As said, there are a ton of off campus apartments around the University, off Hwy 29(N Tryon), Hwy 49 (University City Blvd), Mallard Creek Ch Rd, and John Kirk Rd... price all depends if you want to live by yourself, or upto 3 others... I lived at UT North and Colville while I was there... both are older complexes, and there are nicer ones avail now...
Some other close ones to look at are Campus Edge, Campus Walk, University Walk... and then there are some off Hwy 29 that could be within walking distance to Duke Hall... and there are some that park at the Food Lion across the street, and walk over to Duke...
You can find some that are within walking distance to campus, but from most you will still have a trek ahead of you... Having graduated with a BSME, I can tell you that you will spend a good amount of time at Duke Hall (which is located away from the rest of campus)... there are shuttles that go around campus if you want to take them... There is parking right in front of Duke as well... If you decide to drive, there is alot of parking avail on campus, but the earlier you get there, the better spot youll have...
Most of campus only has classes 4 days a week, but in MEGR you will probly have Fridays as well... Most classes are 75min, twice a week, IIRC...
IIRC, when I graduated in 2007 a year long commuter pass was ~$250/yr... but Ive slept since then, so that may not be 100% accurate...