M4, here is the skinny. I should know, I lived in Portland and sold real estate there for years.
First thing where are you planning on working? Sounds like you don't have something lined up as of yet. Therefore, understand that your 30 minute commute requirement - means 'in a perfect world I would like...' My office used to be 10 minutes away (with no traffic) and a good commute would take 30 minutes a bad one - 2 hours.
Light rail - it is great if you work downtown or at the airport. Are you an office poke? Otherwise, grab your umbrella cuz your gonna walk a bunch.
East side ghettos - depends on you view of what constitutes a ghetto. BFD is what I always thought. However, *some* parts (close in parts) of North and North East Portland have some nasty colored folk. Although, it should be understood that these neighborhoods have become desirable and as a result these areas are undergoing regentrification. (buyers are displacing the tenants). Stay outta the project called 'Columbia Villa' in North Portland and like Ainsworth St to Columbia Drive out to 28th in NE - you'll be fine. Above all - don't buy the hype - it aint a scary place. Of course that is relative to your experiences.
Close in SE - multi-flavored trash. Asian, Hispanic, and Vanilla. The white trash in SE is far worse than the chocolate variety in NE. The difference is if you are white you won't even make the radar screen. Same story, know how to act, don't start nothing, won't be nothing.
Further out SE is nice, Gresham, Oregon City, Canby, Beaver Creek. Rural, laid back. I-84 the free to the East - sucks ass.
West Side:
Beaverton - don't even get me started. My office was located here. Drivers will have you in a rage within 5 minutes. This is the home of the wanna be rich (make $60K -$150K a year and I think they've got pull cuz they've got a leased Beam'r) Nuff said.
Aloha - the low rent version of Beaverton.
Hillboro - AKA Hillsburrito - Yeah, heavy hispanic influence. If you are gonna live out this way - go to Banks - smaller, laid back. Better yet, go out this far West and then turn a little South - Carlton Oregon - small, ag community.
North
Vancouver - sorry - it sucks. Not an attractive community and the commute is consistantly the worst in the area. Esp on I-5 (the 5).
South:
Tigard - possibly the best compromise of all. This gets my vote.
West Linn / Lake Oswego - $$$$
Tualatin / Sherwood - nasty drive - esp the 'Terwiliger Curves' when it is sunny during AM rush hour.
The apartment market is finally back into a healthy condition. However there should be some 'deals' available *if* you seek them out.
Good Luck. The place blows in my book.
ps - give some thought to the St. Helens area. Fairly quick commute, smaller, cheap.