You're talking a $1700 budget for what I assume will be a 1-2 bedroom condo? Doable - but tough. That's really going to put you into the apartment style communities - which there are several in great locations. I recommend anything close to downtown Irvine, near either The Spectrum, Market Place, or The District. All great places with a vibrant demographic. As far as Newport goes, that'll be even tougher with your budget. I'd recommend considering Costa Mesa. There's great night life there, a younger demographic, and you're right in between Newport and Irvine - so you get the best of both worlds.
Let me know if I can help you with your property search. Take care.