Should have clarified -- I'm an Albany native and 0L, starting at ALS this fall. So I don't have direct knowledge of what the school experience is like, just second-hand scuttlebutt.
Students do b!tch about the parking situation: apparently only 3Ls are allowed to park in the lot immediately adjoining the law building, everybody else has to park in a lot a few hundred feet away and spots are not guaranteed for everyone. I would guess there'd be sufficient on-street parking nearby, though. Albany is a pretty small town, and anybody used to fighting for a spot in NY/Boston/DC/SF will find parking here a breeze.
Apartment complexes: I have always been anti-complex because I don't feel they offer great value for the price. What do they have that private flats don't? Remember, you're only going to want to use that swimming pool 6 weeks out of the year here anyway
That said, there are some listed on the Renters' Guide that are in nice, safe neighborhoods and convenient to the law school. I can't vouch for the apartments themselves, never having known anyone who lived there, but Adams Park, New Scotland Gardens, Park Row, and Stonehenge Gardens might be worth looking into.
I would *not* recommend Central Towers, Pastures Village, Schuyler Apartments, or Tivoli Park because I consider those areas of Albany to be unsafe. The Hinckel Brewery apartments I recommend with reservations: they are gorgeously rehabbed apartments, and quite close to ALS, but the neighborhood is a little sketchy. Not to be sexist, but if I were a guy, especially a bigger guy, I'd feel fine living there. But as a woman, I'd hestitate.
Personally I think living in-town is the best bet. How else are you going to stumble home after a long night out at the Bar Review? But YMMV. North Greenbush is maybe a 15 minute drive, and you will need to own a car. Guilderland is about 30 minutes away, and again, you will need a car.
And yes, the neighborhood I described in my first post is quite safe, it's considered one of the best in the city (legal disclaimer: I can't guarantee your safety, just expressing my opinion/anecdotal experiences.)