in Cincinnati, and there is PLENTY of affordable, interesting housing around the medskool. As a plus, it is by far the MOST affordable place I've ever lived, and you can get a really rad 1 bedroom for as little as $550 month! Adivce if you're looking for something near school (walking distance): Stay away from the Coreyville side and Clifton Heights area - sketchy, high crime, frat partiesh, etc.
A good idea for housing close to the university is the GasLight area of Clifton, awesome homes with guesthouses, apartment buildings, etc. If you're looking for a newly carpetted, neutral-walled, 1999-built structure, go to school somewhere else. All housing around UC is older, hardwood floors, no AC in many cases, etc. But like I said, the houses are interesting with tons of character.
IF you're looking for a quasi-trendy, professional 20-something crowd, try Hyde Park, Mount Lookout or Oakley - all are about 10 minutes by car, cool neighborhoods with little squares at their centers with bars, restaurants, etc. Stay away from Mount Adams, waaaaayyyy too overpriced, and so hilly so that you probably wouldn't get your car too far with ice on the roads come January. Mount Adams IS a great place to bar-hop, although.
Finally, there are many somewhat inexpensive ($650 1 bedroom loft) apartments in Downtown Cincinnati, on the river, etc. Downtown is gaining in popularity and there's an entire entertainment district at your doorstep with bars, restaurants, coffee shops (Main Street).
I know you're looking for guidance from the University - hope my $.02 helps. Maybe you should just call Clarice Fooks and tell her you're situation! If you want any more cultural info about UC, PM me. Good luck - hope to see you next year!