The problem is for people with cats.Regents allows cats, but they have to be declawed (which is inhumane).Does new grad allow cats? i doubt if but I haven't looked into it.
I think grad housing is way less of a hassle than some random place you'd get off craigslist--you can pay rent online, utilities are included, card laundry, etc. I even have a gas range and a lovely view. You can have pets in my building (look for the claw symbol after the address: http://reo.uchicago.edu/gradhousing-list.shtml) and it's about a fifteen minute walk ride to Ratner.
Just some info:I live in University housing and I really like it. If you want to be surrounded by all of your classmates its probably not the way to go - most of my neighbors are divinity students - but we have a really nice apartment (much nicer/larger than Regents) and pay like half the price (795/mo). That said, if you don't have any pets you should request a building on the more northern side of HP. You can't walk to the school like I can, but you'll be closer to the gym, the restaurants/bars, and to all your fellow students when you do want some company.Just my two cents.