I'm not that familiar with North Campus-- I live closer to Central Campus in a rental house, but I know some people that live in Northwood. They seem to like it, though there are of course pros and cons to living in university housing. Most of the pros are that its really hassle-free and you don't have to deal with landlords.. but I think you can find nicer properties at comparable or lower prices through individual landlords. Depends on your preferences. If you're interested in looking around at other properties, a lot of landlords post on Craigslist. That's how I've found the two places I've lived in so far.
The other nice thing is that a lot of landlords will do "rent controlled" pricing if you renew your lease (i.e., even though other housing prices increase, they'll keep the rent constant for you) as opposed to complexes that do and likely will raise the price each year. I lived in a complex before living here (one owned by McKinley, a big corporate group that own many of the nice-ish complexes around Ann Arbor) and they were going to raise my rent by $100 if I renewed.
Sorry I can't give more specific help, and best of luck with your search! I'd get on that early, as many leases are signed around March and April.