I honestly don't know what the new housing looks like inside so I really can't say how it would compare to living in SH. The thing about SH that is nice is that i KNOW i dont need to worry about too many people being loud considering it's a townhome (though some models have a condo stacked on them - One condo taking up 2 bottom floors while another is stacked on taking floors 3 and 4). The model I am currently in has a garage spot and a driveway spot so that adds to the convenience. Also, it's more of a home like feal and doesn't feel like you're in a dorm (and thus back in undergrad). Some people don't mind the dorm like feal and some would rather stick to it so it really depends on your preference.
As for the two locations, you are correct that they are relatively in the same location. The SH area surrounding the school has security driving around all the time and many times even when I park my car in front of the house but not parked, they sometimes sit to see what is going on before driving away.
Regarding the SH areas, the apartments are pretty nice AND cheaper compared to the dorms. Prices range anywhere from 550 to a smaller BR where you share a bathroom with one other person to about 750ish with a large BR and your own full bath. I've personally kept a tabulation of how much I have spent on utilities, rent, cable, internet, phone for the past year and it comes out to be about 8500/year. Comparing that to living in one of those 3 BR apartments at 830/month and 200 for the year for electricity comes out to be about 10,100/year but this place includes having laundry on the premises so no having to worry running around finding quarters or wondering why your clothes aren't in the dryer when you left them there (and all the other problems with laundromat type systems). The place has 3BR and 2.5baths so bathrooms aren't an issue either. The ONLY problem you could say would be the 4minute door to door walk to the school. Of course if you live in a 2BR or 1BR, the cost of living may increase another 4-5000/year. It all depends on how much you are willing to dish out.
IF money is no problem and a person doesn't mind the commute, hoboken and newport area of JC is great to live in (however if you want newport, you need to get an application in now because there is a HUGEEE wait list and when you see the apartment and location, you will know why). The areas are prime for having fun after an exam and a hop skip away from NYC. The only time traffic becomes a problem is going INTO hoboken around 5pm. Newport apartments cost about 1600 for 1BR but you honestly are paying for what you are getting (view of NYC, apartment NEXT to the waterfront, a ferry that will take you into NYC, etc). Hoboken apartments may be around 1100-1600 (i really can't recall pricing in that area)
Parking shouldn't be a problem if you come in before 10am but by then the new parking deck underneath the dorms will be complete so it will alleviate the parking problem further. Add to that the fact that a new 8 or 9 story parking deck also opened up a month or so ago and parking is even less of a problem. Of course this is just speculation but it shouldn't be a problem if you go to class.
Also, Armydoc is right on all points and i agree with him wholely. Definitely go to the housing day if you can to find someone to room with and to find a place in the area. If all else fails, you can go into the dorms. Also he is right that for 800/month you can find a huge apartment in newark. So just things to consider. I would determine whether you want to commute or not worry about a commute in order to decide where to live.
A car is definitely recommended because there is no guarantee your preceptorship will be in newark (and even then, it may be a drive to get there). So keep that in mind when deciding on apartments also in case you haven't (i know of some people that didn't think of getting a car during their first year and even somehow managed the 2nd year but 95% of people need cars)
