Ideally I would say uptown but I do not know if you will find in that location your price range.
I agree you would need to secure employment to decide on location of where you live.
Check to make sure a bus go nears where you will be working.
On the application it will ask do you have reliable transportation and you should check yes; the buses are very reliable.
Check into Plaza Midwood, Dilworth, and down the South Boulevard corridor. The closer to uptown the better in case you will have to transfer to another bus or train.
For instance I lived off Sharon Road west and it would take me two hours to get to Billy Graham Pkwy due to all the stop and go of the bus, and layovers between two buses.
The buses generally run every 30 minutes during the day and hourly on weekends but some routes run more frequent.
Check out C.A.T.S map to get a lay of the area it even has a trip planner.
C.A.T.S.