Hellobee Boards

One of my absolute, hands down, most favorite apartments ever that we lived in was right next to a homeless shelter. If it had been a) big enough and b) affordable, I would have absolutely, totally bought there. Sometimes, it doesn't matter what is next to you when you move in, the sh*t can always hit the fan afterwards. One of the worst places that my husband lived was in a very fancy area of Seattle- it just so happened that he had crazy, crazy neighbors. I would do as PP suggested- check it out at all hours of the day- early morning, dinner time, 10pm, etc. That will give you a better feel for what it is like. Low income housing does not necessarily equal bad neighbors, just as a fancy neighborhood does not always equal awesome neighbors. As for the resale value, you're thinking of buying it now, correct? So it can't be that bad.

@NovBaby1112: I say go for it. And if things in the neighborhood start to deteriorate (unlikely, but...), be part of the solution!
You can make it the *perfect* neighborhood for you and your family by being active community members.

full disclosure- I live in a not great part of town with people living on a low income/ welfare and for the most part, I LOVE my neighborhood/ street. We have block parties and garage sales and know each other better than many people in the suburbs.