In the immediate area around Seattle University, off-campus housing is expensive regardless of what option you select. You’ll be lucky if you can get a studio for less than $700 these days. The prices do vary depending on where you live, from more well-to-do areas like Madison Park to the more working-class Central District, but they are not completely outrageous. The best bet is to actually look for a place with multiple bedrooms and get together with as many of your friends as possible so as to split the rent. Living on your own in a full apartment is a bit of a luxury in the area around SU, even with the economy in the state it’s in and the deals owners are now offering to draw people in.
A number of the places to rent from in the area around SU (especially on Capitol Hill itself) are surprisingly old, including a few that date back to the days of the Klondike Gold Rush, so make sure you do a full inspection before signing a lease. Newer buildings are still being built despite the recession, so it should not be impossible to find an offer of some sort, but be prepared to hunt. There is always the option of living further away from campus, from Rainier Valley to West Seattle or even across Lake Washington, though if you go that far out, you will have to deal with the commute and the pain that is Seattle traffic. Most people are willing to put up with that, though, and cannot wait to get off campus and experience the kind of control over your own life that living off-campus can bring.