I currently rent at Chateau Montreal which is on West 7th and Montreal Ave., near Highland Park (which is really nice). It borders on what I'd consider some questionable areas, if you go down West 7th as it turns into 5 and then 494, it turns into an area I wouldn't feel comfortable living in.
For a one bedroom with a great new kitchen and about 715 square feet, we got a deal for $665/month. The only real reason I'm moving is I'm buying a house. The management is decent. Or maybe I'm just not that picky?
If you do look into it, I'd say get an apartment on the top floor, the ceilings/floors are very creaky. Wide array of ages and ethnicities, some families with kids. It's not great, it's not bad, it's pretty average, but again, our kitchen was re-done and it's really nice, so try to see one with a new kitchen.
I don't know what you mean by "older" but there is a decent portion of the people in Chateau Montreal that seem to be in their 50's and up.