Hi
For those looking for accommodation at or near to warwick university, may do well to look for help at warwick university 'Student welfare' itself. It is full of helpful unbiased staff who will do their best to point you in the right direction. They also have notice boards whereby accommodation availability has been posted.
Canley is a good option for living near to campus - however if you go too far down charter avenue, the area is not so safe.
Top end of Tile Hill, sometimes known as Canley/Tile Hill near A45 & Sainsbury's is very close and also on no.12 bus route. Mix of families and students alike and therefore quite popular as it 'feels' safe. If you keep to the area near to A45 (coventry road) that runs parallel with Canley, it is easily walkable, lots of shops and transport links and buses are quick, directly into campus.
Earlsdon is a bit further but is very student friendly and generally safe. There are whole houses and separate rooms alike. Close to the city centre side of Earlsdon is also quite popular as it has best of both worlds - close to city, loads of shops, good buses and trains, also close to village of Earlsdon, easy to get to Warwick Uni.
Leamington is also a good choice, especially if you are looking for nightlife. But, remember, catching the bus to uni is a pain and I've heard it can take over 1 hr to get there sometimes even 1.5hrs if weather bad and traffic at its peak. Might be worth living closer to uni and travelling to Leamington for night life if and when you fancy it?
Whatever your budget there is usually something for everyone, bearing in mind that you usually get what you pay for. And if this is going to be your home for nearly a year, then it is certainly a consideration.
Check out that the agency or student union or whoever you talk to about the landlords, ensure they have a good reputation, and that they will deal with any maintenance issues promptly should there be a problem. And also ensure that the property you look at is 5* accredited by coventry council as this will be a good indicator that the landlord conforms with legalities and that the property reaches a good standard.