Fairfax is a really nice place to stay! After staying there for one year, I would choose to continue my lease if it wasn't so expensive.
It's pretty near to school (about 7 minutes to the entrance, maybe 15 minutes to reach the inner buildings), and the facilities are good! Basically, by paying a little (lot?) more each month, you get a whole apartment! The 1-bedroom apartment has a hall, bedroom, toilet and kitchen! You'll have to share the bedroom with someone though, but the house is so big some people split it so that each person gets his private space.
The internet connection at Fairfax is Comcast, which obviously isn't as good as the campus network speed/stability, but that also means that people living in Fairfax aren't subject to the bandwidth limits! So you can download stuff all you like (as long as it's legal-ish)
During winter, you'll have to walk through more snow to get home, but I didn't find it too much trouble.. It's not really that much further than say from Wean to Hammerschlag.
One good thing about staying off campus is that you're near to Oakland, and can get on the commuter's meal plan. This means that you'll most likely pull friends out to eat elsewhere for dinner from time to time! It's good to have a change in food =)
All in all, Fairfax is a great place to live! Warm (in winter), cool (in summer cos of air con), cosy, and generally shiok!
Som