
It all depends, you can even get a RM300 house but you'll need to walk 30 minutes. If you find house nearer to MMU, then rental will be expensive and you have to find more tenants to lower down the individual rents.
Just for example:
My previous house = rm1200 per month, shared by 8 ppl in 4 rooms. Everyone pays around rm150. But you'll have to stick with some bastards if your housemates/roommates really sucks. Moreover you can imagine 8 ppl shared a 1MB line, 7 of them BT on for 24/7

My current house, rm500 per month. 3 rooms, 3 housemates. I got my own room! More convenient as sometimes my gf will come.

Quiet, peaceful... hehe.
I'll list down some locations:
1. Taman Bunga Raya - This taman is situated just behind of MMU. You can enter MMU from the side entrance near the tennis court. Price is on the high side for the row of houses facing MMU, but further away it will be cheaper.
Bad points: If you're Malay then no prob; else chinese gonna walk a distance to find food.
2. Taman Kerjasama - This taman located behind Petronas. This is where i stayed last time... the RM1200 per house one. It all depends on the distance from your house to MMU; further the cheaper. You can always walk to MMU corner or other nearby shops for your meals. Very convienient.
Bad points: hmm... students normally complain bout the safety, as burglary happens once a while.
3. Taman Bukit Melaka - The taman i'm currently staying. Location is just opposite of Taman Bunga Raya. Can say is the furthest taman from mmu gua... but rental is cheap and food is easily accessible.
Bad points: distance lo, what else?
4. Taman Dahlia - Located at the left side of MMU. Very far from restaurants but near to mmu lo.
Bad points: Trouble finding food. Robbery etc is quite a norm in this taman.
5. EP (Emerald Park) - Damn noisy, lousy internet connection. Only thing good is you can wake up on 9:55am and still early for your 10am class. Food ah... ok lo, EP's food cannot complain much.
6. UA (University Apartment) - Quite a distance from MMU. But well got swimming pool, got lift... malay food is easy to find, chinese food you have to walk a distance.
The rest... i'm not sure lo coz i don't walk here walk there

Hope that helps.