In my experience most graduate students prefer to live in a quiet neighborhoods, away from intense Collegetown life, but within short drive to the campus. It is also less expensive to either buy or rent slightly farther than just short walk to Cornell.
Eastwood Commons and Commonland Community are very popular neighborhoods among grad students. Both are well maintained and well managed, beautifully landscaped, have 1 - 3 bedroom units (one, or two-story), either garage or carport, and offer easy lifestyle for busy people. Both are on the bus line, within 5 - 7 min drive to the campus. Association fees (170 - 350/mo) take care of all outside maintenance (lawn care, snow removal, siding, water supply, and insurance).
They are also very, very quiet...
There are couple units for sale in each neighborhood right now, and rent is always a possibility.
I will be glad to give you more info if this sounds interesting.