Fact: It is the only city in Britain where the rain falls horizontally.

It is not a cheap city. I would think you'd be looking at £500 to rent a flat. Here is a link to the Aberdeen Property Centre.
http://www.aspc.co.uk/ASPC/ What uni are you looking at? RGU or U of A?
Personally, I don't feel there are any areas to avoid but others may disagree. Northfield and Seaton are two places that maybe fall into the stay away category, only because of people I work with have spoke bad about these places.
It's a nice overgrown town (230,000?, 3rd largest city in Scotland) that sits between two rivers - the Don and the Dee (the Dee is part of Royal Deeside - very pretty) It is fairly clean, lots of shops and restaraunts. Union Street is the main street with several shopping precincts off it. Several retail parks. A few good parks (Hazelhead and Duthie Park and numerous smaller parks). A good beach front with cinemas, restaraunts, pool, bowling alley and amusement park. It has a very good theatre - His Majesties. It has an extremely vibrant nightlife with far too many nightclubs and bars (supposedly more per head than any other UK city). The architecture is something else. The city is known as the Granite city for reason which will become obvious as soon as you arrive. On a sunny day, one could think it is the sparkliest city in the UK.
It has a relatively good airport and one of the busiest heliports in the world. Bus service is on par with any other city. A car would be useful for getting around outside the city.
It has its share of junkies and lager louts but overall the people are friendly. It has a lot of foreigners, some due to being the oil capital of Europe but also with an influx of Asian and Polish peoples.
There are a lot of places to explore in this neck of the woods. Very pretty countryside.
They can spik a bit funnier than Edinburgh but it is a very cosmopolitan place.
If someone asks you
foos yer doos? Just answer '
aye peckin' That's Hi, How are you. Fine
It is actually How are your doves (pigeons). All eating. They speak Doric but there are really 3 different tongues that can be heard, the 'normal' Aberdonian spik, the farmer's Doric and then the fishing type and each is very distinct. I don't know a lot because I am more familiar with the softer accents further down the coast (well 1 hour drive).
I would probably live closer to Aberdeen if it weren't for connections down the road. I think you will like it. Feel free to ask if there is anything else that comes to mind.