Depends what you're looking for- Hpusing is cheap in woodhouse and hyde park, and is very close to the climbing but there's all the students. headingley is farther out from the city and is more expensive, but generally nicer area to live in (although the students that live in this par of leeds tend to be the worst kind, daddy's little girls and rahs and the lets-drink-vodka-and-cokes-and-go-to-gatecrasher type who all own cars and have credit cards funded by parents- sorry, rant over)
hope this helps