From Canuckistan To Portland (neighbourhoods, college, living)

[Moose Jockey USA]

Howdy! My wife and I are deliberating between Portland Oregon and New Haven Connecticut as a move for next year. My wifes from Vancouver Island Canada, and my family hail from Canada's east Coast. Every where we've gone, people have said that Portland is tops and a lot like Vancouver/Victoria/Whistler..or other west coast Canadian cities. My question is this:

How is the general cost of living and safety in Portland? While we're excited about many of the opportunities available there (College of Art and Craft there has an incredible international reputation) we're finding it difficult to find specific info about the individual communities and neighbourhoods that make up the city. Any recommendations on places to live that are laid back, semi artsy, but close to amenities? Not looking for the burbs, but somewhere on the public transit system, and a "community" if that makes any sense. We're heading out for a week in April to do some Recon, so any help would be greatly appreciated =)