Thank you everyone who responded with advice to my query! I suppose I should have been more specific as "inexpensive and safe" is somewhat vague. Here's the deal...
My fiance and I have been planning all year to move to London this fall/winter. We graduated college in summer of '08 and we'll have about $10,000-$15,000 saved by the time we want to leave.
What we are doing is a HUGE risk because neither of us have jobs in place. We decided to make the move because the US is completely barren of any jobs at the moment (he has a masters degree from one of the most prestigious universities in the country and he cannot find a job - he also has numerous friends with masters, doctorates and law degrees that are out of work). I understand Europe is just as effected by the economic crisis as America but I think even in the US the unemployment rate is vastly underrated. The numbers are far higher than they are willing to report. Plus, it's always been our dream to live there (he is British by the way).
Anyways, our hope is to find at least SOMETHING in London even if it is waiting tables until we find proper steady jobs. We do not need to live in the wealthiest area but surely there are areas that are considered "the best value for your dollar" in London.
I'm getting the impression from my research thus far that most areas in London cost more or less the same with the exception of the completely uninhabitable ghettos. This is truly frustrating. Surely there must be some areas that are better deals than others, you know, the 'best kept secret' areas that are on the verge of up and coming (I don't mind where as long as there is easy access to public transport to the city).
Any help would be greatly appreciated