The school that I looked at offered 23k, and the cost of living in that area was not low. I would say moderate. Immediately you subtract the amount of money that you should spend on taxes. In this school's area, a one bedroom near campus will run someone 1K. A two bedroom on campus will run them 1400. The area around campus is not the safest, so they may want to live a little further out. The average cost for a 2br in a decent neighborhood is around 1400 not including utilities. This may be more expensive if they move towards the city, or less expensive if they move futher into the suburbs. With moving towards the suburbs, it is less expensive, but now you have to worry about commuting costs. If you are commuting from the suburbs, are you driving? Add gas and car insurance. Are you taking public transportation? Add those fees if your school doesn't reimburse you. In this area, the closer you live to public transportation, the more expensive it is due to convenience. This doesn't even include utilities, renter's insurance, and your own personal bills (i.e. cell phone) The bottom line is that the stipend can be made to work, but you also may want to have a cushion to save money, or to not feel stressed if something major happens like your car breaks down or you (or your roommate) uses utilities outrageously one month.
Obviously the area is matters when considering the stipend. Different areas will stretch a stipend further. In that particular area, financially things will be tighter. I asked the students about the stipend, and if they were happy with it. I got mixed answers when I asked the students. Some lived with spouses or significant others, and others lived with roommates but expressed that they wished they could live alone or with less people.
The fact of the matter is, you have to look carefully at the stipend amount vs. the cost of living in that area. In this area, where I have lived all of my life, I know what it would take to live somewhat comfortably. During my postbac appointment, my stipend was higher than what the school offered, and my postbac stipend allowed me to live in the area comfortably, pay taxes, pay my bills, and save money for emergencies. My personal feelings for that stipend amount come from my experience of living in that area on my own with my postbac stipend. From my personal experience, I encourage prospective students to really think about the stipend vs. cost of living. As far as how it will work in other areas, students have to do their research and make an informed decision. Prosepctive students should be honest with themselves about how they wish to live. Are you someone who desires to live alone or with as few people as possible? You might want to make sure you can afford to live that way. If you don't care, then you will be happier in a 3br apartment or maybe a house share.
Bottom line, at that particular school for 23K you COULD make it work, you have to decide what you are willing to do to make it work.